Enforcement Rule of the Privatization of Government-Owned Enterprises Act Article 4

The term "sale of shares" referred to in subparagraph 1, paragraph 1 of Article 6 of the Act shall mean one of the following circumstances:1. Sale in any of the following manners pursuant to the laws and regulations governing securities and exchange:(1)Public sale of government-owned shares prior to being listed on the Taiwan Stock Exchange or the Over-The-Counter Securities Exchange;(2)Sale of government-owned shares to the general public by public offering;(3)Sale of government-owned shares on the centralized securities exchange market or over-the-counter market;(4)Overseas sale of government-owned shares in the form of stocks or in the form of overseas depositary receipts;(5)Sale of government-owned shares in other manners.2. Share exchange or public sale of government-owned shares in accordance with other laws and regulations.3. Sale of government-owned shares by way of negotiation in accordance with the provision of paragraph 2 of Article 6 of the Act.