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進入《TAIPEI TIMES》 Fines raised for Chinese funding bypassing review
Deputy Legislative Speaker Tsai Chi-chang hosts a meeting at the Legislative Yuan in Taipei yesterday. Photo: CNA
SIGNIFICANT HIKES: The amendment targets Chinese entities that invest in or enter into collaborations with firms in business or finance without getting proper authorization
By Sean Lin / Staff reporter
The Legislative Yuan yesterday passed an amendment that significantly raises the maximum fine for Chinese entities that bypass a review before investing in Taiwan.
The amendment to the Act Governing Relations Between the People of the Taiwan Area and the Mainland Area （台灣地區與大陸地區人民關係條例） targets Chinese entities that invest in or enter into technological collaborations with companies in the business or finance sectors without obtaining the permission of the Ministry of the Economic Affairs or the Financial Supervisory Commission.
Previously, the fine for such an infraction was between NT$120,000 and NT$600,000 （US$3,891 and US$19,455）.
Chinese entities that breach the rule now face a fine of between NT$50,000 and NT$25 million.
Meanwhile, the penalty for Chinese entities that do not file declarations, bypass the procedure to invest in other entities or skip a required review has been raised to between NT$300,000 and NT$2.5 million.
Chinese entities that are found guilty of a minor infraction, but who make amends within a prescribed period can be exempted from a fine, according to the amendment.
The Mainland Affairs Council in a statement said that Chinese entities that run their operations in Taiwan according to the law would not be affected by the amendment.
The council’s stance of welcoming Chinese investments remains unchanged, it said.
However, due to the disruptive effects of unauthorized Chinese investment on the nation’s commercial activities and securities markets, the council proposed the amendment to proportionately raise the fines, it said.
The ministry and the commission would set the basis for administering the fines so that they can be meted out proportionately, based on their overall effect on society and the nation, it said.
新聞來源：TAIPEI TIMES
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