Regulations for the Auction of Domestic Land and Improvements Acquired by Foreigners That Are Not Used in Accordance with Regulations Article 2

For land acquired by foreigners in accordance with Article 19 Item 1-8 that is not used in the stipulated period and manner,except when an extension is applied for and approved by central competent authorities, the central competent authorities shall notify the municipality or country (city) government of the land office to inform the land owner to sell the land within three years after receipt of the notification.For land owners that do not sell the land within the stipulated period of time, the municipality or country (city) government shall notify the central competent authorities to determine if the land is being used in accordance with the objectives of the originally approved investment plan based upon the following criteria:1.After verifying that use is in accordance with the objectives of the originally approved investment plan, the central competent authorities shall set the auction terms and conditions and related auction review items and pass them to the municipality or country(city) government to conduct the auction.2.After verifying that continued use does not need to be in accordance with the objectives of the originally approved investment plan,the central competent authorities shall revoke the originally approved investment plan and pass the relevant regulations to the municipality or country (city) government to restore the original use controls for the land and then hold the auction.