25 May, 2018
Amended Articles 14-2 and 178 of the Securities and Exchange Act (the “SEA”) were passed by the Legislative Yuan on April 3, 2018.
Pursuant to Amended Article 14-2 of the SEA, a Company shall not impede, refuse or evade the performance of duties by its independent directors.
An independent director may engage experts or ask the board of directors to designate appropriate persons to assist in performing his/her duties if he/she deems necessary, and the independent director may do so at the Company’s expense.
According to Article 178 of the SEA, the company that violates Article 14-2 of the SEA shall be imposed with a fine of not less than NT$ 240,000 but not more than NT$ 2,400,000.
For further information, please contact:
Steven Yen, Tsar & Tsai Law Firm
StevenYen@TsarTsai.com.tw
