Laws Information

Title: Statute of Privatization of Government-Owned Enterprises
Am Date: 2003-01-15
Legislative History: The Amendments were promulgated on January 15, 2003 as per the President’s order No. Hwa-Tsong-1-Yi-Tse 0920006900



Article 14
Where the shareholdings of an enterprise held by the government does not exceed fifty per cent (50%), the provisions of Article 6, Article 7, the preceding Article and Article 15 shall be applicable, mutatis mutandis, to the transfer of such government-held shares.

Article 15
The funds obtained by the government from privatizing a government-owned enterprise shall be handed over to the National Treasury as a financial resource for capital expenditures, except that part of the funds may first be appropriated for a special fund.
The regulations governing appropriation and use of the aforesaid special fund shall be prescribed by the Executive Yuan. The uses of the special fund as set forth in the preceding Paragraph shall be as follows:
1. To pay the additional six-month salary and the compensation for various losses provided in Paragraph 6 of Article 8 and the fees and expenses borne by the government for privatization.
2. To finance the shortage caused by the payments made by such government-owned enterprise for privatization.
3. To finance the shortage caused by the payments to a government-owned enterprise’s employees laid off as a result of any special project prior to privatization and/or in connection with the winding-up of the government-owned enterprise.
4. To finance the government’s capital plan expenditure.
The provisions of Paragraph 1, Article 25, Paragraph 1, Article 86 and Article 89 of the Budget Law shall not apply to the funds paid and appropriated for the special fund under Paragraph 1 of this Article.