On June 30, 2000, the revision to Article 8 of the Securities and Exchange Act has passed its third reading in the Legislative Yuan. Revised law had permitted the issuing and book entry of dematerialized securities. On November 12, 2001, two new articles — Articles 162-2 and 257-2 — were added to the Company Act, clearly stipulating that dematerialized securities must be registered with the particular agency responsible for centralized securities custody.
In response to these changes, TDCC (was TSCD) began planning the necessary adjustments to the central deposit account structure, in which the issuers could be included as participants, and also began developing registration and book-entry operations for dematerialized securities, which commenced on December 20, 2001. A solid foundation was therefore to be established for securities dematerialization in Taiwan.
(Chinese version only)