Before issuing offshore call (put) warrants, an issuer shall first obtain accreditation as a qualified issuer of call (put) warrants from the FSC, and from the competent authority or an exchange in the place where the warrants will trade.
After obtaining accreditation as a qualified issuer of call (put) warrants from the competent authority or an exchange in the place where the warrants will trade, the issuer shall file relevant documents with the FSC for recordation.

The securities exchange where offshore call (put) warrants are issued by an issuer shall meet the following conditions:
1. It must be organized as either a securities exchange or over-the-counter market subject to regulation by the local competent authority.
2. The sovereign rating of the country where the warrants are to trade shall have a rating of a certain grade or higher from a credit rating institution recognized by the FSC.

If an issuer issues offshore call (put) warrants for which the linked underlying is a domestic security or index, the scope of the underlyings shall comply with the provisions of Article 8; if the linked underlying is a foreign security or index, the scope of the underlyings shall be handled pursuant to the requirements of the competent authority or exchange where the warrants are traded, provided that the mainland China stock price indices and securities listed on mainland China securities markets may not be included.

Where an issuance by an issuer of offshore call (put) warrants involves inward or outward remittance of funds, permission shall be obtained from the Central Bank.
When an issuer issues offshore call (put) warrants and undertakes related hedging transactions, foreign exchange settlement matters shall be carried out in accordance with the Regulations Governing the Declaration of Foreign Exchange Receipts and Disbursements or Transactions.

The total amount of offshore call (put) warrants issued by an issuer shall be the combined total of the offshore call (put) warrants and the domestic call (put) warrants that it has issued, and is governed by the applicable requirements of the TWSE or TPEx.

If an issuer issues offshore call (put) warrants for which the underlying security is a domestic security, the total amount of warrants written on a single underlying security shall be governed by the applicable requirements of the TWSE or TPEx.

After it has issued offshore call (put) warrants and filed with the FSC for recordation pursuant to Article 14, but before it has applied to the competent authority or an exchange in the place where the warrants will trade, an issuer shall file the relevant documents as required by the TWSE or TPEx.

An issuer that issues offshore call (put) warrants shall establish a special account for hedging operations, and shall handle it in compliance with the applicable requirements of the TWSE or TPEx.

If an issuer issues offshore call (put) warrants for which the linked underlying is a domestic security or index, payment at exercise shall be limited to cash settlement; if the linked underlying is an offshore security or index, payment at exercise shall comply with the requirements of the competent authority or exchange where the warrants are traded.

After an issuer has issued offshore call (put) warrants and filed with the FSC for recordation pursuant to Article 14, the FSC may suspend its issuance of offshore call (put) warrants if the TWSE or TPEx suspends its issuance of call (put) warrants.
When an issuer is suspended from issuance of offshore call (put) warrants in accordance with the provisions the preceding paragraph, it shall act in compliance with the requirements of the competent authority or exchange where the warrants are traded to suspend the issue of warrants that it has received permission to issue but has not yet issued. However, call (put) warrants already issued shall remain valid.

The format of the application for accreditation of qualification for issuance of call (put) warrants as provided under these Regulations shall be prescribed by the FSC.