October 31, 2017

The FSC explained about the streamlined investment procedure and matters that shall be noted with respect to commissioning transactions to overseas investment trust enterprises by domestic investment trust enterprises(Taiwan)

2017.8.21 Sophia Tsai The Financial Supervisory Commission (hereinafter, the “FSC”) issued the Jin-Guan-Zheng-Tou-1060033837 Circular of August 21, 2017 (hereinafter, the “Circular”) to provide relevant explanation and communicate matters that shall be noted with respect to streamlined investment procedures under which […]
October 31, 2017

The FSC amended the Regulations Governing Public Tender Offers for Real Estate Investment Trust Beneficiary Securities(Taiwan)

2017.8.11 Jenny Chen The Financial Supervisory Commission (hereinafter, the “FSC”) promulgated Articles 8, 10, 14, 15, 19, 20, 22, 24, 29 through 33 as amended and Article 38-1 as added of Regulations Governing Public Tender Offers for Real Estate Investment […]
October 31, 2017

For an offense of operating banking business illegally, an investor shall not bring civil suit collateral to criminal proceedings against the actor(Taiwan)

2017.7.26 Frank Sun The Kaohsiung branch of the Taiwan High Court rendered the 105-Yuan-Fu-Min-Shang-1 Decision on Civil Suit Collateral to Criminal Proceedings on July 26, 2017 (hereinafter, the “Decision”), holding that for an offense of operating banking business illegally, an […]
October 31, 2017

In addition to a civil servant’s clear awareness of pursuing any illicit gain for himself/herself or for others, an offense of illicit enrichment committed by a civil servant also requires that the recipient of the civil servant’s enrichment is profited as a result (Taiwan)

2017.7.28 Emily Chueh The Supreme Court rendered the 106-Tai-Shang-197 Civil Decision of July 28, 2017 (hereinafter, the “Decision”), holding that in addition to a civil servant’s clear awareness of pursuing any illicit gain for a civil servant himself/herself or for […]
October 31, 2017

Beginning with 2018, the minimum hourly wage will be NT$140 and the minimum monthly wage will be NT$22,000 (Taiwan)

2017.9.6 Debby Yu Article 21, Paragraph 1 of the Labor Standards Law provides: “The wages shall be negotiated between the employer and employer, provided that they shall not fall below the minimum wage.” This provision seeks to protect the minimum […]
October 31, 2017

The Ministry of Labor formulated the Common Principles for Penalties Against Violations of the Labor Standards Law(Taiwan)

2017.8.22 Melanie Lo The Ministry of Labor prescribed the Common Principles for Penalties Against Violations of the Labor Standards Law (hereinafter, the “Principles”), which consists of six points, via the MOL-Lao-Dong-One-1060131704 Circular of August 22, 2017. The Principles came into […]
October 31, 2017

Participation in a tender by borrowing the name or certificate of another supplier to achieve the minimum statutory number of bidders so as to win the tender still constitutes illegal tender participation in the name of another supplier(Taiwan)

2017.6.22 Luke Hung The Supreme Administrative Court rendered the 106-Pan-331 Decision of June 22, 2017 (hereinafter, the “Decision”), holding that participation in a tender by borrowing the name or certificate of another supplier to achieve the minimum statutory number of […]
October 31, 2017

With respect to an act of expropriation conducted a long time ago, it is not appropriate to apply an excessively stringent determination standard to the substantiation by the expropriation agency to prove the legality of relevant expropriation procedures in order to prevent public interest from being impaired by an excessive determination that renders an expropriation invalid or ineffective(Taiwan)

2017.7.13 Teresa Huang The Supreme Administrative Court rendered the 106-Pan-358 Decision of July 13, 2017 (hereinafter, the “Decision”), holding that it is not appropriate to apply an excessively stringent determination standard to the substantiation by the expropriation agency to prove […]
October 31, 2017

A lawyer who handles trademark-related business is only required to join any bar association within the jurisdiction of the IPO in order to perform his/her duty before the IPO(Taiwan)

2017.8.21 Jane Tsai The Ministry of Justice issued the Fa-Jian-10600124710 Circular of August 21, 2017 (hereinafter, the “Circular”) to communicate that lawyer who handles trademark-related business is only required to join any bar association within the jurisdiction of the Intellectual […]
October 31, 2017

Communication involving a food operator’s use of media such as television, radio broadcast and films to conduct promotions containing specifics about its food products to familiarize a multitude of people with the contents of such promotions is deemed advertising (Taiwan)

2017.7.27 Oli Wong The Supreme Administrative Court rendered the 106-Pan-387 Decision of July 27, 2017 (hereinafter, the “Decision”), holding that communication involving a food operator’s use of media such as television, radio broadcast and films to conduct promotions containing specifics […]
October 31, 2017

Amendments to the Administrative Rules for Electronic Payment Institutions and Business(Taiwan)

2017.8.18 Yi-Shan Cheng The Financial Supervisory Commission promulgated Articles 2, 7, 9, 12, 24 and 27 as amended and Article 20-1 as added of the Administrative Rules for Electronic Payment Institutions and Business (hereinafter, the “Rules”) via the Jin-Guan-Yin-Piao-10640003250 Directive […]
October 31, 2017

Constraining resale prices of downstream distributors without justification is an illegal unfair competitive act (Taiwan)

2017.8.2 Sean Liu The Taipei High Administrative Court rendered the 106-Su-336 Decision of August 2, 2017 (hereinafter, the “Decision”), holding that constraining resale prices of downstream distributors without justification is an illegal act of unfair competition. According to the facts […]
October 31, 2017

If the complete supporting documentation under Article 192-1, Paragraph 4 of the Company Law for a director candidate nominated by shareholders is not attached, the board of directors may exclude such nominee from the list of candidates without sending a correction notice after verifying such circumstance (Taiwan)

2017.6.30 Grace Chiang The Taiwan High Court rendered the 106-Shang-254 Civil Decision of June 30, 2017 (hereinafter, the “Decision”), holding that if the complete supporting documentation under Article 192-1, Paragraph 4 of the Company Law for a director candidate nominated […]
October 31, 2017

Overview of the “Inspector Appointed upon Application by Minority Shareholders System” under Article 245 of the Company Act (Taiwan)

2017.10.2 Grace Chiang Under the structure of corporate governance where the management right is separated from the ownership, most shareholders do not directly participate in the operation and management of the company, and the company’s operating information such as finance […]
September 30, 2017

To accommodate amendments to tourist laws and regulations, the Ministry of Transportation supplemented and amended the Penal Standards for the Statute for the Development of Tourism (Taiwan)

2017.7.13 Oli Wong The Ministry of Transportation amended and promulgated the Penal Standards for the Statute for the Development of Tourism (hereinafter, the “Standards”) via the MOTC-JIAO-Lu-(1)-10682004255 Directive of July 13, 2017. Therefore, relevant tourist laws and regulations were amended […]
September 30, 2017

FSC relaxed the conditions for allowing a futures commission merchant to be retained to engage in foreign futures transactions(Taiwan)

2017.7.27 Sophia Tsai The Financial Supervisory Commission (hereinafter, the “FSC”) issued the Jin-Guan-Zheng-Qi-1060023566 Directive of July 27, 2017 (hereinafter, the “Directive”) to relax the conditions for allowing a futures commission merchant to be retained to engage in foreign futures transactions. […]
September 30, 2017

When operating six specific types of business (e.g., tendering services), a property insurance enterprise may replace the affixation of the signatures and seals of the applicant and the insured to an insurance application document with relevant evidence sufficient to prove the applicant‘s willingness to obtain the insurance(Taiwan)

2017.7.28 Grace Chiang The Financial Supervisory Commission rendered the Jin-Guan-Bao-Chan-10602524241 Circular of July 28, 2017 (hereinafter, the “Circular”) to interpret that when operating six specific types of business specified by the Circular, a property insurance enterprise may replace the affixation […]
September 30, 2017

The Financial Supervisory Commission amended rules concerning the re-election nomination and participation of independent directors in board meetings and the audio or video recording of audit committee meetings(Taiwan)

2017.7.28 Teresa Huang The Financial Supervisory Commission amended part of the provisions of the Regulations Governing Exercise of Authority by the Audit Committee of Publicly Offered Companies, the Regulations Governing the Procedure for Board of Directors Meeting of Publicly Offered […]
September 30, 2017

Circular of the Supreme People’s Court Concerning Opinions on Providing Judicial Safeguards to Improve the Business Environment(Mainland China)

2017.8.7 Yenchu Chen On August 7, 2017, the Supreme People’s Court issued a circular concerning its Opinions on Providing Judicial Safeguards to Improve the Business Environment (the “Opinions”) to all court levels. According to the explanation in the Opinions, this […]
September 30, 2017

Regulation on the Supervision and Administration of Financing Guarantee Companies(Mainland China)

2017.8.2 Yenchu Chen Financing guarantee is a critical element of a financial inclusion regime. The financing guarantee industry plays a major role in developing finance inclusion and promoting capital financing, particularly in resolving financing difficulties encountered by micro-enterprises and agriculture, […]
September 30, 2017

Opinions on Further Guidance and Regulation of the Direction of Outbound Investment(Mainland China)

2017.8.4 Yenchu Chen On August 4, 2017, the General Office of the State Council forwarded the Opinions on Further Guidance and Regulation of the Direction of Outbound Investment (the “Opinions”) of the National Development and Reform Commission, the People’s Bank […]
September 30, 2017

Circular on Specific Measures for Promoting Foreign Investment Growth(Mainland China)

2017.8.8 Yenchu Chen Recently, the State Council issued the Circular on Specific Measures for Promoting Foreign Investment Growth (the “Circular”) to deepen the structural reform on the supply side, streamline administration, delegate powers and optimize services to further enhance the […]
September 30, 2017

Judicial Interpretation No. 752 pointed out that the legal requirement that if the original not-guilty decision is reversed with a guilty decision rendered in the second instance criminal trial, the accused shall not appeal to the third instance court shall be unconstitutional and invalid, and cases which have not become final may be appealed(Taiwan)

2017.7.28 Jenny Chen The Judicial Yuan rendered Judicial Interpretation No. 752 of July 28, 2017 (hereinafter, the “Interpretation”), holding that the legal requirement that if the original not-guilty decision is reversed with a guilty decision rendered in the second instance […]
September 30, 2017

When a party denies that an unfavorable statement outside of the trial was given arbitrarily, if the entire process was not audio recorded without interruption or if the audio recording was muted or covered or if the recording process was interrupted, such testimony is hardly admissible evidence (Taiwan)

2017.5.23 Angela Wu The Taiwan High Court rendered the 106-Zai-6 Criminal Decision of May 23, 2017 (hereinafter, the “Decision”), holding that when a party denies that an unfavorable statement outside of the trial was given arbitrarily, if the entire process […]
September 30, 2017

After a husband and wife have divorced, if it is agreed that one of them will hold the parental right over their minor children, the party who holds the parental right may independently entrust another person in writing to perform the function of a guardian (Taiwan)

2017.7.18 Frank Sun The Ministry of Justice issued the Fa-Lu-10603509010 Circular of July 18, 2017 (hereinafter, the “Circular”) to communicate that after a husband and wife have divorced, if it is agreed that one of them will hold the parental […]
September 30, 2017

Relevant requirements concerning the application of tax incentives under Article 39, Paragraph 1 of the Enterprise Mergers and Acquisitions Law as well as controlled matters under Paragraph 2 of the same article to the division of a company pursuant to the same law(Taiwan)

2017.7.28 Yi-Shan Cheng The Ministry of Finance rendered the Tai-Tsai-Shui-10600029170 Directive of July 28, 2017 (hereinafter, the “Directive”) to communicate relevant requirements concerning the application of tax incentives under Article 39, Paragraph 1 of the Enterprise Mergers and Acquisitions Law […]
September 30, 2017

Beginning with next year, unregistered cram schools or those in a company format are required to pay business taxes, but registered cram schools under personal applications are still exempt from such taxes(Taiwan)

2017.7.26 Yi-Shan Cheng The Ministry of Finance issued the Tai-Cai-Shui-10600596370 Circular of July 26, 2017 (hereinafter, the “Circular”), which will go into effect on January 1, 2018, to abolish relevant interpretation circulars concerning the exemption of business taxes on cram […]
September 30, 2017

Since wages converted from untaken special leave upon termination of the contract are income after the termination of the contract, it is permissible not to include them in the calculation of the average wage(Taiwan)

2017.7.12 Melanie Lo The Ministry of Labor issued the Lao-Dong-2-1060131476 Circular of July 12, 2017 (hereinafter, the “Circular”) to communicate that since wages converted from untaken special leave upon termination of the contract are income after the termination of the […]
September 30, 2017

The Ministry of Labor requires that when a worker is requested to work on a rest day under Article 36 of the Labor Standards Act, if the work is discontinued due to a natural disaster, the wage for that day shall still be paid pursuant to the provision concerning overtime pay for rest days(Taiwan)

2017.7.28 Debby Yu The Ministry of Labor issued the Lao-Dong-Tiao-2-1060131624 Circular of July 28, 2017 (hereinafter, the “Circular”) to explain about the calculation of wages and work hours for a worker agreeing to work on a rest day under Article […]
September 30, 2017

If a land improvement owner objects to the amount of compensation or refuses the demolition while medication is conducted by the competent authority after mediation by a land reconsolidation association fails, this does not change the nature of this matter as a private right dispute(Taiwan)

2017.6.21 Luke Hung The Supreme Court rendered the 106-Tai-Shang-182 Civil Decision of June 21, 2017 (hereinafter, the “Decision”), holding that if a land improvement owner objects to the amount of compensation or refuses the demolition while medication is conducted by […]