Regulations Governing Securities Investment and Futures Trading in Taiwan by Mainland Area Investors Article 31

Only after overseas depositary receipts have been redeemed may an Institutional Investor, itself or through a depository institution, within the scope of the original number of shares redeemed, purchase the original securities from the Taiwan market or deliver to the custodian institution original securities it already holds, for the depositary institution subsequently to reissue overseas depositary receipts based thereupon.Overseas depositary receipts reissued pursuant to the preceding paragraph are limited to those for which it has been expressly stipulated in the deposit contract and custody contract that after redemption the overseas depositary receipts may be reissued.