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Administrative Sanction

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Fines Imposed on the Responsible Person of Sanyang Motor Co., Ltd.

I.    Date the punishment was imposed: 31 May 2017
II.    Recipient of the punishment: Wu, XX, the responsible person of Sanyang Motor Co., Ltd.
III.    Legal basis of the punishment: Paragraph 7, Article 26-3 and Subparagraph 2, Paragraph 1, Article 178 of the Securities and Exchange Act.    
IV.    Facts of the violation and reasons: On March 7, 2017, the total number of directors of Sanyang Motor Co., Ltd. fell below one-third of the total number prescribed by the articles of incorporation. The company, however, failed to complete the by-election within 60 days of the occurrence of that fact. This constitutes a violation of Paragraph 7, Article 26-3 of the Securities and Exchange Act.
V.        The disciplinary action: Based on Subparagraph 2, Paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act, a penalty of NTD240,000 is imposed on the responsible person of the company.

Contact Unit:Division Chief Ms. Chang Yi-xin, Corporate Finance Division of Securities and Futures Bureau
Contact Number:2774-7409
If you have any questions, please visit:
http://fscmail.fsc.gov.tw/FSC-SPS/SPSB/SPSB01002.aspx
Visitor: 517   Update: 2017-06-05