Act for Promotion of Private Participation in Infrastructure Projects Article 49

Where an infrastructure project participated in by the private institution is a public utility enterprise, the private institution may, based on the following factors, set the fare rate and the schedule and method for fare adjustment in the financial plan submitted in its application:1.Cost expenditures for planning, construction, operation and other financial matters;2.Income derived from the operation and the ancillary enterprises;3.Operation period;4.Payment of royalty; and5.Price index.The fare rate and the schedule and method for fare adjustment as referred to in the preceding paragraph shall, before the execution of the concession agreement by the authority-in-charge and the private institution, be approved by the relevant authority in charge of the public utilities concerned in accordance with applicable laws. Afterwards, the authority-in-charge shall have such approved fare rate and the schedule and method for fare adjustment included in the concession agreement and then announce the same in a public notice.If after the operation of the infrastructure project hereunder, it is necessary to make any adjustment to the fare rate and/or the schedule and method for fare adjustment as approved under the preceding paragraph, such an adjustment shall first be approved by the competent authority in charge of the public utilities in accordance with applicable laws. Afterwards, the authority-in-charge shall have the concession agreement modified accordingly and then announce the same in a public notice.