Company Act Article 269
Under any of the following circumstances a company shall not publicly issue special shares with preference;1.Where its average net profit of the most recent three years or, in case the company has commenced its business for less than three years, of the years the company is in operation, after paying taxes, is not sufficient to pay dividends on special shares already issued and intended to be issued;2.Where it has been in default in making regular payment of dividends on special shares already issued.
中文原文 公司法第269條
公司有左列情形之一者，不得公開發行具有優先權利之特別股：
一、最近三年或開業不及三年之開業年度課稅後之平均淨利，不足支付已發行及擬發行之特別股股息者。
二、對於已發行之特別股約定股息，未能按期支付者。
一、最近三年或開業不及三年之開業年度課稅後之平均淨利，不足支付已發行及擬發行之特別股股息者。
二、對於已發行之特別股約定股息，未能按期支付者。