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Administrative Sanction

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Fine Imposition on the Person Responsible for the Act of Tai Twun Enterprise Co., Ltd.


1. Date of sanction: July 14, 2023  
2. Object of sanction: XX Lin, the person responsible for the act of Tai Twun Enterprise Co., Ltd.
3. Legal basis for the sanction: Paragraph 1, Article 36, sub-paragraph 11, paragraph 1, Article 178, and Article 179 of the Securities and Exchange Act, and paragraph 1, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
4. Fact of violation: On August 2, 2022, Tai Twun Enterprise Co., Ltd. (hereinafter referred to as “Tai Twun Enterprise”) obtained USD 6 million (approximately NT$170 million) of the Spectra SPC Powerfund by board resolution. The transaction amount reached 20% of the paid-in capital, but Tai Twun Enterprise did not obtain a CPA’s opinion before the resolution, nor comply with its internal control system requirements in accordance with paragraph 1, Article 5 and paragraph 2, Article 11 of its Procedures for Acquisition or Disposal of Assets at the time of the act, and therefore violated paragraph 1, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
5. Sanction imposed: A fine of NT$240,000 is imposed on the responsible person of the company in accordance with sub-paragraph 11, paragraph 1, Article 178, and Article 179 of the Securities and Exchange Act.


 
Visitor: 788   Update: 2023-08-17
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