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Interpretative Letter Issued for Article 2 of Regulations Governing Use of Insurance Company's Funds in Special Projects, Public Utilities and Social Welfare Enterprises
The Financial Supervisory Commission (FSC) issued an Interpretive Letter for Article 2 of the Regulations Governing Use of Insurance Company's Funds in Special Projects, Public Utilities and Social Welfare Enterprises ("Regulations"), per the letter Ref. No. Jin-Guan-Bao-Cai-Zi No. 10602104511 dated October 17, 2017. The main stipulations are as follows:
When an insurer uses its funds in a special project to invest in a domestic fund set up by the national investment company which is invested by the National Development Fund, Executive Yuan and approved by the Executive Yuan ("Investment"), if the Investment is in green energy technologies, Asia Silicon Valley, biotechnology and pharmaceutical industries, defense industry, smart machinery, innovative agriculture and circular economy (i.e., items listed in Paragraph 1 of FSC's letter Ref. No. Jin-Guan-Bao-Cai-Zi No. 10610908021), such Investment shall fall within the "other use in line with government policies" category under Subparagraph 6 of Article 2 of the Regulations.