Fine Imposition on Responsible Person of Solar Applied Materials Technology Corporation
2022-03-16
I. Date of sanction: March 16, 2022
II. Object of sanction: XX Ma, the responsible person of Solar Applied Materials Technology Corporation at the time of the act
III. Legal basis for the sanction: Subparagraph 8, paragraph 3 of Article 26, subparagraph 9, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act, and paragraph 1, Article 17 of the Regulations Governing Procedure for Board of Directors Meetings of Public Companies.
IV. Fact of violation:
(I) “A company shall formulate rules for the conduct of directors meetings; regulations governing the content of deliberations, procedures, matters to be recorded in the meeting minutes, public announcement, and other matters for compliance shall be prescribed by the Competent Authority.” and “Minutes shall be prepared of the discussions at board of directors meetings. The meeting minutes shall record the following: …… 8. Extraordinary motions: the name of the mover; the method of resolution and the result for each motion; a summary of the comments made by directors, supervisors, experts, or other persons; ..….” are respectively prescribed in subparagraph 8, paragraph 3, Article 26 of the Securities and Exchange Act and paragraph 1, Article 17 of the Regulations Governing Procedure for Board of Directors Meetings of Public Companies.
(II) The re-election of the chairman of the board of directors is a major motion affecting the operation of the company. However, for the extraordinary motions "dismissal of Chairman XX Ma" and "election of a new chairman" in the board meeting of Solar Applied Materials Technology Corporation on November 5, 2021, a "summary of directors' comments" was not recorded in the meeting minutes; this is verified to have violated the aforementioned provisions.
V. Sanction imposed: A fine of NT$240,000 is imposed on the responsible person of the company at the time of the act for the violation above in accordance with subparagraph 9, paragraph 1, Article 178 and paragraph 1, Article 179 of the Securities and Exchange Act.
Contact unit: Yi-Hsin Chang, Auditor, Corporate Finance Division, Securities and Futures Bureau
Tel: 02-2774-7409
For questions, please write to: FSCMAIL
II. Object of sanction: XX Ma, the responsible person of Solar Applied Materials Technology Corporation at the time of the act
III. Legal basis for the sanction: Subparagraph 8, paragraph 3 of Article 26, subparagraph 9, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act, and paragraph 1, Article 17 of the Regulations Governing Procedure for Board of Directors Meetings of Public Companies.
IV. Fact of violation:
(I) “A company shall formulate rules for the conduct of directors meetings; regulations governing the content of deliberations, procedures, matters to be recorded in the meeting minutes, public announcement, and other matters for compliance shall be prescribed by the Competent Authority.” and “Minutes shall be prepared of the discussions at board of directors meetings. The meeting minutes shall record the following: …… 8. Extraordinary motions: the name of the mover; the method of resolution and the result for each motion; a summary of the comments made by directors, supervisors, experts, or other persons; ..….” are respectively prescribed in subparagraph 8, paragraph 3, Article 26 of the Securities and Exchange Act and paragraph 1, Article 17 of the Regulations Governing Procedure for Board of Directors Meetings of Public Companies.
(II) The re-election of the chairman of the board of directors is a major motion affecting the operation of the company. However, for the extraordinary motions "dismissal of Chairman XX Ma" and "election of a new chairman" in the board meeting of Solar Applied Materials Technology Corporation on November 5, 2021, a "summary of directors' comments" was not recorded in the meeting minutes; this is verified to have violated the aforementioned provisions.
V. Sanction imposed: A fine of NT$240,000 is imposed on the responsible person of the company at the time of the act for the violation above in accordance with subparagraph 9, paragraph 1, Article 178 and paragraph 1, Article 179 of the Securities and Exchange Act.
Contact unit: Yi-Hsin Chang, Auditor, Corporate Finance Division, Securities and Futures Bureau
Tel: 02-2774-7409
For questions, please write to: FSCMAIL
Visitor:
9295
Update:
2022-03-23