The Financial Supervisory Commission promulgated Point 7 of the Notice for Privately Placed Securities by Publicly Offered Companies (hereinafter, the "Notice") as amended by way of the Jin-Guan-Zheng-Fa-1030051453 Circular of December 30, 2014 (hereinafter, the "Circular"), and the Notice came into effect on the day of its promulgation.

When amended on January 8, 2013, Point 7 of the Notice provided that "for securities privately placed by listed or OTC-traded companies and securities subsequently distributed, converted or subscribed to, public offerings shall be supplemented by reporting to the Commission after three years have elapsed since the delivery date of the privately placed securities and an approval letter issued by Taiwan Stock Exchange or GreTai Securities Market to indicate conformity with listing or OTC-trading criteria has been obtained first."

The above-mentioned old provision was moved to Paragraph 1 in Point 7 of the Notice as amended via the Circular, and Paragraph 2 was addited to stipulate: "When conducting private placement of securities and subsequently distributing, converting or subscribing to securities by listed, OTC-traded and emerging market companiesshall do so through book transfer without printing physical securities and are exempt from the certification under the Rules for the Certification of Stocks and Corporate Bonds Issued by Publicly Offered Companies."