Securities and Exchange Act Article 7
The term "public offering" as used in this Act means the act of offering securities to the general public by the promoters prior to the incorporation of the company or by the issuing company prior to the issuance of the securities.The term "private placement" as used in this Act means the act of offering securities to specific persons pursuant to paragraphs 1 and 2 of Article 43-6 by a public company.
中文原文 證券交易法第7條
本法所稱募集，謂發起人於公司成立前或發行公司於發行前，對非特定人公開招募有價證券之行為。
本法所稱私募，謂已依本法發行股票之公司依第四十三條之六第一項及第二項規定，對特定人招募有價證券之行為。
本法所稱私募，謂已依本法發行股票之公司依第四十三條之六第一項及第二項規定，對特定人招募有價證券之行為。