Taiwan – The Ministry Of Economic Affairs (“MOEA”) Indicated That In The Event That The Effective Date Of Resignation Of Director Or Supervisor Is Subject To A Period Of Time Or Condition, Company May Elect Succeeding Director Or Supervisor Before Then.

February 2, 2018

February 2, 2018 by Conventus Law

2 February, 2018

According to a letter issued by the MOEA in 2003, a company is not allowed to elect succeeding director or supervisor until the actual vacancy occurs.

The MOEA issued a supplemental interpretation in this regard on October 24, 2017, indicating that while the company may elect succeeding director or supervisor to fill the expected vacancy when a director or supervisor has tendered resignation but such resignation is to become effective on a certain date or upon the occurrence of a certain condition, such election of succeeding director or supervisor is nonetheless subject to a condition subsequent.

The company cannot file an application for amended registration with the MOEA to record the changes of director or supervisor until such resignation becomes actually effective.