Regulatory Alerts2020-01-31
Added · Updated
Regulations Regarding Authorization Provisions of the Foundations Act by the Central Bank of the Republic of China (Taiwan)
These regulations establish a minimum endowment property value of NTD1.6 billion for foundations overseen by the Central Bank of the Republic of China (Taiwan) and set the specified donation limit under the Foundations Act at NTD2 million. They authorize investments in unsecured corporate bonds and exchange-traded funds subject to specific credit ratings, dividend yield requirements, and portfolio concentration limits. Foundations meeting certain asset or income thresholds must implement internal control systems, obtain audited financial statements, and adopt a code of ethics with detailed governance and reporting procedures. Additionally, the rules cap employee remuneration and bonuses for designated foundations and define the formats for documents submitted to the regulator.
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