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Article 1     These Operating Procedures are adopted pursuant to Article 9-1, paragraph 11 of the Taipei Exchange Rules Governing Securities Trading on the TPEx.
Article 2     In the event of a split or reverse split of the beneficial certificates of an exchange-traded securities investment trust fund or an exchange-traded futures trust fund (collectively referred to as an “ETF”) managed by a securities investment trust enterprise (SITE) or a futures trust enterprise (FTE), the procedures for TPEx trading of the beneficial certificates are governed by these Operating Procedures unless otherwise provided by laws and regulations.
Article 3     If a SITE or FTE intends to carry out a split or reverse split of the beneficial certificates of a TPEx listed ETF managed by it, the SITE or FTE, not later than 30 days prior to the book closure date for suspension of changes to the register of beneficial owners, shall submit an application to the TPEx, accompanied by the approval letter from the competent authority and relevant documents including an application form and the proposal for the split or reverse split of the ETF beneficial certificates, and furthermore shall duly file a report through the Internet information reporting system designated by the TPEx.
Article 4     The proposal under the preceding article shall specify the following details:
  1. The ratio for the split or reverse split of the beneficial certificate units.
  2. The dates of the beneficial certificate book closure period, which shall be a period of 5 days. The first, fourth, and fifth days of the book closure period shall be business days, and the second and third days shall be non-business days.
  3. The dates of the period of suspension of creation and redemption in the primary market. That period shall be from the second business day prior to the beneficial certificate book closure date to the expiration of the book closure period.
  4. The dates of the period of suspension of trading of the beneficial certificates on the market. That period shall be from the second business day prior to the beneficial certificate book closure date to the expiration of the book closure period.
  5. The date of commencement of TPEx trading of the new beneficial certificates. That date shall be the next business day following the expiration of the beneficial certificate book closure period, and furthermore shall be the same date as the record date for the issuance of the new replacement beneficial certificates and the termination date of TPEx trading of the original beneficial certificates.
Article 5     These Operating Procedures, and any amendments hereto, shall be publicly announced and enter into force after submission to and approval by the Competent Authority.