Cabinet approves draft revisions to Company Act

Partial amendments to the Company Act, drafted by the Ministry of Economic Affairs (MOEA), were passed at today’s Cabinet meeting. The draft will now go to the Legislative Yuan for review.

Premier Lai Ching-te said that this round of revisions to the Company Act is aimed primarily at such changes as creating a friendly environment for innovation and entrepreneurship, improving corporate governance, advancing the rights and interests of shareholders, complying with international anti-money laundering regulations, and boosting enterprises’ operational flexibility, management efficiency and digitalization efforts. The MOEA was instructed to make passage a priority and take the initiative to follow up and establish a working rapport with ruling and opposition party caucuses once the draft amendments are introduced into the Legislative Yuan, in order that the amendment process can be completed as quickly as possible.