Fine on the Person Responsible for the Act of Sunmax Biotechnology Co., Ltd.
2022-08-16
I. Date of sanction: August 16, 2022
II. Object of sanction: XX Lin, the person responsible for the act of Sunmax Biotechnology Co., Ltd. (Sunmax).
III. Legal basis for the sanction: Paragraph 6, Article 14-2, subparagraph 2, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
IV. Fact of violation: XX Lin, the independent director of the Sunmax, resigned on July 19, 2021, resulting in an insufficient number of independent directors as stipulated in the articles of association. In accordance with paragraph 6, Article 14-2 of the Securities and Exchange Act, a by-election should have been held at the latest general shareholders’ meeting. However, the company failed to elect an independent director at the latest general shareholders’ meeting (on June 20, 2022); this is verified to have violated the regulations above.
V. Sanction imposed: A fine of NT$240,000 is imposed on the responsible person of the company in accordance with subparagraph 2, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
Contact unit: Section Chief Pei, Corporate Finance Division, Securities and Futures Bureau
Tel: (02) 2774-7342
For questions, please write to:FSCmail
II. Object of sanction: XX Lin, the person responsible for the act of Sunmax Biotechnology Co., Ltd. (Sunmax).
III. Legal basis for the sanction: Paragraph 6, Article 14-2, subparagraph 2, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
IV. Fact of violation: XX Lin, the independent director of the Sunmax, resigned on July 19, 2021, resulting in an insufficient number of independent directors as stipulated in the articles of association. In accordance with paragraph 6, Article 14-2 of the Securities and Exchange Act, a by-election should have been held at the latest general shareholders’ meeting. However, the company failed to elect an independent director at the latest general shareholders’ meeting (on June 20, 2022); this is verified to have violated the regulations above.
V. Sanction imposed: A fine of NT$240,000 is imposed on the responsible person of the company in accordance with subparagraph 2, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
Contact unit: Section Chief Pei, Corporate Finance Division, Securities and Futures Bureau
Tel: (02) 2774-7342
For questions, please write to:FSCmail
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Update：
2022-08-19