Regulations Governing Securities Investment and Futures Trading in Taiwan by Mainland Area Investors Article 29

An Institutional Investor may request redemption of overseas depositary receipts in which it has invested. At the time it requests redemption of such overseas depositary receipts, it may request that the depositary institution transfer the title to the securities represented by the overseas depositary receipts to the requestor, or request that the depositary institution sell the securities represented by the overseas depositary receipts and pay the resulting proceeds to the requestor after deducting taxes and relevant fees.If privately placed overseas depositary receipts held by an institutional investor, or any additional depositary receipts subsequently distributed to it due to a subsequent capital increase out of earnings or capital reserves, are redeemed for shares of a Taiwan issuing company, the Institutional Investor may sell such shares in a Taiwan market only after three years have elapsed from the delivery date of the privately placed overseas depositary receipts, and after the Taiwan issuing company has filed with the Competent Authority for supplemental public issuance.