Regulations Governing Permission and Administration of Securities and Futures Business Dealings and Investment Between the Taiwan Area and the Mainland Area Article 37

When a Mainland-area securities or futures institution or a Mainland-invested securities or futures institution undertakes equity investment in a Taiwan-area securities or futures institution, the total amount of cumulative investment and holdings by any such individual institution in any single Taiwan-area securities or futures institution listed on the Taiwan Stock Exchange (TWSE) or Taipei Exchange (TPEx) may not exceed 5 percent of the total issued voting shares or total authorized capital; the total amount of cumulative investment and holdings by all such institutions in any single Taiwan-area securities or futures institution listed on the TWSE or TPEx may not exceed ten percent of the total issued voting shares or total authorized capital.When a Mainland-area securities of futures institution or a Mainland-invested securities or futures institution undertakes equity investment in a Taiwan-area securities or futures institution, the total amount of cumulative investment and holdings by any such individual institution, in any single Taiwan-area securities or futures institution not listed on the TWSE or the TPEx, may not exceed 10 percent of the investee's total issued voting shares or total authorized capital; the total amount of cumulative investment and holdings by all such institutions in any single Taiwan-area securities or futures institution listed on the TWSE or TPEx may not exceed 15 percent of the investee's total issued voting shares or total authorized capital.