Standards Governing Eligibility of Securities for Margin Purchase and Short Sale Article 2
With respect to a common stock that has been listed on the stock exchange for a full 6 months, if the stock has a par value of NT$10 per share and the net worth per share of the stock is not less than par value, or if the stock has no par value or a par value other than NT$10 per share and the issuer has no accumulated deficit in the most recent fiscal year, the stock exchange shall publicly announce it as a stock eligible for margin purchase and short sale, and report same to the competent authority on a monthly basis.With respect to a common stock, other than an OTC managed stock or an emerging stock, that has been listed on the OTC market for a full 6 months, if the stock has a par value of NT$10 per share and the net worth per share of the stock is not less than par value, or if the stock has no par value or a par value other than NT$10 per share and the issuer has no accumulated deficit in the most recent fiscal year, the OTC market shall publicly announce it as a stock eligible for margin purchase and short sale, and report same to the competent authority on a monthly basis.For Taiwan depositary receipts that have been listed on the stock exchange for 6 months, if the foreign issuer did not post an accumulated deficit in either the CPA-audited and certified consolidated financial report for the most recent fiscal year or the CPA-reviewed half-year consolidated financial report (either report shall have been prepared in compliance with the laws and regulations of the issuer's home country), and if the number of units listed on the stock exchange is 60 million units or more, the stock exchange shall publicly announce the units as eligible for margin purchase and short sale, and report same to the competent authority on a monthly basis.If any of the following conditions exist with respect to the stock or Taiwan depositary receipts referred to in the preceding three paragraphs, approval may be denied for margin purchase and short sale thereof:1. Share price is too volatile.2. Equity ownership is overly concentrated.3. Trading volume is excessively abnormal.The specific standards and procedures required in the preceding four paragraphs shall be prescribed by the stock exchange and OTC market and reported to the competent authority for approval.Where the issuer of Taiwan Innovation Board listed stock that is eligible for margin purchase and short sale applies to transfer to exchange listing, or the issuer of OTC listed or exchange listed stock that is eligible for margin purchase and short sale applies to transfer from OTC listing to exchange listing or vice versa, if the stock has a par value of NT$10 per share and the net worth per share of the stock is not less than par value, or if the stock has no par value or a par value other than NT$10 per share and the issuer has no accumulated deficit in the most recent fiscal year, and there is no over-concentration of equity ownership, the stock shall be immediately eligible for margin purchase and short sale. The procedures under this paragraph shall be prescribed by the stock exchange and OTC market and reported to the competent authority for approval.The provisions of the preceding paragraph also apply to stock that is transferred to -exchange (or OTC) listing less than 6 months before this amendment enters into force.When a company with an exchange (or OTC) listing is to be converted into a financial holding company in accordance with the Financial Holding Company Act, if the stock of a financial institution to be converted into the financial holding company are eligible for margin purchase and short sale, where the financial holding company thus created is an exchange (or OTC) listed company, if the stock has a par value of NT$10 per share and the net worth per share of the stock is not less than par value, or if the stock has no par value or a par value other than NT$10 per share and the issuer has no accumulated deficit in the most recent fiscal year, and there is no over-concentration of equity ownership, its stock shall be immediately eligible for margin purchase and short sale.When a company with an exchange (or OTC) listing is to be converted into an investment holding company through a 100 percent share conversion in accordance with the Business Mergers and Acquisitions Act, if the stock of the company to be converted into the investment holding company is eligible for margin purchase and short sale, where the investment holding company thus created is an exchange (or OTC) listed company, if the stock has a par value of NT$10 per share and the net worth per share of the stock is not less than par value, or if the stock has no par value or a par value other than NT$10 per share and the issuer has no accumulated deficit in the most recent fiscal year, and there is no over-concentration of equity ownership, its stock shall be immediately eligible for margin purchase and short sale.The procedures required in the preceding two paragraphs shall be prescribed by the stock exchange and OTC market and reported to the competent authority for approval.
中文原文 有價證券得為融資融券標準第2條
普通股股票上市滿六個月，每股面額屬新臺幣十元，每股淨值在票面以上者，或無面額或每股面額非屬新臺幣十元，最近一個會計年度決算無累積虧損者，由證券交易所公告得為融資融券交易股票，並按月彙報主管機關。
非屬櫃檯買賣管理股票及興櫃股票之普通股股票上櫃滿六個月，每股面額屬新臺幣十元，每股淨值在票面以上者，或無面額或每股面額非屬新臺幣十元，最近一個會計年度決算無累積虧損者，由證券櫃檯買賣中心公告得為融資融券交易股票，並按月彙報主管機關。
臺灣存託憑證上市滿六個月，該外國發行人依所屬國法令所編製經會計師查核簽證之最近期年度合併財務報告或經會計師核閱之半年度合併財務報告顯示無累積虧損，且上市單位數為六千萬個單位以上者，由證券交易所公告得為融資融券交易有價證券，並按月彙報主管機關。
前三項股票或臺灣存託憑證有下列各款情事之一者，得不核准其為融資融券交易：
一、股價波動過度劇烈。
二、股權過度集中。
三、成交量過度異常。
前四項規定之具體認定標準及作業程序，由證券交易所及證券櫃檯買賣中心擬訂，並報主管機關核定。
得為融資融券交易之創新板股票經發行公司申請改列為上市後或上櫃（市）股票經發行公司轉申請上市（櫃）後，每股面額屬新臺幣十元，每股淨值在票面以上者，或無面額或每股面額非屬新臺幣十元，最近一個會計年度決算無累積虧損者，且無股權過度集中之情事，即得為融資融券交易；本項作業程序由證券交易所及證券櫃檯買賣中心擬訂，並報主管機關核定。
前項規定於修正施行前已轉上市（櫃）但未滿六個月者，亦適用之。
上市（櫃）公司依金融控股公司法轉換為金融控股公司時，預計轉換為金融控股公司之金融機構股票中如有具融資融券資格者，轉換後之金融控股公司如為上市（櫃）公司，其股票每股面額屬新臺幣十元，每股淨值在票面以上者，或無面額或每股面額非屬新臺幣十元，最近一個會計年度決算無累積虧損者，且無股權過度集中之情事，即得為融資融券交易。
上市（櫃）公司依企業併購法以百分之百股份轉換方式轉換為投資控股公司時，預計轉換為投資控股公司之公司股票具融資融券資格者，轉換後之投資控股公司為上市（櫃）公司，其股票每股面額屬新臺幣十元，每股淨值在票面以上者，或無面額或每股面額非屬新臺幣十元，最近一個會計年度決算無累積虧損者，且無股權過度集中之情事，即得為融資融券交易。
前二項作業程序由證券交易所及證券櫃檯買賣中心擬訂，並報主管機關核定。
非屬櫃檯買賣管理股票及興櫃股票之普通股股票上櫃滿六個月，每股面額屬新臺幣十元，每股淨值在票面以上者，或無面額或每股面額非屬新臺幣十元，最近一個會計年度決算無累積虧損者，由證券櫃檯買賣中心公告得為融資融券交易股票，並按月彙報主管機關。
臺灣存託憑證上市滿六個月，該外國發行人依所屬國法令所編製經會計師查核簽證之最近期年度合併財務報告或經會計師核閱之半年度合併財務報告顯示無累積虧損，且上市單位數為六千萬個單位以上者，由證券交易所公告得為融資融券交易有價證券，並按月彙報主管機關。
前三項股票或臺灣存託憑證有下列各款情事之一者，得不核准其為融資融券交易：
一、股價波動過度劇烈。
二、股權過度集中。
三、成交量過度異常。
前四項規定之具體認定標準及作業程序，由證券交易所及證券櫃檯買賣中心擬訂，並報主管機關核定。
得為融資融券交易之創新板股票經發行公司申請改列為上市後或上櫃（市）股票經發行公司轉申請上市（櫃）後，每股面額屬新臺幣十元，每股淨值在票面以上者，或無面額或每股面額非屬新臺幣十元，最近一個會計年度決算無累積虧損者，且無股權過度集中之情事，即得為融資融券交易；本項作業程序由證券交易所及證券櫃檯買賣中心擬訂，並報主管機關核定。
前項規定於修正施行前已轉上市（櫃）但未滿六個月者，亦適用之。
上市（櫃）公司依金融控股公司法轉換為金融控股公司時，預計轉換為金融控股公司之金融機構股票中如有具融資融券資格者，轉換後之金融控股公司如為上市（櫃）公司，其股票每股面額屬新臺幣十元，每股淨值在票面以上者，或無面額或每股面額非屬新臺幣十元，最近一個會計年度決算無累積虧損者，且無股權過度集中之情事，即得為融資融券交易。
上市（櫃）公司依企業併購法以百分之百股份轉換方式轉換為投資控股公司時，預計轉換為投資控股公司之公司股票具融資融券資格者，轉換後之投資控股公司為上市（櫃）公司，其股票每股面額屬新臺幣十元，每股淨值在票面以上者，或無面額或每股面額非屬新臺幣十元，最近一個會計年度決算無累積虧損者，且無股權過度集中之情事，即得為融資融券交易。
前二項作業程序由證券交易所及證券櫃檯買賣中心擬訂，並報主管機關核定。