BUSINESS MERGERS AND ACQUISITIONS ACT Article 11
In the merger/consolidation and acquisition by a company, the written agreement among shareholders, the company and shareholders, may reasonably regulate the following issues:1.The company, other shareholders or a designated third party shall have the priority to purchase the shares transferred by the shareholder;2.The company, other shareholders or a designated third party may have the priority to subscribe for shares held by other shareholders;3.The shareholder may request other shareholders to jointly transfer their shares;4.Any transfer of shares or pledge of shares to a given person by a shareholder shall be subject to the approval of the Board of Directors or the general meeting;5.The transferee or pledgee of shares;6.Restraining shares from being transferred or offered as a security in pledge within a specific period of time.The company not having its share certificates publicly issued may stipulate the aforesaid issues.The so-called reasonable restrictions referred to in Paragraph 1 of this Article shall comply with the following principles:1.Such restrictions are prescribed for the compliance with the Securities and Exchange Act, the tax law or any other applicable laws and ordinances;2.Such restrictions are prescribed due to the character of a shareholder, business competition or operation development.In issuing new shares owing to the merger/consolidation and acquisition by a company that has its share certificates publicly issued, and thus subject to restrictions of transfer or pledge of shares as provided in Paragraph 1, such restrictions shall be explicitly entered into the prospectus as specified in the Securities and Exchange Act or in the document to be delivered to the investors as specified by the competent securities authority.As provided in Article 163 of the Company Act, that transfer of shares of a company shall not be prohibited or restricted by any provision in the Articles of Incorporation, is not applicable to Paragraphs 1 and 2 hereof.The sum of the purchased quantity of shares by a company pursuant to Items 1 and 2 of Paragraph 1 and that of e redeemed and purchased shares under other laws and ordinances shall not be greater than twenty percent of the total shares issued by that company and the total amount of redemption and buying back shall not be greater than the sum of retained earnings plus realized capital surplus.
中文原文 企業併購法第11條
公司進行併購時，得以股東間書面契約或公司與股東間之書面契約合理限制下列事項：
一、股東轉讓持股時，應優先轉讓予公司、其他股東或指定之第三人。
二、公司、股東或指定之第三人得優先承購其他股東所持有股份。
三、股東得請求其他股東一併轉讓所持有股份。
四、股東轉讓股份或將股票設質予特定人應經公司董事會或股東會之同意。
五、股東轉讓股份或設質股票之對象。
六、股東於一定期間內不得將股份轉讓或股票設質予他人。
未公開發行股票之公司得以章程記載前項約定事項。
第一項所指合理限制，應符合下列原則：
一、為符合證券交易法、稅法或其他法令規定所為之限制。
二、其他因股東身分、公司業務競爭或整體業務發展之目的所為必要之限制。
公開發行股票之公司進行併購發行新股而受第一項股份轉讓或股票設質之限制時，應依證券交易法規定於公開說明書或證券主管機關規定應交付投資人之書面文件中載明。
公司法第一百六十三條不得以章程禁止或限制股份轉讓之規定，於第一項及第二項情形不適用之。
公司依第一項第一款或第二款買回股份之數量併同依其他法律買回股份之總數，不得超過該公司已發行股份總數百分之二十，且其收買股份之總金額，不得逾保留盈餘加已實現之資本公積之金額。
一、股東轉讓持股時，應優先轉讓予公司、其他股東或指定之第三人。
二、公司、股東或指定之第三人得優先承購其他股東所持有股份。
三、股東得請求其他股東一併轉讓所持有股份。
四、股東轉讓股份或將股票設質予特定人應經公司董事會或股東會之同意。
五、股東轉讓股份或設質股票之對象。
六、股東於一定期間內不得將股份轉讓或股票設質予他人。
未公開發行股票之公司得以章程記載前項約定事項。
第一項所指合理限制，應符合下列原則：
一、為符合證券交易法、稅法或其他法令規定所為之限制。
二、其他因股東身分、公司業務競爭或整體業務發展之目的所為必要之限制。
公開發行股票之公司進行併購發行新股而受第一項股份轉讓或股票設質之限制時，應依證券交易法規定於公開說明書或證券主管機關規定應交付投資人之書面文件中載明。
公司法第一百六十三條不得以章程禁止或限制股份轉讓之規定，於第一項及第二項情形不適用之。
公司依第一項第一款或第二款買回股份之數量併同依其他法律買回股份之總數，不得超過該公司已發行股份總數百分之二十，且其收買股份之總金額，不得逾保留盈餘加已實現之資本公積之金額。