SPECIAL EXCHANGE AGREEMENT BETWEEN
THE SEPARATE CUSTOMS TERRITORY OF
TAIWAN, PENGHU, KINMEN AND MATSU AND
THE WORLD TRADE ORGANIZATION
(HEREINAFTER REFERRED TO AS THE WTO)
Whereas paragraph 6 of Article XV of the General Agreement on Tariffs and Trade 1994 (hereinafter referred to as the General Agreement 1994), provides that any WTO Member which was not a member of the International Monetary Fund (hereinafter referred to as the "Fund") shall, within a time to be determined by the WTO after consultation with the Fund, become a member of the Fund, or, failing that, enter into a special exchange agreement with the WTO;
Whereas paragraph 7 of the said Article provides that such special exchange agreement shall provide to the satisfaction of the WTO that the objective of the General Agreement 1994 will not be frustrated as a result of action in exchange matters by the Member in question, and taking into account that the terms of such an agreement shall not impose obligations inconsistent with those imposed by the Fund;
Whereas the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu (hereinafter referred to as "Chinese Taipei") desires to accede to the Marrakesh Agreement Establishing the World Trade Organization (hereinafter referred to as the "WTO Agreement") in pursuance of Article XII thereof;
The World Trade Organization
Chinese Taipei, acting through its representative duly authorized for this purpose,
Hereby agree as follows:
Orderly Exchange Arrangements
1. Chinese Taipei shall collaborate with the WTO to promote exchange rates which reflect underlying economic fundamentals, to maintain orderly exchange arrangements with other Members of the WTO, to avoid competitive exchange alterations, and to assist, in accordance with Articles II and III of this Special Exchange Agreement, in the elimination of restrictions on the making of international payments and transfers within the multilateral system, and to promote international trade and investment.
2. Recognizing that the essential purpose of the international monetary system is to provide a framework that facilitates the exchange of goods, services, and capital among countries, and that helps sustain non-inflationary economic growth, Chinese Taipei undertakes to assure orderly exchange arrangements and to promote a stable system of exchange rates. In particular, Chinese Taipei shall:
(i) Endeavour to direct its economic and financial policies toward the objective of fostering sustained, non-inflationary economic growth with macroeconomic stability;
(ii) Permit exchange rates to reflect underlying economic and financial conditions;
(iii) Avoid manipulating exchange rates or the international monetary system in order to prevent effective balance-of-payments adjustment or to gain an unfair competitive advantage over other members; and
(iv) Follow exchange policies compatible with the undertakings under this Article.
Avoidance of Restrictions on Current Payments and Multiple Currency Practices
1. Chinese Taipei shall not, without the approval of the WTO, impose restrictions on the making of payments and transfers related to current account transactions.
2. Chinese Taipei shall not engage in, nor permit its Ministry of Finance, Central Bank, Stabilization Fund, or other agency, to engage in any discriminatory currency arrangements or multiple currency practices except as approved by the WTO.
3. Exchange contracts which involve the currency of any Member or Chinese Taipei and which are contrary to the exchange control regulations of that Member or Chinese Taipei maintained or imposed consistently with the Articles of Agreement of the Fund or with the provisions of a special exchange agreement entered into pursuant to paragraph 6 of Article XV of the General Agreement 1994 or this Special Exchange Agreement, shall be unenforceable in the territories of Chinese Taipei or in the territories of any Member.
Controls of Capital Transfers
1. Chinese Taipei undertakes that it shall seek to avoid the imposition of capital controls to address balance-of-payments and macroeconomic objectives. However, Chinese Taipei may exercise such controls as are necessary to regulate international capital movements, if these movements are destabilizing to the balance of payments or jeopardize macroeconomic stability, so long as Chinese Taipei does not exercise these controls in a manner which will restrict payments for current transactions or which will unduly delay transfers of funds in settlement of commitments.
2. Chinese Taipei undertakes that measures affecting capital flows will be in accordance with this Special Exchange Agreement, the General Agreement 1994, and the WTO Agreement.
3. If Chinese Taipei institutes new capital controls or tightens existing capital controls, it shall immediately after instituting or tightening such controls consult with the WTO.
Restrictions on Payments - General
1. In the event that Chinese Taipei, with the approval of the WTO, as provided in Article II, or consistent with consultations with the WTO, as provided in Article III, as the case may be, imposes a measure to restrict payments and transfers for balance-of-payments and macroeconomic stability purposes, it shall:
(a) initiate good faith consultations with the WTO on economic adjustment measures to address the fundamental underlying economic problems giving rise to the measures; and
(b) adopt or maintain economic policies consistent with such consultations.
2. A measure adopted or maintained under Article II of this Special Exchange Agreement shall:
(a) avoid unnecessary damage to the commercial, economic or financial interests of another Member;
(b) be temporary and be phased out within a clearly-specified time-frame;
(c) be the least burdensome type of action available;
(d) be consistent with this Special Exchange Agreement and the economic policies adopted pursuant to paragraph 1(b) of this Article; and
(e) be applied on a most-favoured-nation treatment basis.
3. A measure adopted or maintained under Article III of this Special Exchange Agreement shall to the extent practicable conform to the provisions set forth in sub-paragraphs (a) through (e) of paragraph 2 of this Article.
Furnishing of Information
1. Chinese Taipei shall furnish the WTO with such information within the general scope of section 5 of Article VIII of the Articles of Agreement of the International Monetary Fund as the WTO may require in order to carry out its functions under the WTO Agreement.
2. Chinese Taipei shall be under no obligation to furnish information in such detail that the affairs of individuals or corporations are disclosed. Chinese Taipei undertakes, however, to furnish the desired information in as detailed and accurate a manner as is practicable.
1. For purposes of this Special Exchange Agreement, the term "Payments for current transactions" means payments which are not for the purpose of transferring capital, as defined by the International Monetary Fund.
2. The WTO shall at all times have the right to communicate its views informally to Chinese Taipei on any matter arising under this Agreement.
3. Whenever the WTO consults with the Fund on exchange matters or in other appropriate cases particularly affecting Chinese Taipei, the WTO shall take measures, as are satisfactory to the Fund, to ensure effective presentation of Chinese Taipei's case to the Fund, including, without limitation, the transmission to the Fund of any views communicated by Chinese Taipei to the WTO.
4. The Understanding on Rules and Procedures Governing the Settlement of Disputes of the WTO shall apply to disputes arising under this Agreement.
5. This Agreement shall enter into force on the date of entry into force of the Protocol of Accession of Chinese Taipei to the WTO.
Price Controls List
The tariff items subject to price controls and their justification and legal basis are as follows:
1. Price Controls Mandated by Law: Electricity and Salt;
2. Price Controls to Implement Specific Policies: Sugar; agricultural policy to stabilize farmers' income and production cost;
3. Price controls on other necessities: Natural gas: mandated by the "Statute for Monitoring Private Enterprises Operating Public Utilities"; price to be determined by the Public Utility Rate Commission .
(i) Electricity: The legal basis for price controls was the Electricity Law;
(ii) Salt: The HS number is 2501. The legal basis for price control was the Statute for Salt Administration;
(iii) Sugar. The legal basis for price control of the sugar sold by the Taiwan Sugar Corporation was the "Managerial Strategy for Sugar and Future Sugar Import Regime" published by the Ministry of Economic Affairs;
(iv) Natural gas: The HS number is 2711.21.00. The legal basis for price control was the Statute for Monitoring Private Enterprises Operating Public Utilities.
Revised Summary of the Tobacco and Alcohol Reform Plan (June 2001)
The following outlines Chinese Taipei's intentions for the tobacco and alcohol reform plan:
Tobacco and Alcohol Taxes
The TTWMB reform plan includes a classification of tobacco products and alcoholic beverages for the purposes of internal taxes (tobacco and alcohol taxes). Tobacco products are classified into cigarettes, pipe tobacco, cigars, and others. Cigarettes are subject to specific tax of 590 NT dollars per 1,000 sticks; pipe tobacco, cigars, and others are subject to specific tax of 590 NT dollars per kilogram.
Alcohol products are classified into brewed alcoholic beverages (including beer and other brewed alcoholic beverages), distilled alcohol beverages (including whisky, brandy, rum, gin, and vodka), reprocessed alcohol beverages, rice wine ("Mi Chiu"), cooking wine, other alcoholic beverages, and alcohol.
The reform of the TTWMB will ensure the levy of tobacco and alcohol tax in a transparent and non-discriminatory manner with equal treatment accorded to imported and domestic products. The setting of the rates of tariffs and taxes has taken into account the current monopoly tax level, Uruguay Round "zero for zero" offers, and the practices of comparable economies of the WTO members. The tariff rates will be incorporated into Chinese Taipei's market access schedules.
Administration of Tobacco and Alcohol Products
This section covers the various aspects of the administration of tobacco and alcohol products with the implementation of the reform plan.
The planting and purchase of tobacco leaves are to be arranged between the manufacturers and tobacco farmers by contracts. Production of cigarettes will not be open to the private sector within two years after the reform.
In terms of the production of alcohol products, the manufacturing of machinery and equipment for alcohol and tobacco production, printing of trademarks, and packaging paper are not regulated in the Tobacco and Alcohol Administration Law. Production of alcohol products will be open to the private sector in stages within three years after the implementation of the new system.
Chinese Taipei plans to liberalize production/manufacture of wine upon the date of the implementation of the new system; liberalization of spirits production will be effected one year after the implementation of the new system. It is the intention of Chinese Taipei to attain full liberalization within two years.
Any person wishing to engage in the production of alcohol and tobacco products will be required to obtain permission from the authority.
After the implementation of the new system, tobacco and alcohol manufacturers legally established will be permitted to import alcohol and tobacco products in bulk for repackaging, provided, however, such manufacturers shall have authorization from the original manufacturers of the imported products and shall be able to produce the relevant certificates of origin.
In addition, tobacco and alcohol manufacturers may contract out or accept contract manufacturing, subject to the approval of the competent authority.
In the importation of alcohol and tobacco products, a license is required for an importer of the products; the license bearer can not have prior record of tax default or criminal offence within a prescribed time. Chinese Taipei has incorporated services related to the distribution of tobacco and alcohol products in its draft schedule of specific commitments on trade in services.
The legal and regulatory framework for production and distribution of alcohol and tobacco products will not impose particular restriction on foreign firms engaging in related commercial activities. The time table and rules for liberalizing the production/manufacture of particular tobacco and alcohol products will apply equally to foreign as well as domestic private firms.
Labelling requirement with respect to tobacco and alcohol products is stipulated under the Tobacco and Alcohol Administration Law. All alcohol products will be required to be labelled with the warning "excessive drinking endangers health."
Product inspection will be governed by the standards established by the health authority and administered by that authority accordingly.
Advertising and promotion for tobacco products are subject to the Tobacco Hazards Prevention Act (promulgated 19 March 1997). Chinese Taipei has to a large extent lifted restrictions and allowed advertising of beer, wine and other alcohol beverages on radio and TV in specified time period of the day. After implementation of the Tobacco and Alcohol Administration Law, advertising of alcohol products in all media will be permitted, subject however to regulation in relation to the content and timing of the advertising. All advertising regulation will be consistent with the principle of national treatment. The advertisement shall not contain contents which run counter to public order and good moral, and public interest; encourage and promote drinking; cause harm to adolescents, pregnant women's mental or physical well-beings; include forged, exaggerated, or false facts or misleading contents; and any other situations prohibited by the competent authority through public notice.
Trading order will be maintained according to the Fair Trade Law and other relevant laws and regulations.
Chinese Taipei has incorporated penal provisions into the draft Tobacco and Alcohol Administration Law to serve the legal basis for enhanced efforts to protect against smuggled and counterfeit products. The alcohol and tobacco administration agency will be given the authority to carry out inspection on the business operations of manufacturers and traders. Inspection and interception of contraband will be subject to the Alcohol and Tobacco Administration Law (passed 4 June 1999), Alcohol and Tobacco Tax Law (draft), Statute for Anti-smuggling Law and Statute for Interception by the Customs, and other relevant laws and regulation. Under the new administration system, contraband and counterfeit products will be destroyed or otherwise disposed of, taking into account the international practices.
Any violation of the Tobacco and Alcohol Administration Law will be subject to administrative or criminal penalties, depending on the type or seriousness of the violation.
The Consolidated List of Commodities Subject to Import Restrictions and Commodities Entrusted to Customs for Import Examination, June 1997 Edition, has been deposited with the WTO Secretariat (Accessions Division, Room 1126).
Illustrative List of Law Amendments
Title of Law
Background of Amendment
Foreign Trade Act
The amendment is to remove previous authorization to take trade restrictive measures when encountering bilateral imbalances of trade. The new version changes the condition for taking such action to imbalance in international payments.
The amendment deletes the words "drastic or large" in describing the amount of increase in imports as a condition to initiate domestic safeguard action. This is to follow the use of language in the Safeguard Agreement.
The amendment also provides a legal basis for the authority to set rules to initiate safeguard action as contemplated in the Agreement on Textiles and Clothing.
This is a new addition to the Law which is intended to provide the legal basis for the authority to regulate the pre-shipment inspection activities of firms mandated by foreign governments. It also gives binding effects of the decisions of dispute resolution panel of the WTO Preshipment Inspection Agreement on the private parties concerned, namely, the preshipment inspection company and the exporter.
The Commodity Inspection Law
The amendment exercise is to achieve the following three objectives:
(i) to incorporate international standards in the domestic standard-setting process, so as to ensure that domestic inspection standards follow international trends, the inspection regime meets the requirements of the TBT Agreement,
(ii) to accord national treatment to foreign products in terms of application of simplified procedures and exemption which were previously available only to domestic products,
(iii) to accept and recognize foreign inspection certificates in order to be in line with the spirit of the TBT Agreement, particularly that calling for mutual recognition.
The Trademark Law
The amendments to this Law are to achieve the following objectives:
(i) to broaden the scope of reciprocal granting of the right of priority to cover the situation where the there is no formal agreement but the right of priority is granted to Chinese Taipei's owner of trademark through practice,
(ii) to include combination of colours in the group of items that are capable of constituting a trademark so as to be consistent with Article 15 of the TRIPS Agreement,
(iii) to extend administrative protection to well known marks by providing that no applications may be filed for registration of a trademark design which is identical with or similar to another person's well-known trademark or mark and likely to cause the public to form a mistaken belief.
The Patent Law
The amendments to this Law are to achieve the following objectives:
(i) to delete the requirement of reciprocity in respect of the granting of patents for micro-organisms, extension of patent protection terms and the granting of exclusive import rights so as to be consistent with Articles 3 and 4 of the TRIPS Agreement,
(ii) to limit compulsory licensing in respect of semi-conductor technology to public non-commercial use or to remedying anti-competitive practice, so as to be consistent with Article 31(c) of the TRIPS Agreement,
(iii) to provide patent owners and his/her exclusive licensees the right to request destruction or other necessary disposition of the infringing goods, raw materials or instruments used, in connection with the infringement, so as to meet the requirement of Article 46 of the TRIPS Agreement which calls for giving the judicial authority to order disposition outside the channels of commerce,
(iv) to provide for shifting the burden of proof in respect of process patents as required by Article 34 of the TRIPS Agreement,
(v) to provide for longer term of protection for industrial design, so as to meet the minimum requirement of 10 years of the TRIPS Agreement.
(vi) to extend the term of protection for patents issued prior to January 1994 that are still in effect upon accession to 20 years and 12 years as from the date of filing for invention patents and new design patents respectively.
The amendment is to delete the reciprocity requirement for recognition of foreign companies and public offering of foreign companies' shares and corporate bonds so as to fulfil Chinese Taipei's commitments under the GATS.
This set of amendments is to achieve the following objectives:
(i) to provide a legal basis for application of tariff-quotas negotiated by Chinese Taipei as substitution measures for existing restrictions,
(ii) to provide for a duty of secrecy on customs personnel in respect of information submitted for assessment of import duties, so as to meet the requirement of Article 10 of the Agreement on Customs Valuation,
(iii) to provide a legal basis for the establishment of the rules of origin and the authority to require the submission of the certificates of origin,
(iv) to revise the customs valuation rules according to the Agreement on Customs Valuation,
(v) to delete the provisions that limit the drawback of import duties to imports of machinery by certain high-tech or important companies whose products are solely for export,
(vi) to revise the provision relating to determination of normal value for purposes of anti-dumping administration so as to make it consistent with Article 2 of the Anti-dumping Agreement.
Statute for Commodity Tax
The amendments are to achieve the following objectives:
(i) to delete rules relating to tobacco and alcohol products as this part of the Law will be replaced by the new Tobacco and Alcohol Tax Law, a separate body of law,
(ii) to delete allowance for deduction of 12 per cent promotion expenses in the calculation of tax base, when goods are not circulated through exclusive distributors, as a reflection of Chinese Taipei's accession commitment,
(iii) to exclude harbour construction dues from the tax base for commodity tax.
(iv) to reduce the tax levied on motor vehicles with a displacement over 2001 cubic centimetres from 35% to 30% within 6 years after the implementation of this Statute.
(v) to eliminate the tax deduction provided to manufacturers of automobiles and motorcycles using domestically developed and designed parts.
Business Tax Law
The amendments are to exclude harbour construction dues from the tax base of the business tax and to require that the business tax base shall include tobacco and alcohol tax as provided in the new Tobacco and Alcohol Tax Law.
The Securities and Exchange Law
Article 54: This amendment is to delete the requirement that the certain business personnel of securities firms be Chinese Taipei residents.
Article 95: This amendment is to delete the limitation that only one stock exchange can be established in one geographical area,
Article 128: This amendment is to delete the limitation that only Chinese Taipei residents can be shareholders of a stock exchange in company form.
The Certified Public Accountants Law
The amendment is to delete the reciprocity requirement for foreigners to take the examination and be qualified as certified public accountants in Chinese Taipei.
Commercial Port Law
To eliminate harbour construction dues, which was levied on ad valorem basis, and collect harbour service fee based on, inter alia, the gross register tonnage of vessels entering the harbour, the weight of cargo loaded and unloaded in the harbour, and the number of departing passengers in order to be consistent with Article 8 of the GATT 1994.
This set of amendments is directed:
(i) to provide a statutory basis for allowing Chinese Taipei lawyers to hire foreigners to work as consultants or legal assistants,
(ii) to delete the reciprocity requirement for foreigners to take the bar examination and become qualified to practice Chinese Taipei law,
(iii) to provide the statutory basis and qualification standards for allowing foreign lawyers to practice the laws of their home countries and international law in Chinese Taipei.
The amendment is to delete the reciprocity requirement for foreigners to take the architects' examination and become qualified to practice in Chinese Taipei.
Statute Governing Privileges and Immunities of the Foreign Missions and their Personnel in Chinese Taipei
This addition to the Law is to extend privileges and immunities to WTO related personnel for purposes of Article 8 of the Marrakesh Agreement Establishing the World Trade Organization.
Law of Pharmaceutical Affairs
This amendment is to lift the restriction on and provide rules for regulating repackaging of imported pharmaceutical products.
Law Governing Food Sanitation
The amendment is to provide the labelling of food products with an option to use the date of manufacture or the expiry date as a code for product identification.
The Publication Law
This law was repealed on 25 January 1999.
Central Bank Act
The amendment is to replace current limitation on foreign liabilities of banks operating in Chinese Taipei with reserve requirements.
This amendment is to compliment the amendment of Article 23 of the Central Bank Act in respect of the authority in the setting of the deposit reserve ratio and reserves for other liabilities.
The amendments to this Law are to achieve the following objectives:
1) To amend the definitions for public broadcast and public performance;
2) To provide computer programs with the same level of protection as that of literary works;
3) To include explicit protection for performances;
4) To revise the provisions regarding the ownership of works created in the course of employment or under commission. These revisions are aimed at reducing tension which have existed between the employers and employees under the old law;
5) To revise the provisions regarding the moral right of integrity in order to accommodate the use and circulation of works;
6) To expand the subject matter of works protected by the public display rights;
7) To delete provisions mandating the competent authority to set the minimum prices for the transfer of economic rights of works and the royalties for the use of such works. This change is made because that market mechanism should be allowed to determine these prices;
8) To delete provisions concerning compulsory licenses for translations in accordance with TRIPS and the Berne Convention;
9) To amend provisions regarding compulsory mechanical licensing for musical works. This is based on the ideal of promoting the circulation of musical works;
10) To abolish the copyright registration system;
11) To afford a life plus 50 years or 50 years term of retroactive protection for works not protected prior to Chinese Taipei's accession to the WTO.
Copyright Intermediary Organization Act
The new legislation is to promote and to facilitate the use of copyrighted works by the general public through well-established professional copyright intermediary organizations, following examples from international practices.
Statute for Establishment and Management of Economic Processing Zone
The amendments to this Statute are to promote international trade by means of the following:
1) To replace the original policy objective of export- oriented by international trade promotion;
2) To expand the scope and depth of business within the zone, including trade, consultation, R&D and technical services;
3) To encourage investments by the elimination of restrictions on establishing businesses within the zone;
4) To increase administrative efficiency within the zone by simplifying the customs clearance process, consistent with the Negative List provided by Article 11 of the Foreign Trade Act;
5) To delete the provision which excludes duty drawback on imported machinery sold to in-zone enterprises by firms located in areas where tariff is leviable in order to eliminate the possible tendency to encourage purchase of locally-produced machinery;
6) To eliminate the local sale restriction;
7) To provide that the customs duties levied on the products produced in this zone and sold in the local market shall be based on ex-factory prices minus value added attributable to this zone.
Tobacco and Alcohol Administration Law
Following the tobacco and alcohol reform plan, the new Law is to provide legislative mandate to the administrative authorities for the opening-up of the tobacco and alcohol products. The new Law aims to achieve the following:
1) To provide a legal basis for the authorities to regulate the manufacture and the distribution of tobacco and alcohol products;
2) To provide definitions of tobacco and alcohol products;
3) To forestall international trade disputes by preventing the prevalence of counterfeit products and ensuring established standards are implemented and enforced in the manufacture of tobacco and alcohol products;
4) To protect national health interests by including measures such as guidelines on labelling tobacco and alcohol products and regulations on advertisements.
Statute Governing the Organization of National Treasury, Ministry of Finance
The amendments of this Statute reflect the administrative modifications made with the reform of the tobacco and alcohol monopoly. A department will be added to the current organizational structure to implement administrative requirements established in the new Tobacco and Alcohol Administration Law.
Tobacco and Alcohol Tax Law
The new legislation is to achieve the following:
1) To provide definitions of tobacco and alcoholic beverages;
2) To establish a new tax system in light of the reform of the tobacco and alcohol monopoly to facilitate tax collection;
3) To establish tax collection procedures to facilitate the enforcement of the new tax regime.
Food Management Law
The amendment to this Law had been made to implement Chinese Taipei's commitment on lifting the rice import ban upon accession to the WTO, and to provide a legal basis for collecting mark-up.
Customs Import Tariff and Classification of Import & Export Commodities
It is amended in accordance with the Schedule of Concessions of the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu as annexed to this Working Party Report.
Statute for Agriculture Development
The amendments to this Statute are to achieve the following:
1) To introduce competitive pricing system by deleting "uniform pricing" for exported agricultural products, to complement the enforcement of the Fair Trade Law and open-market mechanisms;
2) To expand the Statute to include special safeguard provisions consistent with the WTO Agreement on Agriculture;
3) To introduce measures to prevent the monopolization of the market.
Statute Governing the Organization of the Public Construction Commission
The amendments to this Statute reflect the re-structured and expanded responsibilities of the Public Construction Commission. The changes include:
1) To establish a committee within the Commission to handle complaints by suppliers on government procurement projects
2) To establish an information office within the Commission as a centralized information system on public construction and government procurement projects;
3) To provide technical assistance and support to other government agencies in matters relating to government procurement.
Statute for Inspection Procedure Governing Properties by Government Agencies
The statute was repealed on 4 June 1999 as the Government Procurement Law took effect on 27 May 1999.
Government Procurement Law
To mandate government procurement procedures to be consistent with the rules of WTO Government Procurement Agreement.
To institute dispute settlement procedure in the context of government procurements.
Government Procurement Law took effect on 27 May 1999.
Fair Trade Law
The amendment is to achieve the following objectives:
1) To increase the pecuniary burden on persons and enterprises that violate the Fair Trade Law.
2) To enhance the Commissions ability to impose more significant fines on enterprises that do not comply with Commission directives and dispositions.
3) To conform with the principle of "disposing cases through administrative channels before resorting to the judicial system".
With respect to enterprises that violate the provisions of this Law, the Fair Trade Commission may specify a time period within which the enterprise is required to cease or rectify its conduct or within which it must adopt corrective measures; in addition, the Fair Trade Commission may impose a fine of between fifty thousand and twenty-five million NT Dollars. If within the specified time-period the enterprise fails to cease or rectify its conduct, or to take corrective measures, the Fair Trade Commission may continue to specify a time period within which the required to cease or rectify its conduct or within which it must adopt corrective measures, and may impose successive fines of between one hundred thousand and fifty million NT Dollars until the acts in question cease or are rectified or until the corrective measures are adopted.
The Statute for the Establishment and Administration of a Science-Based Industrial Park
To delete the provision which excludes duty drawback on machinery sold in this zone in order to eliminate the possibility of encouraging park-based enterprises to purchase locally-produced machinery.
To relax the percentage of foreign equity ownership of local telecommunication business for direct and indirect investment in accordance with the commitments made in the Service Schedule.
Law for the Administration of State Owned Enterprises
To eliminate the preferential treatment on procurement of locally-produced material and equipment by state owned enterprises.
TANC offers these agreements electronically as a public service for general reference.
Every effort has been made to ensure that the text presented is complete and accurate.
However, copies needed for legal purposes should be obtained from official archives maintained by the appropriate agency.