Regulations Governing the Offering and Issuance of Securities by Foreign Issuers Article 5
Where a foreign issuer registers a planned offering and issuance with the FSC by duly filing all required documents, the registration will automatically become effective after 12 full business days from the day on which the filing documents were received by the FSC and any FSC-designated agencies, unless the effective registration period of 20 days set out in Article 5-1 applies. However, the effective registration period shall be 7 business days if the foreign issuer is conducting one of the cases listed in subparagraphs 1 to 6 below; the effective registration period shall be 3 business days if the foreign issuer is conducting a case listed in subparagraph 7 below:1. A case of a primary exchange (or OTC) listed company or emerging stock company publicly offering and issuing overseas straight corporate bonds, or issuing employee stock warrants or new restricted employee shares.2. A case of a foreign issuer that has already duly issued stock and files, through the TWSE or TPEx, a primary exchange listing or primary OTC listing contract with the FSC for its stock, and subsequently conducts a public sale of new shares issued to effect a cash capital increase before the initial exchange listing or OTC listing.3. A case of a primary exchange (or OTC) listed company that conducts any of the following matters due to an application for board transfer or reclassification:A. A TIB primary listed company applying to be reclassified as a primary exchange listed company under Chapter III of the Listing Review Rules or applying to transfer its listing to a primary OTC listing issues new shares for cash capital increase.B. A primary exchange listed company under Chapter III of the Listing Review Rules applying to be reclassified as a TIB primary listed company issues new shares for cash capital increase in order to achieve compliance with standards governing dispersion of equity ownership.C. A primary OTC listed company applying to transfer its listing to a primary exchange listing or a primary exchange listed company under Chapter III of the Listing Review Rules applying to transfer its listing to a primary OTC listing, where the Taiwan Stock Exchange or the Taipei Exchange has filed the primary exchange listing or primary OTC listing contract with the FSC, issues new shares for cash capital increase in order to achieve compliance with standards governing dispersion of equity ownership.4. A case of a foreign issuer that files, through the TWSE or TPEx, an exchange listing or OTC listing contract with the FSC for its sponsored issuance of TDRs, and subsequently conducts a public sale of TDRs before the initial exchange listing or OTC listing.5. A case of a secondary exchange (or OTC) listed company that makes a domestic secondary public offering of stock or sponsored issuance of TDRs using shares that have already been issued and are held by shareholders.6. A case of an emerging stock company issuing new shares for a cash capital increase without conducting a public issue.7. A case of a foreign issuer publicly offering and issuing domestic straight corporate bonds.The FSC may suspend an effective registration where the registration materials submitted by a foreign issuer are not complete or have not been completely filled out, or where it is necessary to do so in order to safeguard the public interest.Where a foreign issuer submits incomplete registration materials or fails to fill out its registration materials completely and acts on its own to rectify such insufficiency before the FSC issues notification of the suspension of effective registration, the registration shall become effective after the effective registration period specified in paragraph 1 herein has elapsed from the day on which the materials rectifying the insufficiency were received by the FSC and any FSC-designated agencies.Where a foreign issuer registers the offering and issuance of depositary receipts or stocks and a subsequent change in the issue price prompts it to submit amended registration materials to the FSC and any FSC-designated agencies prior to the occurrence of effective registration, the registration will still become effective within the effective registration time period set forth under paragraph 1, and the provisions of the preceding paragraph shall not apply.After receiving notice of suspension of effective registration, a foreign issuer may submit further materials to rectify the cause of suspension; if the FSC does not then reject the registration or notify the registrant to effect further rectification, the registration shall become effective after the effective registration period specified in paragraph 1 herein has elapsed from the day on which the rectified registration materials are received by the FSC and any FSC-designated agencies.After the FSC suspends an effective registration, if the foreign issuer fails, within 12 business days from the day on which it receives a letter notifying it of said suspension, to act in accordance with the provisions of the preceding paragraph to apply for lifting the suspension, or it applies for lifting of the suspension but the cause of suspension has not been eliminated, the FSC may reject the registration.
中文原文 外國發行人募集與發行有價證券處理準則第5條
外國發行人募集與發行有價證券，依規定檢齊相關書件提出申報，除依第五條之一規定適用申報生效期間二十個營業日外，於本會及本會指定之機構收到申報書即日起屆滿十二個營業日生效。
但外國發行人辦理下列第一款至第六款案件，申報生效期間為七個營業日；辦理下列第七款案件，申報生效期間為三個營業日：
一、第一上市（櫃）公司及興櫃公司募集與發行海外普通公司債、發行員工認股權憑證或限制員工權利新股。
二、已依本法發行股票之外國發行人經證券交易所或證券櫃檯買賣中心向本會申報其股票第一上市或第一上櫃契約後，辦理初次上市、上櫃前公開銷售之現金增資發行新股。
三、第一上市（櫃）公司因申請轉板或改列而辦理下列事項：
（一）創新板第一上市公司申請改列為上市審查準則第三章規定之第一上市公司或申請轉第一上櫃辦理現金增資發行新股者。
（二）上市審查準則第三章規定之第一上市公司申請改列為創新板第一上市公司辦理現金增資發行新股以符合股權分散標準者。
（三）第一上櫃公司申請轉第一上市或上市審查準則第三章規定之第一上市公司申請轉第一上櫃，經證券交易所或證券櫃檯買賣中心向本會申報其股票第一上市或第一上櫃契約後，辦理現金增資發行新股以符合股權分散標準者。
四、外國發行人經證券交易所或證券櫃檯買賣中心向本會申報其參與發行臺灣存託憑證之上市或上櫃契約後，辦理初次上市、上櫃前公開銷售臺灣存託憑證。
五、第二上市（櫃）公司以股東持有之已發行股份於國內公開招募股票或參與發行臺灣存託憑證。
六、興櫃公司辦理未對外公開發行之現金增資發行新股。
七、外國發行人募集與發行國內普通公司債。
因申報書件不完備或應記載事項不充分，或為保護公益而有必要者，本會得停止其申報發生效力。
外國發行人所提出之申報書件不完備、應記載事項不充分之情事，於未經本會通知停止其申報生效前，自行完成補正者，自本會及本會指定之機構收到補正書件即日起屆滿第一項規定之申報生效期間生效。
外國發行人申報募集與發行存託憑證或股票，因變更發行價格，於申報生效前檢齊修正後相關資料，向本會及本會指定之機構申報者，仍依第一項規定之申報生效期間生效，不適用前項規定。
外國發行人於停止申報生效送達日起，得就停止申報生效之原因提出補正，如未再經本會通知補正或退回案件，自本會及本會指定之機構收到補正書件即日起屆滿第一項規定之申報生效期間生效。
外國發行人經本會停止其申報生效後，自停止申報生效函送達即日起屆滿十二個營業日，未依前項規定申請解除停止申報生效，或雖提出解除申請而仍有原停止申報生效之原因者，本會得退回其案件。
但外國發行人辦理下列第一款至第六款案件，申報生效期間為七個營業日；辦理下列第七款案件，申報生效期間為三個營業日：
一、第一上市（櫃）公司及興櫃公司募集與發行海外普通公司債、發行員工認股權憑證或限制員工權利新股。
二、已依本法發行股票之外國發行人經證券交易所或證券櫃檯買賣中心向本會申報其股票第一上市或第一上櫃契約後，辦理初次上市、上櫃前公開銷售之現金增資發行新股。
三、第一上市（櫃）公司因申請轉板或改列而辦理下列事項：
（一）創新板第一上市公司申請改列為上市審查準則第三章規定之第一上市公司或申請轉第一上櫃辦理現金增資發行新股者。
（二）上市審查準則第三章規定之第一上市公司申請改列為創新板第一上市公司辦理現金增資發行新股以符合股權分散標準者。
（三）第一上櫃公司申請轉第一上市或上市審查準則第三章規定之第一上市公司申請轉第一上櫃，經證券交易所或證券櫃檯買賣中心向本會申報其股票第一上市或第一上櫃契約後，辦理現金增資發行新股以符合股權分散標準者。
四、外國發行人經證券交易所或證券櫃檯買賣中心向本會申報其參與發行臺灣存託憑證之上市或上櫃契約後，辦理初次上市、上櫃前公開銷售臺灣存託憑證。
五、第二上市（櫃）公司以股東持有之已發行股份於國內公開招募股票或參與發行臺灣存託憑證。
六、興櫃公司辦理未對外公開發行之現金增資發行新股。
七、外國發行人募集與發行國內普通公司債。
因申報書件不完備或應記載事項不充分，或為保護公益而有必要者，本會得停止其申報發生效力。
外國發行人所提出之申報書件不完備、應記載事項不充分之情事，於未經本會通知停止其申報生效前，自行完成補正者，自本會及本會指定之機構收到補正書件即日起屆滿第一項規定之申報生效期間生效。
外國發行人申報募集與發行存託憑證或股票，因變更發行價格，於申報生效前檢齊修正後相關資料，向本會及本會指定之機構申報者，仍依第一項規定之申報生效期間生效，不適用前項規定。
外國發行人於停止申報生效送達日起，得就停止申報生效之原因提出補正，如未再經本會通知補正或退回案件，自本會及本會指定之機構收到補正書件即日起屆滿第一項規定之申報生效期間生效。
外國發行人經本會停止其申報生效後，自停止申報生效函送達即日起屆滿十二個營業日，未依前項規定申請解除停止申報生效，或雖提出解除申請而仍有原停止申報生效之原因者，本會得退回其案件。