The FSC recently imposed an administrative fine of NT$1 million on Nan Shan Life Insurance after learning that the company had acquired undeveloped land and then failed to complete development of the land within 5 years, thus failing to use the land in a timely manner and with reasonable benefit, as required by Paragraph 1, Article 146-2 of the Insurance Act. The fine was imposed in accordance with Subparagraph 3, Paragraph 5, Article 168 of the same Act.