| Summary: | 碩士 === 國立中正大學 === 法律學研究所 === 99 === According to Taiwan Stock Exchange Corporation(TWSE) Rules, Article 11, Taiwan Stock Exchange Corporation refers to a public owned facilities where stockholders transact their valuable securities. However, the attribute of the facilities is still controversial. The same article stated that the authority of TWSE is Financial Supervisory Commission, the Executive Yuan. In real practice, due to the shortage of the manpower and the shortage of rexsources, the Financial Supervisory Commission authorizes certain administrations such as the supervisory of the participating security dealers to TWSE to operate.
Secondly, the operation of the security sealers is based on the Contract for Use of the Centralized Securities Exchange Market, which is one-sided made by the TWSE. Therefore, this action has left the market participants scuh as the security dealers and the listed companies no negociatable position towards the content of the contract Because the TWSE is in a capitalized Corporation in Taiwan, if the security dealers decline the contract, this action has prevent the participation of the stock actitivies. The participation of the market has to be based on the contract signing. The contract content is made without the authority supervision. And the contract content is subjected to be modified by the TWSE. As a result, when the rights of the security deals is jeopardized, there’s no support system for them.
This research focused on exploring the drawbacks of the practice and provided suggestions accordingly. The drawbacks include the blurred legal status of the TWSE such as its attributes. In the hope that the blurred status can be defined clearly so that the legal right of the participants can be protected.
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