Punishment of Administrative Fine imposed on the Responsible Person of Chilisin Electronics Corp. (Public Company, Stock Code 2456)
2017-07-26
1. Date the punishment was imposed: July 26, 2017
2. Recipient of the punishment: Chen, ○○, Responsible person of the conduct by Chilisin Electronics Corp.
3. Legal basis of the punishment: Article 36-1 of the Securities and Exchange Act, paragraph 1, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
4. Facts of the violation and reasons: The Board of Chilisin Electronics Corp. resolved in the meeting on January 23, 2017 the indirect assignment of the shareholdings of Dutch company, FERROXCUBE INTERNATIONAL HOLDING B.V., FERROXCUBE HONG KONG LIMITED in Hong Kong and FERROXCUBE (DONGGUAN) LTD. in China. The investment thereof has exceeded the limit set forth in the Procedures of Acquisition and Disposal of Assets effective at the time of the Company’s conduct. It is therefore determined as a violation against Article 36-1 of the Securities and Exchange Act, and paragraph 1, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies, in which the parent company is obliged to supervise the creation and enforcement of the procedures on the acquisition and disposal of assets by its subsidiary.
5. The disciplinary action: The responsible person of the conduct by the Company is charged with punishment of an administrative fine of NTD 240,000 pursuant to pursuant to subsection 7, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
Contact Office: Chang, Yi-hsin, Section Chief, Securities and Futures Bureau Corporate Finance Division
Contact Numbers: (02)2774-7409
Please send your inquiry to: http://fscmail.fsc.gov.tw/FSC-SPS/SPSB/SPSB01002.aspx
2. Recipient of the punishment: Chen, ○○, Responsible person of the conduct by Chilisin Electronics Corp.
3. Legal basis of the punishment: Article 36-1 of the Securities and Exchange Act, paragraph 1, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
4. Facts of the violation and reasons: The Board of Chilisin Electronics Corp. resolved in the meeting on January 23, 2017 the indirect assignment of the shareholdings of Dutch company, FERROXCUBE INTERNATIONAL HOLDING B.V., FERROXCUBE HONG KONG LIMITED in Hong Kong and FERROXCUBE (DONGGUAN) LTD. in China. The investment thereof has exceeded the limit set forth in the Procedures of Acquisition and Disposal of Assets effective at the time of the Company’s conduct. It is therefore determined as a violation against Article 36-1 of the Securities and Exchange Act, and paragraph 1, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies, in which the parent company is obliged to supervise the creation and enforcement of the procedures on the acquisition and disposal of assets by its subsidiary.
5. The disciplinary action: The responsible person of the conduct by the Company is charged with punishment of an administrative fine of NTD 240,000 pursuant to pursuant to subsection 7, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
Contact Office: Chang, Yi-hsin, Section Chief, Securities and Futures Bureau Corporate Finance Division
Contact Numbers: (02)2774-7409
Please send your inquiry to: http://fscmail.fsc.gov.tw/FSC-SPS/SPSB/SPSB01002.aspx
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Update：
2017-07-31