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Important Measures

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Important Measure June 2023

2023-08-11

1. Draft Amendment Adding New Articles 174-3 and 174-4 to the Securities and Exchange Act Passed by Legislative Yuan on the Third Reading on 30 May 2023 and Promulgated by Presidential Order on 28 June 2023
On 30 May 2023, the Legislative Yuan passed on the third reading a draft bill submitted by the Executive Yuan introducing new articles 174-3 and 174-4 to Taiwan's Securities and Exchange Act. This amendment was promulgated by presidential order on 28 June 2023. Key points expressly provided in the amendment are as follows:
(1)  Any person who endangers, through the employment of theft, damage, or other illegal means, the normal operation of equipment functions of a core information and communication system of the Taiwan Stock Exchange, the Taipei Exchange, or the Taiwan Depository and Clearing Corporation shall be sentenced to imprisonment for not less than 1 year and not more than 7 years, and additionally may be imposed a criminal fine of not more than NT$10 million. Heavier sentences shall be imposed when such an offense is committed with intent to endanger national security or social stability, or such offense harms the stability of the securities market. Any attempted offense is also punishable. (Amendment Article 174-3)
(2)  Any person who endangers the normal operation of equipment functions of a core information and communication system of the Taiwan Stock Exchange, the Taipei Exchange, or the Taiwan Depository and Clearing Corporation by means of virtual infringement shall be sentenced to imprisonment for not less than 1 year and not more than 7 years, and additionally may be imposed a criminal fine of not more than NT$10 million. Heavier sentences shall be imposed when such an offense is committed with intent to endanger national security or social stability, or such offense harms the stability of the securities market. Any attempted offense is also punishable. (Amendment Article 174-4)

2. Draft Amendment Adding New Articles 112-1 and 112-2 to the Futures Trading Act Passed by Legislative Yuan on Third Reading on 30 May 2023 and Promulgated by Presidential Order on 28 June 2023
On 30 May 2023, the Legislative Yuan passed on the third reading a draft bill submitted by the Executive Yuan introducing new articles 112-1 and 112-2 to Taiwan's Futures Trading Act. This amendment was promulgated by presidential order on 28 June 2023. Key points expressly provided in the amendment are as follows:
(1)  Any person who endangers, through the employment of theft, damage, or other illegal means, the normal operation of equipment functions of a core information and communication system of the Taiwan Futures Exchange or a futures clearing house shall be sentenced to imprisonment for not less than 1 year and not more than 7 years, and additionally may be imposed a criminal fine of not more than NT$10 million. Heavier sentences shall be imposed if such an offense is committed with intent to endanger national security or social stability, or such offense seriously affects the futures market order. Any attempted offense is also punishable. (Amendment Article 112-1)
(2)  Any person who endangers the normal operation of equipment functions of a core information and communication system of the Taiwan Futures Exchange or a futures clearing house by means of virtual infringement shall be sentenced to imprisonment for not less than 1 year and not more than 7 years, and additionally may be imposed a criminal fine of not more than NT$10 million. Heavier sentences shall be imposed when such an offense is committed with intent to endanger national security or social stability, or such offense seriously affects the futures market order. Any attempted offense is also punishable. (Amendment Article 112-2)
 
Visitor: 682   Update: 2023-10-12
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