Standards Governing Eligibility of Securities for Margin Purchase and Short Sale Article 4
If any of the following conditions exist with respect to stock or Taiwan depositary receipts eligible for margin purchase and short sale, the stock exchange or OTC market may publicly announce suspension of margin purchase and short sale transactions in such stock, or adjust the margin purchase leverage limit or short sale margin requirement within the scope prescribed by the competent authority and report same to the competent authority for recordation:1. The trading method for exchange-listed stock or Taiwan depositary receipts has been changed to require full delivery, or the trading method for OTC-listed stock has been changed to require pre-paid settlement.2. Exchange-listed stock or Taiwan depositary receipts or OTC-listed stock is suspended from trading.3. Exchange-listed stock or Taiwan depositary receipts or OTC-listed stock is delisted from the exchange or the OTC market.4. Exchange-listed or OTC-listed stock has a par value of NT$10 per share and the net worth per share is below par value, or has no par value or a par value other than NT$10 per share and the issuer has an accumulated deficit.5. 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), the issuer of foreign securities evidenced by Taiwan depositary receipts has posted an accumulated deficit.6. Taiwan depositary receipts number less than 60 million exchange-listed units following a redemption.7. There has been a major default on the exchange-listed stock or Taiwan depositary receipts, or OTC-listed stock, and the balance of margin purchases or short sales meets or exceeds a prescribed ratio.8. The stock price is too volatile.9. Equity ownership is overly concentrated.10. Trading volume is excessively abnormal.11. There is another situation that makes it unadvisable to continue margin purchase and short sale transactions.Where margin purchase and short sale transactions are suspended or the margin purchase leverage limit or short sale margin requirement is adjusted in accordance with the provisions of the preceding paragraph, if the reason for suspension or adjustment no longer exists, the stock exchange or OTC market shall publicly announce reinstatement and report same to the competent authority for recordation.The specific standards and 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4條
得為融資融券交易之股票或臺灣存託憑證有下列情事之一者，證券交易所及證券櫃檯買賣中心得公告暫停該股票之融資融券交易，或在主管機關所定之範圍內，調整其融資比率或融券保證金成數，並報主管機關備查：
一、上市股票、臺灣存託憑證變更交易方法為全額交割，或上櫃股票變更交易方法為應先收足款券。
二、上市股票、臺灣存託憑證或上櫃股票停止買賣。
三、上市股票、臺灣存託憑證或上櫃股票終止上市或上櫃。
四、上市或上櫃股票每股面額屬新臺幣十元，每股淨值低於票面，或無面額或每股面額非屬新臺幣十元，有累積虧損。
五、臺灣存託憑證所表彰外國有價證券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累積虧損。
六、臺灣存託憑證上市單位數經兌回不足六千萬個單位。
七、上市股票、臺灣存託憑證或上櫃股票有鉅額違約情事且融資或融券餘額達一定比率。
八、股價波動過度劇烈。
九、股權過度集中。
十、成交量過度異常。
十一、其他不適宜繼續融資融券交易之情事。
依前項暫停融資融券交易或調整融資比率、融券保證金成數者，於暫停或調整原因消滅時，由證券交易所或證券櫃檯買賣中心公告恢復，並報主管機關備查。
前二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。
一、上市股票、臺灣存託憑證變更交易方法為全額交割，或上櫃股票變更交易方法為應先收足款券。
二、上市股票、臺灣存託憑證或上櫃股票停止買賣。
三、上市股票、臺灣存託憑證或上櫃股票終止上市或上櫃。
四、上市或上櫃股票每股面額屬新臺幣十元，每股淨值低於票面，或無面額或每股面額非屬新臺幣十元，有累積虧損。
五、臺灣存託憑證所表彰外國有價證券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累積虧損。
六、臺灣存託憑證上市單位數經兌回不足六千萬個單位。
七、上市股票、臺灣存託憑證或上櫃股票有鉅額違約情事且融資或融券餘額達一定比率。
八、股價波動過度劇烈。
九、股權過度集中。
十、成交量過度異常。
十一、其他不適宜繼續融資融券交易之情事。
依前項暫停融資融券交易或調整融資比率、融券保證金成數者，於暫停或調整原因消滅時，由證券交易所或證券櫃檯買賣中心公告恢復，並報主管機關備查。
前二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。