Legislators fail to agree on 22 drafts to Company Act

Taipei Times
Date: Jun 30, 2018
By: Sean Lin  /  Staff reporter

Lawmakers yesterday agreed to advance a slew of proposed adjustments to the

Staff test microphones, speakers and other equipment in the legislative chamber at the Legislative Yuan in Taipei yesterday before legislators were due to vote on a draft amendment to the Company Act.  Photo: George Tsorng, Taipei Times

Company Act (公司法) to a second reading, but failed to reach a consensus on 22 disputed draft amendments.

One of the disputed draft bills proposes that if the information provided for the establishment or registration of a company is found to be falsified, the Ministry of Economic Affairs could revoke the registration.

It initially included the proviso: “Exemptions apply where revocation of registration could severely hurt the rights of a company’s shareholders or creditors.”

Despite the proviso being removed following a round of cross-caucus negotiations on Wednesday, legislators yesterday resolved to set it aside to allow time for caucuses to propose their versions of the draft amendment, which would be voted on during a plenary session on Friday next week.    [FULL  STORY]

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