Rules Governing Stock Exchanges ( Amended 2000 . 08 . 25)
證券交易所管理規則(民國89年08月25日修正)

Chapter I General Provisions
第一章總則

Article 1  These Regulations are prescribed in accordance with Article 93,Article 99, Article 102, Article 137 and Article 154 of the Securities and Exchange Law (hereinafter "the Law").
第1條 本規則依照證券交易法(以下簡稱本法)第九十三條、第九十九條、第一百零二條、第一百三十七條及第一百五十四條之規定訂定之。

Article 2  A stock exchange may be organized in the form of either membership or company. In order to establish a stock exchange, a permit shall be obtained from the Securities and Futures Commission ( hereinafter "the Commission" ) under the Ministry of Finance.
第2條 證券交易所之組織分會員制及公司制兩種，其設立應經財政部證券暨期貨管理委員會(以下簡稱本會)之許可。

Article 3  The term "associated persons" as used in these Regulations means managerial officers and the personnel who engage in the following businesses for a stock exchange:
第3條 本規則所稱業務人員，指為證券交易所從事左列業務之主管或人員：

1.the examination of application for securities to be listed;
一有價證券上市之審查。

2.the audit of finance and business of listed companies.
二有價證券上市公司財務業務之查核。

3.the transaction, monitoring, clearing, settlement and custodial service of the centralized securities exchange market;
三有價證券集中交易市場之交易、監視、結算、交割及保管。

4.the computer operation and information management of the centralized securities exchange market;
四集中交易市場電腦作業及資訊管理。

5.the audit of the finance and business of the stock exchange its members, securities brokers, and securities dealers.
五本證券交易所、會員或證券經紀商、證券自營商財務業務之查核。

6.the international affairs of the stock market;
六證券市場國際事務。

7.other operations approved by the Commission.
七其他經本會核准之業務。

Chapter II Permission or Special Approval for Establishment
第二章設立許可或特許

Section IA Membership Stock Exchange
第一節會員制證券交易所

Article 4  For the establishment of a membership stock exchange, all its members shall submit the following documents, each in three copies, to the Commission to apply for approval.
第4條 會員制證券交易所之設立，應由全體會員檢附左列文件各三份向本會申請許可：

1.the application form (as per Attachment 1);
一申請書(如附表一)。

2.the articles of association and operational bylaws;
二組織章程及業務規則。

3.the list of members;
三會員名冊。

4.the statement indicating conditions of the business premises and facilities;
四場地及設備情形說明。

5.the list of directors and supervisors and copies of their identification cards;
五董事、監事名冊及其國民身分證影本。

6.the director and supervisor registration sheet (as per Attachment 2) and a written statement declaring that none of the conditions specified in Article 53 of the Securities and Exchange Law has been violated;
六董事、監事登記表(如附表二)暨無證券交易法第五十三條規定情事之書面聲明。

7.the documents of special purpose bank savings account indicating that the amount of its membership contributions have been fully collected;
七會員出資額繳足之銀行專戶存款證明文件。

8.the first year business forecast report and the estimate report of expense and income;
八年度業務概算書及收支概算。

9.the financial and auditing reports certified by certified public accountants;
九經會計師簽證之最近財務報告及查帳報告。

10.the minutes of the establishment meeting.
一○設立會記錄。

Article 5  The articles of association as referred to in Item 2 of the preceding Article shall contain the following particulars:
第5條 前條第二款之組織章程應記載左列事項：

1.matters regarding particulars required under Article 105, Article 113, and Article 170 of the Law
一關於本法第一百零五條、第一百十三條、第一百七十條所規定之事項。

2.matters regarding the causes of dissolution.
二關於解散事由。

Article 6  The membership list as referred to in Item 3 of Article 4 shall contain the following particulars:
第6條 第四條第三款會員名冊內應記載左列事項：

1.projected number of members;
一名額。

2.names and addresses;
二名稱及地址。

3.one´s capacity and occupation concurrently engaged;
三身分及兼業。

4.the amount of membership contribution.
四出資額。

Article 7  Directors and supervisors of a membership stock exchange shall not take the office until the stock exchange receives the notice of permission from the Commission.
第7條 會員制證券交易所之董事、監事，應於證券交易所收到本會發給許可之核准通知後，始得就任。

Directors, after assumption of office, shall organize the board of directors and elect the chairman of the board in accordance with applicable laws and regulations and shall appoint managers and associated persons and report such to the Commission for approval and registration.
董事就任後，應即依法成立董事會及選任董事長，並擬任經理人及業務人員，報請本會核准登記。

Article 8  A membership stock exchange shall file with the district court for the juristic person registration within thirty days after receiving the notice of permission issued by the Commission.
第8條 會員制證券交易所收到本會發給許可之核准通知後，應於三十日內持憑核准通知向地方法院依照有關之規定，申請辦理法人登記手續。

Article 9  A membership stock exchange shall, enclosing photocopies of the juristic person registration and the payment receipt of the operation bond, file with the Commission for a permit certificate within fifteen days after completing the juristic person registration. For those who fail to file with the Commission within the deadline, the original permission shall be deemed void. The stock exchange , with legitimate reasons, may apply to the Commission for an extension.
第9條 會員制證券交易所辦妥法人登記後，應於十五日內檢附法人登記證件影本及營業保證金繳存收據影本申請本會發給許可證，逾期不為申請者，原核准失其效力，但有正當理由者，事前得向本會申請核准延展之。

Article 10  If there is any modification to the registration of a membership stock exchange, the stock exchange shall present the modification application form along with three copies of related documents to the Commission and file for modification to the registration.
第10條 會員制證券交易所之登記事項如有變更，應於變更之日起十五日內填具變更申請書連同有關文件各三份，向本會申請變更登記。

Section IIA Company Type Stock Exchange
第二節公司制證券交易所

Article 11  A company type stock exchange shall be a company limited by shares incorporated via promotion.
第11條 公司制證券交易所應為發起設立之股份有限公司。

Article 12  The minimum paid-in capital of a company type stock exchange shall be five hundred million NT dollars.
第12條 公司制證券交易所之最低實收資本額為新臺幣五億元。

Article 13  To incorporate a company type stock exchange, all its shareholders shall prepare the following documents, each in three copies, and file with the Commission for approval:
第13條 公司制證券交易所之設立，應由全體股東檢具左列文件各三份向本會申請許可：

1.the application form;
一申請書。

2.the articles of incorporation and business bylaws;
二公司章程及營業細則。

3.the list of shareholders;
三股東名冊。

4.a statement declaring the conditions of business premises and facilities;
四場地及設備情形說明。

5.the list of directors and supervisors and photocopies of their identification cards;
五董事、監察人名冊及其國民身分證影本。

6.the director and supervisor registration sheet and a written statement declaring that none of the conditions specified in Items 1 to 4 and Item 6 of Article 53 of the Law has been violated;
六董事、監察人登記表暨無本法第五十三條第一款至第四款、第六款所定情事之書面聲明。

7.the documents of special purpose bank savings account indicating that subscriptions have been fully collected;
七收足股款之銀行專戶存款證明文件。

8.the business forecast report of the first year;
八年度營業概算書。

9. the financial and audit reports certified by certified public accountants;
九經會計師簽證之最近財務報告及查帳報告。

10.the minutes of the promoters´ meeting;
一○發起人會議紀錄。

Article 14  The articles of incorporation of a company type stock exchange shall comply with the provisions of the Company Law, and shall also contain the following particulars:
第14條 公司制證券交易所之章程其內容除應符合公司法之規定外，並應記載左列事項：

1.matters regarding the provisions of Article 125, Paragraph 2 of Article 126, Article 128 and Article 170 of the Law;
一關於本法第一百二十五條、第一百二十六條第二項、第一百二十八條及第一百七十條規定之事項。

2.matters prescribed in Article 32 of these Regulations;
二本規則第三十二條所定之事項。

3.accounting matters.
三會計之事項。

Article 15  A company type stock exchange shall, after receiving the notice of approval issued by the Commission, file for incorporation registration in accordance with the Company Law.
第15條 公司制證券交易所應於收到本會發給許可之核准通知後，依公司法規定辦理公司設立登記。

Article 16  A company type stock exchange shall, enclosing a photocopy of the license and a photocopy of payment receipt of the operation bond, file with the Commission for a permit certificate within fifteen days after receiving the company license. For those who fail to file with the Commission within the deadline, the original permission shall be deemed void.
第16條 公司制證券交易所收到公司執照後，應於十五日內檢附執照影本及營業保證金繳存收據影本申請本會發給許可證，逾期不為申請者，原核准失其效力。

However, the stock exchange, with legitimate reasons, may apply to the Commission for an extension.
但有正當理由者，事前得向本會申請核准延展之。

Article 17  A company type stock exchange shall be governed mutatis mutandis by the provisions of Article 7 and Article 10 of these Regulations.
第17條 本規則第七條及第十條之規定，於公司制證券交易所準用之。

Chapter III Management and Supervision
第三章管理與監督

Section I Financial and Business Matters
第一節財務及業務

Article 18  A stock exchange, approved by the Commission and registered in accordance with applicable laws, shall deposit an operation bond with the National Treasury.
第18條 證券交易所經本會許可並依法登記後，應向國庫繳存營業保證金。

The amount of the operation bond in the preceding Paragraph shall be five percent of the total amount of membership contribution or five percent of the company´s paid-in capital.
前項營業保證金之金額為其會員出資額總額或公司實收資本額百分之五。

Article 19  A stock exchange shall, in accordance with the provision of Article 154 of the Law, lodge in the amount of fifty million NT dollars at one time as the compensation reserve and shall, within fifteen days after the end of each quarter, continue to lodge in the amount of twenty percent of the income of securities transaction charges.
第19條 證券交易所應依本法第一百五十四條規定一次提存新臺幣五千萬元作為賠償準備金；並於每季終了後十五日內，按證券交易經手費收入之百分之二十，繼續提存。　　　　　　　　　　　　　　　　　

Article 20  The compensation reserve of the preceding Article lodged by a stock exchange shall be deposited in a special account and shall not be used in a manner other than those specified below without the approval of the Commission:
第20條 證券交易所提存前條之賠償準備金，應專戶提存保管，非經本會核准，不得為左列以外之運用：　　　　　　　　　　　　　　　　　　　　　　　

1.government bond;
一政府債券。

2.bank savings or postal administration savings.
二銀行存款或郵政儲金。

Article 21  A stock exchange shall, one month before the beginning of the fiscal year, propose its business plans and budgets of the year and file with the Commission for approval. This also applies in the occasion of amendment.
第21條 證券交易所應於年度開始一個月前，擬具年度業務計劃與預算，申報本會核定，修正時亦同；

A stock exchange shall, within fifteen days after the end of each quarter, make reports with regard to the execution of business plans and budgets till said quarter and file with the Commission for recordation.
於每季結束後十五日內，編製年度業務計劃與預算截至該季之執行情形，申報本會備查。

A stock exchange shall execute the business plans and budgets of the year in accordance with those approved by the Commission, and propose a performance evaluation and assessment rule on its departments and personnel, and file with the Commission for review and recordation.
證券交易所應依本會核定之年度業務計畫與預算執行之，並就其部門及人員擬具績效評估及考核辦法，申報本會核備。

Article 22  A stock exchange shall establish a monitoring system with respect to the centralized securities exchange market, and file rules regarding the system with the Commission for approval, and execute said rules in a thorough manner.
第22條 證券交易所對集中交易市場，應建立監視制度，擬具辦法申報本會核備，並確實執行。

In order to engage in the monitoring of the market as referred to in the preceding Paragraph, the stock exchange may, when deemed necessary, investigate and review relevant materials with its members, securities brokers, securities dealers and listed companies or request them to provide explanations: Its members, securities brokers, securities dealers and listed companies shall not refuse any such investigations.
證券交易所為前項市場之監視，必要時得向其會員或證券經紀商、證券自營商、上市公司查詢及調閱有關資料或通知提出說明，其會員或證券經紀商，證券自營商、上市公司，不得拒絕。

Article 23  A stock exchange shall pay attention to the monitoring of the operations of finance and business and internal auditing for its members, securities brokers and securities dealers.
第23條 證券交易所應注意查察其會員或證券經紀商、證券自營商之財務業務及內部稽核作業情形；

In case any violation of laws or inappropriate matters is found, a stock exchange shall take proper actions immediately and notify the Commission.
發現有違反法令或不當情事者，應即為適當處置，並通知本會。

In the event that a stock exchange learns, when engaging in the monitoring described in the preceding Paragraph, that there are situations of losses caused by mismanagement or losses resulting in deterioration of credit or sudden events, or material defects in the internal auditing operations for its members, securities brokers or securities dealers, the stock exchange shall conduct a special investigation and give proper assistance.
證券交易所為前項之查察時，發現其會員或證券經紀商、證券自營商有經營不善，發生虧損信用難以維持，或遇有突發事件，或內部稽核作業有重大缺失者，應即為專案檢查，並予輔導。

A stock exchange shall conduct a special investigation in case that any of the members, securities brokers and securities dealers fail to fulfill the delivery obligation and shall guide the successor securities firm to take over its settlement affairs.
會員或證券經紀商、證券自營商不能履行交付義務時，證券交易所應即為專案檢查，並督導代辦證券商接辦其交割事務。

Handling procedures and rules of the preceding two Paragraphs shall be jointly promulgated by the stock exchange and securities dealers association and filed with the Commission for review and recordation.
前二項處理程序及辦法，由證券交易所會同證券商同業公會擬定，申報本會核備。

Article 23- 1 A stock exchange shall, at its business premises, provide the Commission for its inquiry with all papers, accounting books, lists, records, contracts and relevant examining and proving documents regarding the listing, transaction, monitoring, clearing, settlement and the auditing of the finance and business of a securities firm.
第23-1條 證券交易所應於營業處所備置所有有關有價證券上市、交易、監視、結算交割及證券商財務業務查核之憑證、單據、帳簿、表冊、紀錄、契約及相關審查及證明文件，供本會調閱查核。

Except otherwise prescribed in the Commercial Accounting Act and in relevant regulations, a stock exchange shall set out the duration for preservation of the certificates, receipts, accounting books, lists, records, contracts and relevant examining and proving documents and report to the Commission for recordation.
前項憑證、單據、帳簿、表冊、紀錄、契約及相關審查及證明文件之保存年限，除商業會計法及相關法令已有規定者外，證券交易所應訂定保存期限，並申報本會備查。

Article 24  A stock exchange shall, at designated locations, provide the public with information regarding the finance and business of each listed company, and of its members, securities brokers or securities dealers.
第24條 證券交易所應於一定處所備置各上市公司及其會員或證券經紀商、證券自營商之財務業務資料，以供公眾閱覽。

Article 25  A stock exchange shall set out custodial rules with regard to payments and securities held in custody, and file said rules with the Commission for review and recordation.
第25條 證券交易所對受寄之款項及證券，應擬具保管辦法，申報本會核備。

Article 26  A stock exchange shall, according to the regulations set by the Commission concerning the time limit and the method to be used, disclose information regarding the names, codes, volumes, prices of securities sold everyday and codes of securities dealers of both buyers and sellers.
第26條 證券交易所應將每日成交之有價證券名稱或代號、數量、價格及買賣雙方證券商代號，依本會規定之期限及方式揭示之。

Article 27  A stock exchange shall establish a stock price list on a daily basis which contains the following items and disclose such for public notice:
第27條 證券交易所應按日製作證券市價表，記載左列事項公告之：

1.names of securities sold
一成交證券之名稱。

2.the opening price, the highest price, the lowest price, the closing price; the reported price for those having reported prices but transactions not completed;
二開市、最高、最低及收市價格；其有申報價格而無成交者，記載其最後之申報價格。

3.fluctuation by comparing the closing price with that of the previous business day;
三與前一營業日收市價格比較後之漲跌情形。

4.the separate calculation and total summation of the transaction volume and transaction value;
四成交量、值之分計及合計。

5.the stock price index.
五股價指數。

Article 28  A stock exchange shall establish daily, monthly and yearly reports with regard to transactions completed in the centralized securities exchange market at the end of every day, month and year.
第28條 證券交易所應就有價證券集中交易市場內成交之買賣，於每日、每月、每年終了製作日報表、月報表及年報表。

Article 29  A stock exchange shall file with the Commission for review and recordation whenever there is amendment to its articles of incorporation or other bylaws.
第29條 證券交易所之章程或其他規章如有變更時，應即申報本會核備。

Article 30  Within two months after the end of each semi-annual business year and within four months after the end of each business year, a company type stock exchange shall report to the Commission the business reports and the financial reports which are certified by a certified public accountant, approved by the board of directors and recognized by the supervisors.
第30條 公司制證券交易所應於每半營業年度終了後二個月內及每營業年度終了後四個月內，向本會申報營業報告書及經會計師查核簽證、董事會通過、監察人承認之財務報告。

A company type stock exchange shall file with the Commission the monthly accounting report of the previous month before the tenth day of each month.
公司制證券交易所應於每月十日以前，向本會申報上月份會計科目月計表。

Article 31  Aside from preparing expense and income report in substitution for the profit and loss statement and the statement of appropriation for profits and losses, the financial reports of a membership type stock exchange shall be governed mutatis mutandis by the preceding Article.
第31條 會員制證券交易所之財務報告除以編製收支報告表替代損益表及盈虧撥補表外，準用前條之規定。

Article 32  A company type stock exchange shall set aside thirty to eighty percent of the after tax profit as the special reserve.
第32條 公司制證券交易所應於每年稅後盈餘項下，提列百分之三十至八十特別盈餘公積。

The percentage of the special reserve set aside each year as referred to in the preceding paragraph shall be designated by the Commission depending on profitability.
前項特別盈餘公積每年提列之比率，由本會視其盈餘狀況在所列幅度內指定之。

The special reserve as referred to in the first Paragraph shall not be used unless it is used to cover company losses or used as capitalization with the approval of the Commission.
第一項特別盈餘公積，除填補公司虧損或報經本會核定撥充資本外，不得使用之。

Article 32- 1 A stock exchange shall set up a handling procedure for acquiring or disposing fixed assets and file such with the Commission for approval. The same also applies to the amendment thereof.
第32-1條 證券交易所應訂定取得或處分固定資產處理程序，報經本會核定；修正時亦同。　　　　　　　　　　　　　　　　　　　

In the occasion of acquiring or disposing fixed assets, a stock exchange shall follow the handling procedure described in the preceding paragraph if the amount of each transaction exceeds fifty million NT dollars. This shall also apply to the occasion that the stock exchange engages in the transactions with the same counter-party for several times in a year and the aggregate transaction amount exceeds fifty million NT dollars.
證券交易所取得或處分固定資產，其每筆交易價額超過新臺幣五千萬元以上者，應依前項所定程序辦理；其一年內連續分次與同一相對人為買賣，累積交易金額達新臺幣五千萬元者亦同。

In case of acquiring or disposing fixed assets, a stock exchange shall report the following matters to the Commission with relevant documentation within two days after the resolution of the meeting of board of directors:
證券交易所取得、處分固定資產，應於董事會決議之日起，二日以內，就左列事項檢附相關資料申報本會並公告之：

1.the name and nature of the object;
一標的物之名稱與性質。

2.the location and area of the real estate and the appraising result conducted by a professional appraisal body;
二不動產之座落地點、面積及專業鑑價機構之鑑價結果。

3.the counter-party of the transaction; relationship to each other if the counter-party is a related one;
三交易之相對人。相對人為關係人者，其相互關係。

4.owner in the previous transfer and price of the transfer and date of registration;
四前次移轉時之所有人及其移轉之價格與登記日期。

5.the price or agreed price of this transaction;
五本次交易之對價或預定價額。

6.terms and conditions of delivery or payment;
六交付或付款之條件。

7.method of deciding this transaction(such as bidding, price comparison or price negotiation);
七本次交易之決定方式(如招標、比價或議價)。

8.the broker and the brokerages fees;
八有經紀人者，其經手之經紀人及應負擔之經紀費。

9.purpose or usage of the acquisition or disposition;
九取得或處分之目的或用途。

Article 33  A stock exchange shall report to the Commission in the event of the following matters:
第33條 證券交易所有左列情事之一者，應即申報本會核備：

1.the centralized securities exchange market has been closed for more than one business day as a result of the occurrence of sudden events of force majeure or the reopening after such events;
一集中交易市場因不可抗拒之偶發事故停止超過一個營業日之集會或回復集會。

2.the responsible person or associated person of a stock exchange, its members, securities dealers and securities brokers has been involved in litigation or has been sentenced as a result of performing duties or has become bankrupt, or becomes the debtor in a compulsory enforcement proceeding, or the checks issued by the preceding person have been bounced by banks, or the banks have refused to deal with such person or such person shall be sanctioned by removing from office in accordance with the Securities and Exchange Law;
二證券交易所、會員及證券自營商、證券經紀商之負責人或業務人員因執行職務涉訟或受訴訟上之判決或為破產人、強制執行人之債務人，或有銀行退票，拒絕往來之情事或依證券交易法應受解除職務之處分者。

3.the joining or withdrawal of members ;
三會員入會或退會。

4.the establishment, modification or termination of the contract of utilizing the centralized securities exchange market between securities dealers or brokers and the stock exchange;
四證券自營商或證券經紀商與證券交易所間，關於有價證券集中交易市場使用契約之訂立、變更、或終止。

5.the sanctions taken against members, securities dealers, and securities brokers in accordance with Article 110 or Article 133 of the Law except sanctions of expulsion and terminating the contract;
五依本法第一百一十條或一百三十三條之規定，對會員或證券自營商、證券經紀商所為除名或終止契約以外之處分。

6.the use of the settlement and clearing fund deposited by securities firms in the stock exchange;
六證券商存置於證券交易所之交割結算基金運用情形。

7.resolutions of the meeting of board of directors;
七董事會之決議。

8.cooperation agreement or memorandum signed with foreign stock exchange, self-disciplinary organization or other institution;
八與外國交易所、自律組織或其他機構簽訂合作協議或備忘錄。

9.other matters designated by the Commission as matters which shall be reported to the Commission.
九其他經本會指定應行申報核備之事項。

Article 34  In addition to handling appropriately, a stock exchange shall report the Commission the following matters:
第34條 證券交易所對左列規定情事，除應即為適當處置外，並應向本會申報備查：

1.the centralized securities exchange market temporarily ceases part of the transactions of the market or closes the market due to sudden events of force majeure;
一集中交易市場因不可抗拒之偶發事故臨時停止當市之部分交易或集會之情事。

2.malfunctions or interruptions of the transaction system and the transaction information transmission system;
二交易系統與交易資訊傳輸系統發生故障或中斷之情事。

3.members, securities brokers and securities dealers fail to settle in time or are unable to settle;
三會員或證券經紀商、證券自營商有逾時交割或交割不能之情事。

4.the confirmation and public handling status of the material information for listed companies;
四上市公司重大訊息查證及公開處理情形。

5.the monitoring and handling status of the centralized securities exchange market;
五集中交易市場監視及處理情形。

6.where there is major impact to its financial or business situation due to matters of litigation, non-litigation, administrative sanction, administrative litigation, commercial arbitration or settlement;
六因訴訟、非訟、行政處分、行政爭訟、商務仲裁或和解事件，對其財務或業務有重大影響者。

7.auditing result regarding the financial report of the securities firms and listed companies;
七證券商、上市公司財務報告之審閱結果。

8.reviewing condition of financial and business condition of members, securities brokers and securities dealers;
八會員或證券經紀商、證券自營商之財務、業務查核情形。

9.other matters designated by the Commission which shall be reported to the Commission.
九其他經本會規定應行申報備查之事項。

In the event of the occurrence of Items 1 to 3 described in the preceding Paragraph, the stock exchange shall report to the Commission before the following day of the event.
前項第一款至第三款之事項，應於事實發生之次日前向本會申報；

In the event of the occurrence of Items 4 to 6, the stock exchange shall report to the Commission within five days after the event takes place or after the handling finishes.
第四款至第六款之事項，應於知悉事實發生或處理完成後五日內，向本會申報；

And in the event of the occurrence of Items 7 and 8, the stock exchange shall report to the Commission the results of execution on a monthly basis.
第七款至第八款之事項，應將執行結果按月彙報本會。

Article 35  The business permits obtained by the stock exchange in accordance with the Law and these Regulations shall not be the object of any rights in any way.
第35條 證券交易所依本法及本規則之規定取得之業務許可，不得以任何方式作為權利之標的。

Article 36  A stock exchange may request the securities dealers association to engage in any settlement proceedings before the arbitration with regard to any dispute regarding the centralized securities transaction between members or between securities firms.
第36條 會員間或證券商間因有價證券集中交易所生之爭議，證券交易所得請證券商同業公會為仲裁前之和解。

Section II Organization and Personnel
第二節組織及人員

Article 37  A stock exchange shall set up organization bylaws with regard to the organization, projected amount of its employees and job titles and shall file with the Commission for approval. This also applies on the occasion of amendments.
第37條 證券交易所內部單位之組織、員額編制及職稱，應訂定組織規程，申報本會核定，修正時亦同。

Article 38  A stock exchange shall set up personnel management regulations with regard to the hiring, remuneration, evaluation, reward and punishment, training, retirement, severance and compensation for the employees and shall file with the Commission for approval. This also applies on the occasion of amendments.
第38條 證券交易所對人員之進用、待遇、考勤、獎懲、訓練、進修、退休、資遣、撫卹等，應訂定人事管理辦法，申報本會核定，修正時亦同。

A stock exchange shall remunerate its employees in accordance with the personnel management regulations described in the preceding paragraph and shall not provide any other remuneration.
證券交易所對人員待遇之支給，除前項人事管理辦法所訂定者外，不得另立科目支給。

Article 39  The managers of a stock exchange shall not have any conditions specified in Article 53 of the Law and shall have one of the following qualifications:
第39條 證券交易所之經理人，除不得有本法第五十三條所定各款之情事外，應具備左列資格之一：

1.with masters degree or above and once assumed the management position of a securities or financial institution or of the business department of a state-run or private-owned business, or once worked as a lecture or above in a college or above for one year or more;
一具有碩士以上學位，曾任證券、金融機構或公民營企業業務部門之主管職務或曾在國內外獨立學院以上學校任講師以上職務一年以上者。

2.graduate of a college or above and once assumed the management position in a securities or financial institution or in the business department of a state-run or private-owned business for more than three years or more;
二大專以上學校畢業，曾任證券、金融機構或公民營企業業務部門之主管職務三年以上者。

3.once assumed the management position of a securities or financial institution or in the business department of a state-run or private-owned business for five years or more.
三曾任證券、金融機構或公民營企業業務部門之主管職務五年以上者。

Managers as referred to in the first paragraph include presidents, vice presidents, assistant vice presidents and directors and deputy directors of each business department.
第一項所稱經理人，包括總經理、副總經理、協理及各業務單位之主管、副主管。

Article 40  The managerial associated persons employed by a stock exchange shall not have any conditions specified in Article 54 of the Law and shall have one of the following qualifications:
第40條 證券交易所僱用主管之業務人員，除不得有本法第五十四條所定各款之情事外，應具備左列資格之一：

1.graduate of a college or above or passed the advanced examination or the equivalent special examination, and once assumed the position in the business department of a securities or financial institution or in the financial or stock affairs department of a listed company for three years or more;
一大專以上學校畢業或高等考試或相當於高等考試以上之特種考試及格，曾任證券、金融機構之業務部門或上市證券發行公司財務、股務部門職務三年以上者。

2.once assumed the position in the business department of a securities or financial institution or in the financial or stock affairs department of a listed company for five years or more;
二曾任證券、金融機構之業務部門或上市證券發行公司財務、股務部門職務五年以上者。

3.qualified as a securities investment analyst;
三具有證券投資分析人員資格者。

4.once registered as a senior associated person of a securities firm or received the certificate of passing the test for the senior associated person of a securities firm issued by the Commission;
四曾登記為證券商高級業務員，或已取得本會核發之證券商高級業務員測驗合格證書者。

5.passed the test for the senior associated person of a securities firm held by the ROC Securities and Futures Institute(hereinafter "SFI") which is mandated by the ROC Securities Dealers Association ( hereinafter "SDA" )
五經中華民國證券商業同業公會(以下簡稱全國證券商公會)委託財團法人中華民國證券暨期貨市場發展基金會(以下簡稱證基會)舉辦之證券商高級業務員測驗合格者。

Article 41  The non-managerial associated persons shall not have any conditions specified in Article 54 of the Law and shall have one of the following qualifications:
第41條 證券交易所僱用非主管之業務人員，除不得有本法第五十四條所定各款之情事外，應具備左列資格之一：

1.graduate of college or above;
一大專以上學校畢業者。

2.certified with the ordinary examination or the special examination equivalent to the ordinary examination or above;
二普通考試或相當於普通考試以上之特種考試及格者。

3.once assumed the position in the business department of a securities or financial institution or in the financial or stock affairs department of a listed company for more years or more;
三曾任證券、金融機構之業務部門或上市證券發行公司財務、股務部門職務三年以上者。

4.once registered as an associated person of a securities firm or received the certificate of passing the test for the associated person of a securities firm issued by the Commission;
四曾登記為證券商業務員，或已取得本會核發之證券商業務員測驗合格證書者。

5.passed the test for the associated person of a securities firm held by SFI which is mandated by SDA.
五經全國證券商公會委託證基會舉辦之證券商業務員測驗合格者。

Article 42  The assistant associated persons shall not have any conditions specified in Article 54 of the Law and shall have one of the following qualifications:
第42條 證券交易所僱用助理業務人員，除不得有本法第五十四條所定各款之情事外，應具備左列資格之一：

1.graduate of high school or above;
一高中或高職以上學校畢業者。

2.passed the special examination which is lower than the ordinary examination.
二低於普通考試之特種考試及格者。

Article 43  A stock exchange shall report to the Commission for review and recordation within five days after the change of the directors, supervisors and managers of the stock exchange.
第43條 證券交易所董事、監事、監察人及經理人異動，該證券交易所應於異動後五日內，申報本會核備。

Article 44  A stock exchange shall prepare a list regarding the change of the associated persons and report to the Commission on a monthly basis.
第44條 證券交易所業務人員異動，該證券交易所應按月列冊彙報本會備查。

Article 45  The managers and associated persons of a stock exchange shall not in any way assume any part-time post or honorary post of a listed company or a securities firm.
第45條 證券交易所之經理人及業務人員不得以任何方式擔任有價證券上市公司、證券商之任何兼職或名譽職位。

Article 45- 1 In the event that the managers and associated persons of a stock exchange are delinquent or fail to perform their duties thoroughly, the stock exchange employing them shall have them discharged or sanctioned appropriately.
第45-1條 證券交易所之經理人及業務人員就應執行之業務事項有怠於執行或未確實執行者，所屬證券交易所應予以解聘、解僱或為適當之處分。

Article 46  Managers and associated persons shall not engage in the following conducts:
第46條 證券交易所之經理人及業務人員，不得有左列行為：

1.directly or indirectly engaging in buying and selling listed securities with the information learned from their performance of duty;
一以職務上所知悉之消息，直接或間接從事上市有價證券買賣之交易活動。

2.in response to an inquiry not made pursuant to the laws and regulations, and revealing confidential information learned from their performance of duty;
二非應依法令所為之查詢，洩漏職務上所獲悉之秘密。

3.being a creditor or debtor in a monetary or securities loan with business related persons;
三與業務有關人員有款項、有價證券之借貸情事。

4.demanding, agreeing to accept or accepting improper benefits for an official act or for a breach of one´s official duties;
四對於職務上或違背職務之行為，要求期約或收受不正當利益。

5.not withdrawing in the event that the performance of duty involves conflict of interest;
五執行職務涉及本身利害關係時未行迴避。

6.when engaging in the listing, transaction, settlement, clearing or custody of securities, there being any fraud, deception or any misleading conducts;
六辦理有價證券上市、交易、結算、交割或保管時，有虛偽、詐欺或其他足致他人誤信之行為。

7.any other conduct which is against the securities laws and regulations or the rules of the Commission;
七其他違反證券管理法令或本會規定應為或不得為之情事。

The directors, supervisors, members of each committee or persons of the equivalent level of a stock exchange shall not engage in the conducts as referred to in Items one to five and Item seven of the preceding paragraph.
證券交易所之董事、監事、監察人、各委員會委員或其他地位相等之人不得有前項第一款至第五款及第七款之行為。

Article 47  When engaging in the business activity in the business premises of a stock exchange or in the centralized securities exchange market, the associated person of a stock exchange shall wear the regulated uniform and shall be wearing the identification card issued by the stock exchange.
第47條 證券交易所之業務人員，於證券交易所營業處所或集中交易市場執行營業行為時，應穿著規定服裝，並佩帶證券交易所所核發之識別證；

Only registered stock exchange associated persons may engage in the business as referred to in Article 3.
非經登記之證券交易所業務人員，不得執行第三條所定之業務。

Chapter IV Supplementary Provisions
第四章附則

Article 48  In addition that a stock exchange or the directors, supervisors members of each committee, or persons of the equivalent level and managers and associated persons of a stock exchange who have violated these Regulations shall be punished in accordance with the Law, the Commission may additionally sanction or may otherwise notify the stock exchange to punish such persons if the violation is sufficient to interfere with the normal operation of business, and such violation is of a serious nature.
第48條 證券交易所或證券交易所之董事、監事、監察人、各委員會委員或其他地位相等之人、經理人及業務人員，違反本規則之規定者，除依本法之規定處罰外，如其情形足以影響業務之正常執行及情節嚴重時，本會得另為處分或通知該證券交易所對違反之人員另為懲處。

Article 49  These Regulations shall come into effect as of the date of promulgation.
第49條 本規則自發布日施行。