Enforcement
Fine Imposition on Person Responsible for the Act of Solar Applied Materials Technology Corporation
2022-08-05
I. Date of sanction: August 5, 2022
II. Object of sanction: XX Ma, the person responsible for the act of Solar Applied Materials Technology Corporation (hereinafter referred to as SOLAR or the Company).
III. Legal basis for the sanction: Paragraph 7, Article 26-3, subparagraph 9, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
IV. Facts of violation: SOLAR elected its current 9 directors (including 3 independent directors) at its general shareholders’ meeting on June 28, 2019. As of March 8, 2022, 5 directors (including 2 independent directors) resigned, causing the vacancy of directors to reach one-third of the seats specified in its Articles of Association, but no extraordinary shareholders’ meeting was held for a by-election within 60 days from the date of occurrence; this is verified to have violated the provisions of paragraph 7, Article 26-3 of the Securities and Exchange Act.
V. Sanction imposed: A fine of NT$240,000 is imposed on the responsible person of the company in accordance with subparagraph 9, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
Contact unit: Section Chief Pei, Corporate Finance Division, Securities and Futures Bureau
Tel: 02-2774-7342
For questions, please write to:FSCmail
II. Object of sanction: XX Ma, the person responsible for the act of Solar Applied Materials Technology Corporation (hereinafter referred to as SOLAR or the Company).
III. Legal basis for the sanction: Paragraph 7, Article 26-3, subparagraph 9, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
IV. Facts of violation: SOLAR elected its current 9 directors (including 3 independent directors) at its general shareholders’ meeting on June 28, 2019. As of March 8, 2022, 5 directors (including 2 independent directors) resigned, causing the vacancy of directors to reach one-third of the seats specified in its Articles of Association, but no extraordinary shareholders’ meeting was held for a by-election within 60 days from the date of occurrence; this is verified to have violated the provisions of paragraph 7, Article 26-3 of the Securities and Exchange Act.
V. Sanction imposed: A fine of NT$240,000 is imposed on the responsible person of the company in accordance with subparagraph 9, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
Contact unit: Section Chief Pei, Corporate Finance Division, Securities and Futures Bureau
Tel: 02-2774-7342
For questions, please write to:FSCmail
- Visitor： 8874
- Update： 2022-08-18
