Regulations Governing the Issuance of Call (Put) Warrants by Issuers Article 5
To issue call (put) warrants, an issuer shall first apply to the Financial Supervisory Commission (FSC) for accreditation as a qualified issuer of call (put) warrants.When a domestic issuer applies to the FSC for accreditation as a qualified issuer of call (put) warrants, it shall meet the following qualifications. This provision shall not apply, however, in the case of failure to meet requirements of subparagraphs 3 to 7 if there has been concrete improvement of the circumstances and it has been accredited by the competent authority..1. The CPA-audited and attested financial report for the most recent period states net worth of not less than NT$3 billion and not lower than the paid-in capital. Its financial condition meets the requirements of the Regulations Governing Securities Firms.2. Regulatory capital adequacy ratio during the half-year period preceding the date of application was not less than 200 percent.3. It has not been issued a warning by the FSC under Article 66, subparagraph 1 of the Act within the last 3 months.4. It has not been subject to any sanction imposed by the FSC ordering dismissal of a director, supervisor, or managerial officer of the issuer, or any disposition to dismiss and replace its responsible person or other relevant personnel in the most recent half year.5. It has not been subject to any sanction imposed by the FSC during the most recent year involving suspension of business activities.6. It has not been subject to any sanction imposed by the FSC during the most recent 2 years involving voidance or revocation of any part of its permission for business.7. It has not been subject to any sanction imposed by the Taiwan Stock Exchange Corporation("TWSE"), Taipei Exchange ("TPEx"), or the Taiwan Futures Exchange Corporation ("TAIFEX " ) pursuant to the bylaws of those exchanges suspending or restricting its trading in the past year.When a foreign issuer applies to the FSC for accreditation as a qualified issuer of call (put) warrants, it shall meet the following qualifications.1. The CPA-audited and attested financial report for the most recent period states net worth of not less than NT$3 billion and not lower than the paid-in capital.2. It has a credit rating of a specific level or higher issued by a credit rating agency recognized by the FSC.3. It has experience in operating international call (put) warrant businesses.4. It has not been sanctioned by the competent authority in its home country in the preceding 2 years.5. The net value of its branch unit in the territory of the ROC, or branch unit established in the territory of the ROC by its directly or indirectly wholly-owned subsidiary shall reach NT$150 million, and shall meet the provisions in subparagraphs 2 to 7 of the preceding paragraph.If an issuer engages a foreign institution to act as a risk management institution or as a foreign issuer, it shall first obtain a consent letter from the competent authority in charge of foreign exchange.In order to apply to the FSC for accreditation as a qualified issuer of call (put) warrants, an issuer shall submit an Application for Accreditation as a Qualified Call (Put) Warrants Issuer furnishing all required particulars, together with duplicate copies of all other required documents, to the TWSE or TPEx. After the TWSE or TPEx examines and approves the application, the applicant shall file the examination opinion with the FSC for final review and approval.In carrying out final review and approval of an application for accreditation of qualifications to issue call (put) warrants as referred to in the first paragraph of this article, the FSC shall act on the basis of a financial report duly audited and attested by a certified public accountant (CPA), a licensed attorney's opinion regarding legal and regulatory compliance, credit rating information, related documents, and an examination opinion issued by the TWSE or the TPEx.
中文原文 發行人發行認購（售）權證處理準則第5條
發行人發行認購（售）權證，應先向金融監督管理委員會（以下簡稱本會）申請核給發行認購（售）權證之資格認可。
本國發行人向本會申請核給其發行認購（售）權證之資格認可，應具備下列資格條件。
但不符第三款至第七款之條件，而其情事已具體改善，並經本會認可者，不在此限：
一、最近期經會計師查核簽證之財務報告淨值達新臺幣三十億元以上，且不低於實收資本額；財務狀況符合證券商管理規則之規定。
二、申請日前半年自有資本適足比率未低於百分之二百。
三、最近三個月未曾受本會依本法第六十六條第一款所為之警告處分。
四、最近半年未曾受本會命令該發行人解除其董事、監察人或經理人職務處分，或撤換其負責人或其他有關人員之處分。
五、最近一年未曾受本會停業之處分。
六、最近二年未曾受本會撤銷或廢止部分營業許可之處分。
七、最近一年未曾受臺灣證券交易所股份有限公司（以下簡稱證券交易所）、財團法人中華民國證券櫃檯買賣中心（以下簡稱櫃檯買賣中心）、臺灣期貨交易所股份有限公司依其章則處以停止或限制買賣之處置。
外國發行人向本會申請核給其發行認購（售）權證之資格認可，應具備下列資格條件：
一、最近期經會計師查核簽證之財務報告淨值達新臺幣三十億元以上，且不低於實收資本額。
二、符合經本會認可之信用評等機構評定達一定等級以上。
三、具有國際認購（售）權證業務經驗。
四、最近二年在其本國未曾受主管機關處分。
五、其在中華民國境內之分支機構或直接或間接持股百分之百之子公司在中華民國境內設立之分支機構淨值應達新臺幣一億五千萬元以上，並符合前項第二款至第七款規定。
發行人委託外國機構擔任風險管理機構或外國發行人，應先取得外匯業務主管機關同意函。
發行人向本會申請核給其發行認購（售）權證之資格認可，應檢具「發行認購（售）權證資格認可申請書」，載明應記載事項，連同應附書件二份，向證券交易所或櫃檯買賣中心提出申請，並經證券交易所或櫃檯買賣中心審查同意後加具審查意見，函報本會審核。
第一項申請核給資格認可案件，本會以會計師依規定查核簽證之財務報告、律師出具之適法性意見書、信用評等資料、相關書件及證券交易所或櫃檯買賣中心之審查意見予以審核。
本國發行人向本會申請核給其發行認購（售）權證之資格認可，應具備下列資格條件。
但不符第三款至第七款之條件，而其情事已具體改善，並經本會認可者，不在此限：
一、最近期經會計師查核簽證之財務報告淨值達新臺幣三十億元以上，且不低於實收資本額；財務狀況符合證券商管理規則之規定。
二、申請日前半年自有資本適足比率未低於百分之二百。
三、最近三個月未曾受本會依本法第六十六條第一款所為之警告處分。
四、最近半年未曾受本會命令該發行人解除其董事、監察人或經理人職務處分，或撤換其負責人或其他有關人員之處分。
五、最近一年未曾受本會停業之處分。
六、最近二年未曾受本會撤銷或廢止部分營業許可之處分。
七、最近一年未曾受臺灣證券交易所股份有限公司（以下簡稱證券交易所）、財團法人中華民國證券櫃檯買賣中心（以下簡稱櫃檯買賣中心）、臺灣期貨交易所股份有限公司依其章則處以停止或限制買賣之處置。
外國發行人向本會申請核給其發行認購（售）權證之資格認可，應具備下列資格條件：
一、最近期經會計師查核簽證之財務報告淨值達新臺幣三十億元以上，且不低於實收資本額。
二、符合經本會認可之信用評等機構評定達一定等級以上。
三、具有國際認購（售）權證業務經驗。
四、最近二年在其本國未曾受主管機關處分。
五、其在中華民國境內之分支機構或直接或間接持股百分之百之子公司在中華民國境內設立之分支機構淨值應達新臺幣一億五千萬元以上，並符合前項第二款至第七款規定。
發行人委託外國機構擔任風險管理機構或外國發行人，應先取得外匯業務主管機關同意函。
發行人向本會申請核給其發行認購（售）權證之資格認可，應檢具「發行認購（售）權證資格認可申請書」，載明應記載事項，連同應附書件二份，向證券交易所或櫃檯買賣中心提出申請，並經證券交易所或櫃檯買賣中心審查同意後加具審查意見，函報本會審核。
第一項申請核給資格認可案件，本會以會計師依規定查核簽證之財務報告、律師出具之適法性意見書、信用評等資料、相關書件及證券交易所或櫃檯買賣中心之審查意見予以審核。