Divestment of Shares in Terrestrial Television Act Article 16

Publicly operated terrestrial television enterprises are to report to the supervisory agency for Executive Yuan approval plans to purchase privately held shares (henceforth “the share purchase plan”.The Executive Yuan is to have the plan reviewed by the review committee. Paragraph 4 of Article 7 shall apply when the review committee is reviewing the share purchase plan.The share purchase plan shall include the following1. Names of holders of nonpublic shares, name of shares, and number.2. Share purchase price and calculation method.3. Other information.The Executive Yuan shall send, as per Article 7, the share purchase plan to be reviewed by the review committee. During the plan’s review, a representative of the publicly owned terrestrial television station union shall attend.Holders of nonpublic shares of publicly owned terrestrial television enterprises of the Public Television Service Foundation shall, within twenty days of announcement by the supervisory agency, submit written documentation of the type and number of shares, requesting that these enterprises purchase all shares, this not being subject to the provisions of Paragraph 1 of Article 167 of the Company Act.Paragraph 2 and Paragraph 3 of Article 167 and Paragraph 2 and Paragraph 3 of Article 187, and Paragraph 2 of Article 188 of the Company Act shall apply to the purchase of shares as mentioned in the preceding Paragraph, decisions concerning the purchase, and requests for purchases beyond the stated timeframe.The government shall draw up a budget to cover any shortfall on the part of publicly operated terrestrial television enterprises for the purchase of nonpublic shares with donations accrued through per the provisions of Article 10.