Ministry of Finance planned to revise the Bank Law to set up the court in charge of financial crime; bank stocks are to be released to the public.

The Ministry of Finance proposed to revise the Bank Law stating that except for the approval of the Ministry of Finance, the bank stocks are to be released to the public and also that the Company Law shall not be applied to revoke the said proposition. In addition, the court in charge of financial crime will be established.

The current Bank Law does not stipulate that the bank stocks should be released to the public. The Bank Law in the past stipulated that the company of a specific capital amount should release its stocks to the public; accordingly, the stocks of the banks are all released to the public. Nevertheless, after the revision of the Company Law in 2001, the company can decide whether it will release the company stocks to the public. In other words, the matter that whether the company will apply with the stock competent authorities about the issue that the company stocks are to be released to the public will depend on the decision made by its board meeting. (2004.03)

CYJ/WYL