Three Special Financial Courts to Begin Operating at the End of August.　Trial of Material Cases Will Be Closed within Two Years with Binding Judgments.

　Three special financial courts are set up under Taipei District Court according to the Judicial Yuan’s order given on January 30, 2008.  Through more than 4 months of preparation, three financial courts staffed with nine judges are officially established on August 29, 2008.

　The establishment of financial courts represents an initiative to the Taiwan judicial system and features significantly in judicial reformation promoted by the Judicial Yuan.

　As stipulated by Subparagraph 23, Article 2 of the “Precautionary Matters on Handling Material Criminal Cases for Trial Efficiency” (法院辦理重大刑事案件速審速結注意事項), the special financial courts will handle cases in violation of the Banking Law, Securities and Exchange Act, Futures Trading Act, Money Laundering Control Act, Trust Enterprise Act, Financial Holding Company Act, Act Governing Bills Finance Business, Credit Cooperatives Act, Insurance Act, and Agricultural Finance Act that involve dollar amount in excess of TWD100 million in legal interests, or other types of cases that cause loss to other people’s proprietary interests by illegal means, or those that affect socioeconomic order adversely and involve dollar amount in excess of TWD100 million in legal interests.  (2008.6)

/CCS