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%.
In case of any questions, readers are welcome to contact C. V. Chen, or Joyce C. Fan of Lee and Li, Attorneys-at Law.
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