Increase of Independent Director Seat for Listed Company
Increase of Independent Director Seat for Listed Company
The 3.0 version of permanent development program of company was issued by Taiwan Securities and Futures Bureau which aims to reinforce the overall operation and power of directors. The program is suitable for all listed companies in Taiwan. The points of this program as following:
- Due to a majority of listed companies in Taiwan affiliated as family business, it is expected to set up more seats of independent directors as well as to regulate that the seats of independent directors shall not be less than one-third seats gradually in order to reinforce the function of supervision by board of directors furtherly.
- Schedule of Program:
2022 Year The guideline for listed company to manage: https://cgc.twse.com.tw/evaluationCorp/listCh。 2023 Year From the related articles revised by Taiwan Securities and Futures Exchange and Purchase Center, it is required that the amount of paid-up capital shall be more than TWD$ 10,000,000,000 for listed companies which apply for stocks initially and the seats of independent directors shall not be less than one-third seats for financial and insurance listed companies.