Regulations of financial treatment of industrial and commercial groups Article 16

Real property transactions of industrial and commercial groups concerning acquisition, sale, transfer or creation of other rights shall be approved at the general meetings of members (member representatives) in advance. They shall also be reported to the competent authorities for review and recording. However, acquisition of real property under abnormal circumstances shall be adopted at a joint meeting of directors and supervisors under the authorization of general meetings of members (member representatives). Once approved, the transactions shall subsequently be ratified at the general meetings of members (member representatives) and reported to the competent authorities for review and recording.