June 2019
The Statute for Relations Between the People of the Taiwan Area and the Mainland Area cleared through three legislative readings with an increased ceiling of penalty for unauthorized investment in Taiwan by mainland China investors (Taiwan)
2019.4.9
Fang-Wei Lin
The Legislative Yuan adopted Article 93-1 of the Statute for Relations Between the People of the Taiwan Area and the Mainland Area (hereinafter, the "Statute") by three readings during the 8th Meeting of the 7th Session of the 9th Term of the Legislative Yuan on April 9, 2019.
In order to deal with mainland China investors whose illegal investment in Taiwan undermines the normal operations of commerce and the order of the stock market in Taiwan, article 93-1 of the Statute is amended to increase the ceiling of penalty from NT$600,000 to NT$25,000,000 for unauthorized investment in Taiwan by mainland China investors in violation of Article 73 of the same law .
The ceiling of penalty for other violations is also increased to NT$2,500,000. In addition, with respect to minor illegal violations involving investment in Taiwan by mainland China investors, new provisions provide that the competent authority may first set a time limit for rectification, and that if rectification is made, the penalty may be exempt.
Fang-Wei Lin
The Legislative Yuan adopted Article 93-1 of the Statute for Relations Between the People of the Taiwan Area and the Mainland Area (hereinafter, the "Statute") by three readings during the 8th Meeting of the 7th Session of the 9th Term of the Legislative Yuan on April 9, 2019.
In order to deal with mainland China investors whose illegal investment in Taiwan undermines the normal operations of commerce and the order of the stock market in Taiwan, article 93-1 of the Statute is amended to increase the ceiling of penalty from NT$600,000 to NT$25,000,000 for unauthorized investment in Taiwan by mainland China investors in violation of Article 73 of the same law .
The ceiling of penalty for other violations is also increased to NT$2,500,000. In addition, with respect to minor illegal violations involving investment in Taiwan by mainland China investors, new provisions provide that the competent authority may first set a time limit for rectification, and that if rectification is made, the penalty may be exempt.
