25 May, 2018
In its letter dated April 3, 2018, the FSC issued the following administrative interpretation regarding Article 22(1) of the Securities and Exchange Act:
Both the Government bonds denominated in a foreign currency and the ordinary corporate bonds denominated in a foreign currency that offered and issued by a foreign issuer within the territory of the Republic of China for sale to professional investors only (the “Securities”) are the “exempt securities” under Article 22(1) of Securities and Exchange Act.
The public offering or issuing of the Securities are exempt from the advance registrations with and approval by the Competent Authority as required by Article 22(1) of the Securities and Exchange Act, although such foreign issuers must still comply with the requirements set forth in the FSC’s letter.
For further information, please contact:
Steven Yen, Tsar & Tsai Law Firm
StevenYen@TsarTsai.com.tw
