Taiwan: MOF Revises Rules For Overseas Investment By Insurance Companies

On 26 November 1999, the Ministry of Finance completed amendment to its rules on the "Scope and Content of Overseas Investments by Insurance Companies". Point 3 was amended, and a new Point 7 added. The main changes are: (a) the addition of a new category of overseas investments open to insurance companies: i.e., investments in major economic construction projects designated by the Executive Yuan as furthering the government's economic development policy; and (b) the provision that in case of an investment in company shares, it is not subject to the restriction of Point 2 which limits investment in shares of companies with an after-tax net profitability in the past three years exceeding 6%.

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