Taiwan mulls overhaul of online regulations

2015-03-13

The ROC Cabinet is mulling potential adjustments and amendments to existing regulations governing a wide spectrum of online activities in Taiwan, according to Minister without Portfolio Tsai Yu-ling.

“Experts from academic, public and private sectors will share ideas in a specially convened meeting in the evening of March 12,” Tsai said, adding that they are expected to also engage in online interaction with Internet users through the Cabinet’s web-based community and forum vTaiwan.

“The proposed agenda of the live-streamed event includes close corporation legislation, easing of regulations on company registry and technology investment, as well as no-par value stock and multiple voting rights of preferred shares,” she said. “These areas are in need of adjustment so as to create a regulatory framework for the virtual world’s startup boom.”

Tsai said ROC corporate law was largely tailored for the country’s thriving manufacturing sector, which must quickly respond to changes brought about by the autonomous online business environment.

Other issues to be addressed in the meeting comprise consumer protection, crowdsourcing, health care, online sales taxation, open government data, privacy, remote education and teleworking regulations.

According to Tsai, the government adopts a minimal interference approach to virtual business management in a bid to foster corporate innovation and self-regulation. “Ultimately, the aim is to shape a digital future for Taiwan, creating a secure environment for e-commerce and establishing the country as a hub for Internet-based businesses,” she said.

The Cabinet also invites public participation in policymaking, Tsai added, reaffirming that input garnered through vTaiwan platform will be included in the agenda and discussed by panel members.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=228196&CtNode=413)