Act for Promotion of Private Participation in Infrastructure Projects Article 4

The term "private institution" as referred to herein shall mean a company established under the Company Act or any private juristic person approved by the authority-in-charge and that has entered into a concession agreement for its participation in an infrastructure project with the authority-in-charge.Where the government or any government-owned enterprise makes any equity investment in, or makes any donation to, a private institution as referred to in the preceding paragraph, the total equity investment or donation from the government and such government-owned enterprises shall not exceed twenty percent (20%) of the total capital or the total assets of the private institution.Where a foreign investor holds shares in a private institution as referred to in Paragraph 1, the authority-in-charge may, as it may deem necessary on a case-by-case basis, request the approval of the Executive Yuan for exempting the foreign investor from foreign ownership restrictions under any other laws, unless such restrictions are necessary for national security and energy self-reliant.