Regulations Governing the Offering and Issuance of Securities by Foreign Issuers Article 7
When a foreign issuer files for public offering and issuance of securities, the FSC may reject the filing case if any of the following circumstances exists:1. The particulars registered are in violation of acts and regulations, or there are any misrepresentations or false statements contained in the application;2. The attesting CPA issues an audit report containing a disclaimer of opinion or adverse opinion.3. The attesting CPA issues an audit report containing a qualified opinion that affects the fair presentation of the financial report.4. The case review forms prepared by the foreign issuer, reviewed by the attesting CPA, or issued by the lead securities underwriter indicate any violation of laws or regulations or the articles of incorporation and such violation will affect the offering and issuance of securities.5. A legal opinion issued by a lawyer indicates a violation of acts or regulations has occurred that affects the offering and issuance of the securities.6. The evaluation report issued by the securities underwriter fails to clearly indicate the feasibility, necessity, and reasonableness of the current plan to offer and issue securities.7. The foreign issuer files any case under paragraph 1 of the preceding article within 3 months after receiving notice from the FSC rejecting, voiding, or revoking a case filed by the foreign issuer under these Regulations or after the foreign issuer has withdrawn such a filing. This restriction does not apply, however, if the present case is for issuance of new shares or sponsored issuance of depositary receipts in connection with a merger, with acquiring shares of another company, or an acquisition or demerger.8. Breach or non-performance of a commitment made at the time of the application for listing or OTC trading of stock, where the circumstances are serious and remain uncorrected.9. The FSC discovers a violation of law or regulation, where the circumstances are serious, or the FSC deems it necessary to reject the case to protect the public interest.Article 4 of the Regulations Governing the Offering and Issuance of Securities by Securities Issuers shall apply mutatis mutandis to circumstances under which a foreign issuer may not offer and issue securities.
中文原文 外國發行人募集與發行有價證券處理準則第7條
外國發行人申報募集與發行有價證券，有下列情形之一，本會得退回其案件：
一、申報事項有違反法令或虛偽情事者。
二、簽證會計師出具無法表示意見或否定意見之查核報告者。
三、簽證會計師出具保留意見之查核報告，其保留意見影響財務報告之允當表達者。
四、外國發行人填報、簽證會計師複核或主辦證券承銷商出具之案件檢查表，顯示有違反法令或公司章程，致影響有價證券之募集與發行者。
五、律師出具之法律意見書，表示有違反法令，致影響有價證券之募集與發行者。
六、證券承銷商出具之評估報告，未明確表示本次募集與發行有價證券計畫之可行性、必要性及合理性者。
七、經本會退回、撤銷、廢止或自行撤回其依本準則申報案件，外國發行人自接獲本會通知即日起三個月內辦理前條第一項之案件者。
但本次辦理合併、受讓他公司股份、收購或分割而發行新股或參與發行存託憑證者，不在此限。
八、違反或不履行申請股票上市或在證券商營業處所買賣時之承諾事項，情節重大，迄未改善者。
九、經本會發現有違反法令，情節重大或本會為保護公益認為必要者。
外國發行人不得募集與發行有價證券之情形，準用發行人募集與發行有價證券處理準則第四條之規定。
一、申報事項有違反法令或虛偽情事者。
二、簽證會計師出具無法表示意見或否定意見之查核報告者。
三、簽證會計師出具保留意見之查核報告，其保留意見影響財務報告之允當表達者。
四、外國發行人填報、簽證會計師複核或主辦證券承銷商出具之案件檢查表，顯示有違反法令或公司章程，致影響有價證券之募集與發行者。
五、律師出具之法律意見書，表示有違反法令，致影響有價證券之募集與發行者。
六、證券承銷商出具之評估報告，未明確表示本次募集與發行有價證券計畫之可行性、必要性及合理性者。
七、經本會退回、撤銷、廢止或自行撤回其依本準則申報案件，外國發行人自接獲本會通知即日起三個月內辦理前條第一項之案件者。
但本次辦理合併、受讓他公司股份、收購或分割而發行新股或參與發行存託憑證者，不在此限。
八、違反或不履行申請股票上市或在證券商營業處所買賣時之承諾事項，情節重大，迄未改善者。
九、經本會發現有違反法令，情節重大或本會為保護公益認為必要者。
外國發行人不得募集與發行有價證券之情形，準用發行人募集與發行有價證券處理準則第四條之規定。