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Enforcement Letter

Organisation: Financial Supervisory Commission (FSC)
Issue No.: Financial-Supervisory-Securities-Trading-1080311451 
Issue Date: 2019/04/25
Content:     Order of the Financial Supervisory Commission (FSC)

    Issue date: 25 April 2019
    Issue no.: Financial-Supervisory-Securities-Trading-1080311451

  1. Pursuant to Article 192-1, paragraph 1 (the proviso), and the mutatis mutandis application of Article 192-1, paragraph 1 (the proviso) under Article 216-1, paragraph 1, of the Company Act, all TWSE and TPEx listed companies shall adopt a candidate nomination system for the election of directors and supervisors. Furthermore, the adoption of the system shall be stated in their articles of incorporation and the shareholders shall elect the directors and supervisors from among the nominees listed in the roster of candidates.
  2. This Order is effective from 1 January 2021.

    Originals: To be posted on the public notice boards of the FSC and the Securities and Futures Bureau, FSC
    Copies: Legal Affairs Committee, Executive Yuan; Ministry of Economic Affairs; FSC (Department of Legal Affairs and Department of Information Management); FSC Banking Bureau; FSC Insurance Bureau; FSC Financial Examination Bureau; Taiwan Stock Exchange Corporation; Taipei Exchange; Taiwan Depository & Clearing Corporation; Taiwan Securities Association; Taiwan Stock Affairs Association; Lex Data Information Inc.; Root International Information Co., Ltd.