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Title: Taipei Exchange Handling Procedures for Regulation of Financial and Business Affairs of Emerging Stock Companies
Date: 2016.05.13 ( Announced )
Date: 2017.05.10 ( Amended )

Article Content

 
Chapter I General Principles
Article 1     The Taipei Exchange (TPEx), in order to make appropriate advance preparations for operational crises that may occur at emerging stock companies during ordinary times, to raise the quality of financial information disclosure by emerging stock companies, to reduce the extent of their impact through timely disclosures of relevant information, and to create the capacity to handle the occurrence of extraordinary events in a flexible and effective manner, so as to reduce the impact on the rights and interests of the investing public, adopts these Handling Procedures in accordance with Article 2 of the Contract for TPEx Trading of Emerging Stock signed between the TPEx and emerging stock companies and Article 32 of the Taipei Exchange Rules Governing the Review of Emerging Stocks for Trading on the TPEx.
    These Handling Procedures are not applicable to emerging stock companies classified in the financial industry.
Article 2     TPEx regulation of the financial and business affairs of emerging stock companies, including the review of financial reports, routine regulation (regularly scheduled audits), and regulation by exception (special audits relating to material events) except where law or regulation provide otherwise, is to be carried out in accordance with these Handling Procedures. In the event of a change in any regulatory provision on which these Handling Procedures are based, the new provisions apply.
Article 3     These Procedures shall apply to the review by the TPEx of the annual and second quarter financial reports of emerging stock companies that are publicly announced or filed pursuant to Article 36 of the Securities and Exchange Act or restated pursuant to Article 6 of the Securities and Exchange Act Enforcement Rules, and the financial forecasts and relevant information of emerging stock companies prepared, updated, corrected, or restated pursuant to the Regulations Governing the Publication of Financial Forecasts of Public Companies (the "Financial Forecast Regulations").
Chapter II Review of Financial Reports and Routine Regulation
Article 4     Reviews of emerging stock company financial reports are categorized as either formal reviews or substantive reviews.
Article 5     All emerging stock companies are subject to formal review by the TPEx of the annual and second quarter financial reports. The TPEx conducts formal reviews according to the Formal Review Checklist (form in Attachment 1).
    If the formal review of financial reports has found that the financial report submission is not in compliance with regulations, the documents filed are incomplete, or the CPA issues an audit or review report other than an unqualified opinion, affecting the fair presentation of the financial reports to the extent that a restatement is required, or there are significant deficiencies in the internal control system, the TPEx, within 3 working days after the deadline for submission of the financial report, will report to the Financial Supervisory Commission (the "competent authority") (form in Attachment 2), and list the company as one that must be audited under Article 6.
Article 6     With respect to substantive review and regularly scheduled audits of the financial reports of domestic emerging stock companies, the TPEx, for auditing based on the annual financial reports and for auditing based on the second quarter financial reports, will select at least 5 percent of the companies as companies to be audited (not including emerging stock companies that have applied for TPEx listing or TWSE listing), and within 1 month after the deadline for submission of the financial reports, the TPEx shall report to the competent authority for recordation (form in Attachment 3) the names of the companies to be audited, the reason for their selection, the reasons why an on-site audit is required, and the key points for audit, and within 2 months thereafter the TPEx shall complete the substantive review work and then report it to the competent authority for recordation, and when necessary, the TPEx may file with the competent authority for approval of an extension of the substantive review period. However, if an emerging stock company fails to forward its financial report by the prescribed deadline, the deadline for its substantive review shall be calculated from the date the company forwards the financial report.
    The TPEx will select companies to be audited based on the following criteria:
  1. Audit selection based on the following standards:
    1. A relatively large year-on-year decline in operating revenue, operating income, or net income before tax for the same period.
    2. Substantial investment loss in the share of the profits/losses of associates and joint ventures accounted for using the equity method.
    3. Purchases from or sales to related parties, or receivables from related parties or advance payments to related parties, or shareholding or asset transactions with related parties, involve substantial amounts or involve irregular transaction conditions.
    4. The amount of real estate acquired or disposed of in the current period reaches NT$100 million and accounts for 3 percent or more of the total assets at the end of the period (this does not apply to acquisition or disposal by construction companies of land to be used for construction).
    5. An excessively high amount of endorsements or guarantees.
    6. The combined amount of loans to others at period-end reaches 10 percent or more of equity, or the increase in loans to others in the current period reaches 3 percent or more of equity.
    7. Poor financial ratios.
    8. Major changes in accounting items.
    9. The net cash flow from operating activities in the current period is outflow and the amount reaches 3 percent or more of total period-end assets; or the net cash flow from operating activities in the current period declined by 50 percent compared to the amount of the preceding period and the amount of the decline reaches 3 percent or more of total period-end assets.
    10. The company has been registered as an emerging stock company for two full fiscal years or longer, but has not applied for listing on the TPEx (or TWSE).
  2. A company that meets any criterion below will be categorized as a company that must be audited, provided that if after analysis it is deemed unnecessary to perform an audit, the company need not be so categorized:
    1. Irregularities are found at the company based on the formal review of its financial reports.
    2. There has been a material change in the company's scope of business.
    3. Any of the criteria in items C. or F. of the preceding subparagraph apply, while the amount of the relevant transactions is also large, and the company has not undergone a special audit in the preceding period.
    4. The period-on-period increase or decrease of the intangible assets in the current period has reached NT$100 million, and accounts for 20 percent or more of the total assets.
    5. The discrepancy between the self-assessed un-audited operating revenues and the figures audited (or reviewed) by the CPA reaches 5 percent or more.
    6. There have been consecutive deficits in the most recent 3 years and the incremental amount of current pre-tax income as compared to the same period of the preceding fiscal year reaches 30 percent or more of the amount of share capital stated in the financial report. In the case of shares having no par value, or a par value other than NT$10, for the calculation of the aforementioned 30 percent of share capital, 15 percent of net worth shall be substituted.
    7. The TPEx deems audit necessary for any other reason.
    For a company selected to be audited under the preceding paragraph, each item set out in the substantive review checklist (form in Attachment 4) shall be audited in detail with respect to whether its accounting treatment violates relevant laws or regulations or generally accepted accounting principles. Additionally, prior to conducting regularly scheduled special audits, the key audit items and the audit procedures shall be drawn up. Standard audit procedures for regularly scheduled audits shall be separately prescribed by the TPEx. After concluding the audit, the TPEx shall produce a report on the regularly scheduled special audit, the content of which shall include the following items (form in Attachment 4):
  1. The effect on the company of the key audit items, and an explanation of the company's response measures.
  2. The lead advisory recommending securities firm's opinion on the auditing of the relevant audit items and evaluation opinion, and when necessary, an opinion on related matters issued by the attesting CPAs.
  3. Any violation of securities-related laws or regulations discovered during the audit.
  4. The TPEx's comprehensive analysis opinion, recommendations, and adopted measures.
    Among the audit items, attention shall be paid to the following matters:
  1. Whether investments in derivatives products have been duly disclosed.
  2. Whether there are any irregularities in related party transactions.
  3. Whether there is any violation of the provisions of Article 15 of the Company Act regarding the lending of funds of a company to others.
  4. Whether there are any irregularities in the purchase or sale of block assets.
  5. Whether any endorsement or guarantee was made for others for any reason other than as necessary for company business transactions.
  6. Follow-up on any irregularities listed in the previous audit.
    If and when necessary during the review period, the TPEx may require the emerging stock company's lead advisory recommending securities firm to perform an audit of the audit items and present its evaluation opinion, and may contact the attesting CPAs and ask them to give an opinion, or requisition the CPAs' relevant working papers. After completing the review of a financial report and a regularly scheduled special audit, the TPEx shall explicitly express a review conclusion and an opinion on a concrete method of handling. After the special audit reports for the selected companies have been issued, the TPEx shall continue to monitor those companies to ascertain any change in their operational status.
    If the audit referred to in the preceding paragraph finds the existence of any of the following circumstances, such circumstances shall be handled immediately, and the advisory recommending securities firm shall be notified by letter:
  1. If a material irregularity or violation of securities-related laws and regulations is discovered, whereupon the TPEx files a report with the competent authority for handling.
  2. If a material deficiency is found in the internal control system, whereupon the TPEx files a report with the competent authority and requests that the audited company engage a CPA to conduct a special audit of its internal control system and issue a review report.
  3. When there is any violation of TPEx bylaws, whereupon a disposition is made in accordance with regulations.
Article 6-1     With respect to substantive review and regularly scheduled audits of the financial reports of foreign emerging stock companies, the TPEx, for auditing based on the annual financial reports and for auditing based on the second quarter financial reports, will randomly select at least 35 percent of the companies as companies to be audited (not including foreign emerging stock companies that have applied for TPEx listing or TWSE listing), and a foreign emerging stock company must be selected for auditing at least once every 5 years. Within 1 month after the deadline for submission of the financial reports of foreign emerging stock companies, the TPEx shall report to the competent authority for recordation (form in Attachment 3) the names of the companies to be audited, the reasons why a special audit is required, and the key points for audit, and within 2 months thereafter the TPEx shall complete the substantive review work and then report it to the competent authority for recordation, and when necessary, the TPEx may file with the competent authority for approval of an extension of the substantive review period. However, if a foreign emerging stock company fails to forward its financial report by the prescribed deadline, the deadline for its substantive review shall be calculated from the date the company forwards the financial report.
    The TPEx shall audit in detail each item set out in the substantive review checklist (form in Attachment 4) with respect to whether its accounting treatment is reasonable. Additionally, prior to conducting regularly scheduled special audits, the key audit items and the audit procedures shall be drawn up. After concluding the audit, the TPEx shall produce a report on the regularly scheduled special audit, the content of which shall include the following items (form in Attachment 4):
  1. The effect on the company of the key audit items, and an explanation of the company's response measures.
  2. The lead advisory recommending securities firm's opinion on the auditing of the relevant audit items and evaluation opinion, and when necessary, an opinion on related matters issued by the attesting CPAs.
  3. Any violation of securities-related laws or regulations discovered during the audit.
  4. The TPEx's comprehensive analysis opinion, recommendations, and adopted measures.
    Among the audit items, attention shall be paid to the following matters:
  1. If the Financial or Operational Material Event Checklist filed with the TPEx by the lead advisory recommending securities firm shows any material event or there is any material irregularity in the audit conclusions, the TPEx shall follow up on an ongoing basis to understand the effect on the operational condition of the audited company.
  2. The circumstances of any material information reported by the audited company shall be ascertained, to gain a firm grasp of its effect on the operational condition of the audited company.
  3. If there is any material difference in the monetary amounts of any items in the period-on-period comparison of the balance sheets or comprehensive income statements, the reason for, and reasonableness of, the change shall be ascertained.
    The provisions of Article 6, paragraphs 5 and 6 of these Handling Procedures shall also apply when the TPEx conducts substantive reviews of financial reports and regularly scheduled special audits of foreign emerging stock companies.
Article 7     All domestic and foreign emerging stock companies are subject to formal reviews of financial forecasts, and the formal reviews are conducted in accordance with the formal review checklist (form in Attachment 5). If any material submitted or publicly disclosed is incomplete, or the period between the date of public announcement and filing and the date of preparation exceeds the prescribed period, or the CPA issues other than an unqualified review report, the TPEx shall compile all such matters and report them to the competent authority by the 10th day of the month following the date on which the emerging stock companies forwarded the reports to the TPEx (form in Attachment 6).
Article 8     All domestic and foreign emerging stock companies are subject to substantive reviews of financial forecasts, which are done on a selective audit basis. Verification, and reporting to the competent authority, of the audit report shall be completed within 2 months after the compilation report for formal reviews mentioned in the preceding article is reported to the competent authority. When necessary an application may be filed with the competent authority for approval of an extension of the substantive review period. However, if an emerging stock company fails to forward its financial forecast by the prescribed deadline, the deadline for its substantive review shall be calculated from the date the company forwards the financial forecast.
    If any one of the following circumstances exists, in addition to being selected for audit, a company may be subject to a spot audit in any quarter, depending on the circumstances:
  1. For emerging stock companies that publicly disclose complete financial forecasts:
    1. Explanatory text for the quarter is not updated in that quarter, but is updated the following quarter.
    2. There is a decline of 30 percent or greater in comprehensive income in the updated (or corrected) financial forecast relative to the original forecast, and the amount of the decline exceeds NT$150 million.
    3. A company's self-assessed un-audited figure for comprehensive income or CPA audited and attested comprehensive income, reported after fiscal year end, declines by 20 percent compared to the figure for comprehensive income in the most recent publicly announced and filed financial forecast, and the amount of decline reaches NT$30 million and 0.5 percent of the share capital stated in the financial reports, and also, compared to the comprehensive income in the original forecast, declines by 30 percent and in an amount exceeding NT$150 million. However, in the case of a company whose shares have no par value or a par value other than NT$10, 0.25 percent of equity shall be substituted for the calculation of the aforesaid 0.5 percent of share capital.
    4. Comprehensive income in the updated (or corrected) financial forecast changes from surplus to deficit, and the amount of discrepancy exceeds NT$100 million or the updated (or corrected) pre-tax losses reach NT$50 million.
    5. Questions are raised by external parties about a change in basic assumptions.
  2. For emerging stock companies that publicly disclose summary financial forecasts:
    1. A decline in comprehensive income in the current quarter, as audited or reviewed by a CPA, of 10 percent or more from the figure for the current quarter in the most recent publicly announced and filed financial forecast, and the amount of decline exceeds NT$50 million.
    2. A decline of 10 percent or more in comprehensive income for the current quarter in the updated (or corrected) financial forecast relative to the figure for the current quarter in the original financial forecast, and the amount of decline exceeds NT$50 million.
    3. Comprehensive income for the current quarter in the updated (or corrected) financial forecast changes from surplus to deficit, and the amount of the difference exceeds NT$80 million or the updated (or corrected) pre-tax losses for the current quarter reach NT$30 million.
  3. If forecasted comprehensive income is presented in interval estimates, calculation of the decline in comprehensive income for the selection of companies pursuant to the preceding paragraph will use the arithmetic mean of the upper and lower limits of the intervals for current quarter comprehensive income in the original and the updated (or corrected) financial forecasts.
    For a company selected to be audited under the preceding paragraph, each item set out in the substantive review checklist (form in Attachment 7) shall be audited in detail, and the following matters shall also be noted:
  1. Whether there are any irregularities in the CPA review report.
  2. Whether the basic assumptions in the financial forecast are reasonable.
  3. Whether there are any irregularities in the timing of the update (correction) or restatement of the financial forecast.
  4. Whether all necessary items are included in the summary of major basic assumptions in the financial forecast.
  5. The improvement of any deficiencies or follow-up review of any irregularities listed in the previous review.
    The following matters shall be noted in evaluating whether the emerging stock company has delayed the updating (or correction) of its financial forecast:
  1. The difference between audited companies' pre-update estimates and their self-assessed un-audited figures shall be monitored each month. If the difference between those figures meets the standard for the timing of updates, the cause of the difference between the standard and actual update times, and its basis, shall be ascertained.
  2. The time of occurrence of the cause for a financial forecast correction shall be monitored in order to ascertain the cause of the difference between the time of its occurrence and the actual time of the correction, and the basis of the cause.
  3. Supporting evidentiary information and the reasonableness of the explanation of the reason for the update (or correction) by the audited company shall be analyzed.
    The following matters shall be noted when assessing the reasonableness of the basic assumptions of the financial forecasts:
  1. Material differences between the audited company's financial forecasts before and after the update (or correction) shall be compared, the main cause of the differences shall be ascertained, and the reasonableness of the materials for evaluation of basic assumptions shall be analyzed item-by-item.
  2. Historical financial information on the audited company for the preceding 2 fiscal years shall be analyzed to determine if there are material discrepancies with the financial forecasts for the current year, and their cause and reasonableness shall be ascertained.
  3. A relevant analysis report for the audited company's industry shall be obtained, and financial forecasts of other companies in the industry shall be compared in order to understand trends in the industry's business cycle.
  4. It shall be ascertained whether the audited company's revenues have been overestimated or expenditures underestimated in the projected figures for non-operating revenue and expenditures. If the audited company plans disposal of non-current financial assets or major assets, then an objective and accurate price reference or appraisal report shall be obtained as a basis for determining the reasonableness of the figures prepared by the company. When an evaluation on the estimates of the share of the profits/losses of associates and joint ventures accounted for using the equity method is conducted, then materials related to changes in relevant industries, the same industry, or the securities markets shall also be obtained to facilitate analysis and judgment.
    If necessary during the review period, a CPA may be engaged to provide opinions, or the attesting CPA's relevant working papers may be requisitioned in order to ascertain whether the attesting CPA performed the review in accordance with the Regulations Governing Auditing and Attestation of Financial Statements by Certified Public Accountants as well as generally accepted auditing standards or relevant Statements of Auditing Standards. After completing the review of a financial forecast, the TPEx shall explicitly express a review conclusion and an opinion on a concrete method of handling.
    If any irregularity in Article 6, paragraph 6 is discovered in an audit under the preceding paragraph, in addition to rapidly handling the matter in accordance with the preceding paragraph, the TPEx may, if any of the following circumstances is found to apply to the emerging stock company, give written notice that the emerging stock company has been issued one demerit and placed under consideration for selection under these Handling Procedures, with a copy sent to the competent authority for recordation. If the circumstances are serious, the TPEx may also impose a penalty of NT$10,000.
  1. The company has not timely updated (or corrected) its financial forecast pursuant to the Financial Forecast Regulations.
  2. The basic assumptions of the financial forecasts have not undergone reasonable evaluation.
  3. The financial forecast has not been approved by the board of directors, unless with legitimate reason.
  4. The company has not filed the relevant documentation pursuant to the Financial Forecast Regulations.
  5. The company fails to conduct public announcement and filing as required by the Financial Forecast Regulations and material errors or omissions exist.
  6. The company has been notified to make improvement or supplementation but fails to do so by the prescribed deadline.
Article 9     The competent authority may adjust the companies selected for audit on the basis of Article 6, Article 6-1, and Article 8 as it deems necessary. Review reports shall be retained for a period of 3 years, during which they may be requisitioned by the competent authority.
Chapter III Regulation by Exception
Article 10     If the TPEx discovers that any one of the following circumstances exists at an emerging stock company, it shall handle the impact of that material matter on company operations or the market in accordance with Article 11 of these Handling Procedures:
  1. Dishonor of a negotiable instrument due to insufficient deposits, refusal by a financial institution to honor a transaction, or any other loss of credit.
  2. The company or its responsible person has experienced any major litigious or non-litigious matter, administrative disposition, administrative dispute, provisional remedy procedure, or compulsory execution matter, with a material effect on the finances or business of the company.
  3. The company makes a major cut in production or undergoes a full or partial work stoppage, leases a company plant or important equipment to others, or creates a pledge on all or a major portion of its assets, with a material impact on company operations.
  4. The occurrence of any circumstance under Article 185, paragraph 1 of the Company Act.
  5. A court has ruled to prohibit the transfer of stock of the company pursuant to Article 287, paragraph 1, subparagraph 5 of the Company Act.
  6. The company's financial operations are adversely affected due to it becoming subject to a public tender offer by another person or acquiring another enterprise.
  7. Any matter required to be publicly announced and filed pursuant to the Regulations Governing Public Tender Offers for Securities of Public Companies.
  8. The company or its responsible person is restricted from leaving the country, or comes under police or prosecutorial investigation, or is indicted.
  9. The company changed its CPA two or more times within the past year for any reason other than internal adjustments within the CPA firm.
  10. The company lacks a lead advisory recommending securities firm or has only one remaining advisory recommending securities firm.
  11. The Financial or Operational Material Event Checklist filed with the TPEx by the emerging stock company's recommending securities firm shows any material event or there is any material irregularity in the audit conclusions.
  12. A foreign emerging stock company no longer has an agent for litigious and non-litigious matters with a domicile or residence in the Republic of China (Taiwan).
  13. The amount of open interest in derivatives held for trading purposes in the current month shows a month-on-month increase of 10 percent or more of the share capital stated in the financial report, or the amount of realized and unrealized losses shows a month-on-month increase of NT$100 million or more. In the case of shares having no par value or a par value other than NT$10, for the calculation instead of the aforesaid 10 percent of share capital, 5 percent of net worth shall be substituted.
  14. A dispute occurs over managerial control, re-election of directors/supervisors cannot take place on schedule, or one-half or more of the originally elected directors/supervisors are unable to exercise their powers.
  15. There is a major correction to the content of required material information previously input into the TPEx-designated information reporting website.
  16. As the competent authority or the TPEx deems necessary for any other cause.
Article 11     When any material event set forth in the preceding article occurs at an emerging stock company, the TPEx will conduct verification and disclosure pursuant to the Rules Governing the Review of Emerging Stock, and in addition, shall gain an understanding of and analyze the material event that occurred at the company, read the audit and analysis report prepared by the recommending securities firm with respect to the material event, and collect relevant data and thoroughly ascertain the circumstances of the case, and fill out an analysis report (form in Attachment 8). If the audited company is a domestic emerging stock company, when a material irregularity is found, an on-site audit shall be conducted. The standard audit procedures for material matters will be separately adopted by the TPEx. If the audited company is a foreign emerging stock company, and if after obtaining explanations from the recommending securities firm and the attesting CPAs, it still cannot be clearly ascertained whether there has been a material irregularity, the foreign emerging stock company shall cooperate in undergoing a targeted examination conducted by the TPEx or by a CPA or professional institution designated by the TPEx, within the audit scope designated by the TPEx, and shall submit the examination results to the TPEx. The audited company furthermore shall bear all audit-related expenses. (The TPEx Operations Flow Chart for Handling Material Events of Foreign Emerging Stock Companies is given in Attachment 8-1.)
    After the TPEx has completed an on-site audit or a targeted examination referred to in the preceding paragraph, it shall prepare a special audit report on the material event, which shall include the following items (form in Attachment 9):
  1. The company's basic financial and business information.
  2. The cause of the occurrence of the material event at the company, an explanation of its impact on the company itself, on the group to which it belongs, and on the industry and the market, and the company's response measures.
  3. The lead advisory recommending securities firm's audit evaluation opinion on the material event, and when necessary, an opinion on relevant matters issued by the attesting CPA.
  4. Key audit items and audit results.
  5. Any matters discovered that are in violation of securities-related laws and regulations or TPEx rules.
  6. The TPEx's comprehensive analysis opinions, recommendations, and the measures adopted by it.
Article 12     If the TPEx finds any material irregularities when it carries out an on-site audit or designates a CPA or professional institution to conduct a targeted examination of a foreign emerging stock company, the TPEx shall report the matter to the competent authority (form in Attachment 10), and after the completion of the audit, complete the special audit report on the material event as soon as possible, and submit it to the competent authority. If no irregularities are found, the report may be submitted to the competent authority by the TPEx as part of its summary reports at regular intervals.
    The TPEx shall, on an ongoing basis, monitor and ascertain any changes in the operating condition of any company listed as subject to a special audit due to a material event.
Chapter IV Matters Required to be Done by Audited Companies
Article 13     With respect to deficiencies found in carrying out a special audit of an emerging stock company, the TPEx may require the company to submit a review report, and to refer to relevant laws, regulations, and rules and formulate concrete measures for improvement or resolution of the deficiencies. When necessary, it may also require the company to submit the audit report from the CPA's special audit of its internal control system.
    The review report referred to in the preceding paragraph shall specify the matters listed below, and shall be affixed with the signature or seal of the emerging stock company's responsible person and the supervisors of its finance, business, and internal audit departments, and shall be submitted together with relevant documents and statements:
  1. The facts, a cause analysis, an assessment of the impact on the company's finances and business, and estimates of the impact in monetary terms with respect to the occurrence of key audit items specified in Articles 6, 6-1, or 11.
  2. Improvement and resolution plans.
  3. Personnel with custody of, and the location of, account books and documents and objects of property.
  4. Other matters specified by the competent authority or the TPEx.
    With respect to material deficiencies found in an audit of a company, the TPEx may also require the company to send personnel to attend education classes held by an organization designated by the competent authority, and forward a copy of the notice of that requirement to the organization designated by the competent authority. If the company fails to send employees to attend, the TPEx may, depending on the nature of the deficiency, list the company as a priority target for subsequent measures under these Handling Procedures.
Chapter V Handling of Violations
Article 14     Any of the following circumstances discovered at an audited company during a special audit undertaken by the TPEx or a TPEx-designated CPA or professional institution will be deemed evasion or refusal of the audit, and depending on the severity of the circumstances, the TPEx may impose a penalty of NT$10,000 on the company or suspend the TPEx trading of its securities:
  1. Refusing, impeding, or evading an inspection undertaken by the TPEx or a TPEx-designated CPA or professional institution.
  2. Failure to submit account books, forms/statements, documents, or other reference or report materials within the specified deadline to the TPEx or TPEx-designated CPA or professional institution.
Chapter VI Supplementary Provisions
Article 15     These Handling Procedures, and any amendments hereto, shall come into force after submission to the competent authority for approval and recordation. The addition, deletion, or amendment of attachments or tables related to these Handling Procedures shall come into force after ratification by the president of the TPEx.