Regulations Governing the Issuance of Call (Put) Warrants by Issuers Article 22
If an issuer issues offshore call (put) warrants for which the linked underlying is a domestic security or index, payment at exercise shall be limited to cash settlement; if the linked underlying is an offshore security or index, payment at exercise shall comply with the requirements of the competent authority or exchange where the warrants are traded.
中文原文 發行人發行認購（售）權證處理準則第22條
發行人發行海外認購（售）權證，以國內證券、指數為連結標的者，其履約給付限以現金結算方式為之；以外國證券、指數為連結標的者，其履約給付方式應依交易當地主管機關或交易所規定辦理。