Company Act Article 271Aug. 1, 2018

After approval to issue new shares publicly is granted to a company, if any of the particulars in the application shall be found contrary to law or ordinance or to be fraudulent, the authority in charge of securities affairs may annul the approval.

In case of the annulment in accordance with the preceding paragraph, all unissued shares shall be withheld from issuing and holders of issued shares may, from the time of annulment, demand repayment at the original fixed value of the shares together with legal interest and may claim compensation for loss or damage resulting there-from.

The provisions of Article 135, Paragraph 2 shall apply, mutatis mutandis, to this article.

Same Article Laws

Other Related Laws

Company Act Article 135Aug. 1, 2018

Upon finding either of the following discrepancies in an application for public offering of shares, the authority in charge of securities may disapprove the application or may revoke its approval previously granted to the applicant: "1 Where any statement made in the application is found to be contrary to the applicable laws and/or regulations or to be false; or "2.Where there is any change in the matters described in the application; and no correction thereto has been made within a given time limit after having been required to do so. "Under the circumstance set forth in Item 2 of the preceding Paragraph, the authority in charge of securities may impose on each of the promoters a fine in an amount not less than NT$ 20,000 but not more than NT$ 100,000.

Details >

Corporate Consulting