Regulations Governing Use of Insurer's funds in Special Projects, Public Investments and Social Welfare Enterprises Article 5
The investment targets of an insurer, either special projects, public investments or social welfare enterprises, shall be income generating and limited to such companies limited by shares that are incorporated and registered in accordance with the Company Act, with the exceptions of development, construction, loans and investment projects undertaken in line with government policies or making capital contribution to lawfully established social welfare enterprises.Where an insurer uses its funds to invest in a special project, or a public investment or social welfare enterprise, which meets any of the following criteria, the invested entity may be a limited partnership enterprise registered in accordance with the Limited Partnership Act without being subject to the restriction of company limited by shares provided in the preceding paragraph:1. The invested entity is a venture investment enterprise qualified to receive guidance and/or assistance from the central competent authority according to the Regulations for the Guidelines for Venture Capital Businesses.2. The invested entity is the private equity fund listed in Subparagraph 2, Article 2.3. The invested entity is the cultural and educational conservation and construction project provided in Subparagraph 5 of Article 2.4. Other entities that align with government policies and comply with the requirements of the competent authority.Where an insurer uses its funds to engage in investments provided in the preceding paragraph, the insurer must be a limited partner in the limited partnership enterprise and meet the following requirements:1. The insurer has established internal operating rules in accordance with relevant self-regulatory rules set out by the insurance association and filed with the competent authority for reference; and2. The insurer’s ratio of total adjusted net capital to risk-based capital in the most recent period complies with the regulatory standard for capital adequacy set out in Subparagraph 1, Paragraph 2, Article 143-4 of the Act (hereinafter referred to as "the regulatory standard ").
中文原文 保險業資金辦理專案運用公共及社會福利事業投資管理辦法第5條
專案運用、公共及社會福利事業投資之對象應具收益性，除配合政府政策性之開發、建設、放款與投資，或出資依法設立之社會福利事業機構外，以依公司法設立登記之股份有限公司為限。
保險業資金辦理專案運用、公共及社會福利事業投資之被投資對象，符合下列規定之一者，得為依有限合夥法設立登記之有限合夥事業，不受前項股份有限公司之限制：
一、被投資對象為依創業投資事業輔導辦法規定列為中央主管機關輔導協助之創業投資事業。
二、被投資對象為第二條第二款所列之私募股權基金。
三、被投資對象為第二條第五款所列文化、教育之保存及建設。
四、其他配合政府政策並符合主管機關規定之被投資對象。
保險業資金辦理前項投資時，以擔任該有限合夥事業之有限合夥人為限，且應符合下列條件：
一、已依保險業同業公會報經主管機關備查之相關自律規範，訂定內部作業規範。
二、最近一期自有資本與風險資本之比率應符合本法第一百四十三條之四第二項第一款所定資本適足之法定標準（以下簡稱法定標準）。
保險業資金辦理專案運用、公共及社會福利事業投資之被投資對象，符合下列規定之一者，得為依有限合夥法設立登記之有限合夥事業，不受前項股份有限公司之限制：
一、被投資對象為依創業投資事業輔導辦法規定列為中央主管機關輔導協助之創業投資事業。
二、被投資對象為第二條第二款所列之私募股權基金。
三、被投資對象為第二條第五款所列文化、教育之保存及建設。
四、其他配合政府政策並符合主管機關規定之被投資對象。
保險業資金辦理前項投資時，以擔任該有限合夥事業之有限合夥人為限，且應符合下列條件：
一、已依保險業同業公會報經主管機關備查之相關自律規範，訂定內部作業規範。
二、最近一期自有資本與風險資本之比率應符合本法第一百四十三條之四第二項第一款所定資本適足之法定標準（以下簡稱法定標準）。