《TAIPEI TIMES 焦點》 Surrendered KMT firms will not be state-run: Cabinet
By Lo Tien-bin / Staff reporter
Central Investment Co (中央投資公司) and its spinoff Hsinyutai Co (欣裕台) — two holding companies that the Ill-gotten Party Assets Settlement Committee last month identified as affiliates of the Chinese Nationalist Party (KMT) — would not be run as state-run firms after the KMT hands them over to the government, the Executive Yuan said yesterday.
The Cabinet held a meeting to discuss the settlement of the KMT’s ill-gotten party assets and concluded that the two companies do not conform to regulations stipulated in the Administrative Act of State-owned Enterprises (國營事業管理法).
After the government takes over the two firms, their employees would be covered by the Labor Standards Act (勞動基準法) rather than regulations for civil servants, Executive Yuan spokesman Hsu Kuo-yung (徐國勇) said.
Whether to fire the firms’ employees would be relegated to a special team in charge of the handover, which is to be assembled by Premier Lin Chuan (林全), Hsu said.
The team would be tasked with deciding whether the firms would be allowed to continue operations or be auctioned off, he added.
The Executive Yuan decided to form the team after a briefing by the committee, which last month passed a resolution ordering the KMT to turn over the two firms to the government, Hsu said, adding that yesterday’s meeting was called to review statutes concerning the handover and measures to protect employees’ rights.
At the meeting, officials reaffirmed that both companies were wholly owned by the KMT and were founded using illegally acquired assets, necessitating their seizure by the government, he said.
If the companies are found to not have issued any shares, they are to be registered as state-owned on Dec. 30 — 30 days after a letter of disposition was delivered to the KMT — and all their directors and supervisors are to be dismissed, Hsu said, adding that if the companies issued shares, the KMT would be required to transfer them to the government, or they would be confiscated in accordance with the Compulsory Execution Act (強制執行法) and nullified.
The companies clearly do not fit the definition of a state-run enterprise, which are founded to increase the government’s capital to boost economic development and improve the public’s quality of living, he said, adding that after the handover is completed, the two companies are to be provisionally overseen by the Ministry of Finance’s National Property Administration.
新聞來源:TAIPEI TIMES