Private School Act Article 71

If a school legal person is unable to achieve the objectives specified in the donation charter due to changes in circumstances and has shut down its established private schools according to the preceding article, it may, with the resolution of the board of directors and the approval of the competent authority of legal persons, change its objectives to undertake other educational, cultural, or social welfare enterprises.The legal person authority shall consider carefully the donator’s real intention and allow the change after obtaining approval from the relevant competent authority and consulting the consultative committee, and forward the request to the court with jurisdiction for processing registration of the change.In the event that the school legal person, in accordance with the first paragraph, transitions to a foundation for other educational, cultural, or social welfare enterprises, the land received under Article 28-1 of the Land Tax Act is exempt from penalties as prescribed by the said Act. The land value increment tax that shall be paid may be recorded and deferred until the next transfer of the land, at which point it shall be paid in full. However, if the next transfer occurs due to the dissolution of the restructured foundation, and the donation charter specifies the land to be transferred to the local government where the foundation is located, the land value increment tax shall be exempted.The recorded land value increment tax mentioned in the preceding paragraph shall take priority over all debts and mortgage claims upon transfer of the land.