Regulations Governing the Issuance of Exchange Traded Notes by Securities Firms Article 11

After a securities firm has obtained effective registration to issue or reopen ETNs, the competent authority may void or revoke the effective registration if it discovers any of the following circumstances:1.The issuance does not commence by the deadline set forth in Article 12 hereof, counting inclusively from the date upon which the securities firm receives the written notice of effective registration.2.Material violation of the provisions of Articles 16 and 17 hereof.3.Violation of the provisions of Article 20 of the Act.4.Violation of the provisions of Article 7, paragraph 2 hereof.5.The securities firm fails to announce or report to the competent authority, as required by Article 36, paragraph 3, subparagraph 2 of the Act, any event arising after the securities firm's effective registration for issuance of ETNs that has a material effect on investors' rights or interests, within 2 days counting inclusively from the date of occurrence of the fact.6.Any other necessity in order to protect the public interest, or other violation of these Regulations or of the restrictions or prohibitions of the competent authority in force at the time of effective registration.When a securities firm's effective registration is voided or revoked by the competent authority, it shall handle the relevant matters in accordance with the ETN prospectus and applicable TWSE or TPEx rules.