Promulgation of the interpretive order pursuant to Paragraph 1 of Article 146-2 of Insurance Act, which stipulates the directions governing the regulatory compliance for insurance companies with regard to their immediate benefits of real estate investment
2019-04-23
The FSC promulgated the interpretive order pursuant to Paragraph 1 of Article 146-2 of Insurance Act, which stipulates the directions governing the regulatory compliance for insurance companies with regard to their immediate benefits of real estate investment on April 23, 2019. It offers insurance enterprises eligibility to invest in the real estate allocated by the government if they participate in urban renewal projects with originally owned or allocated real estate reaching more than 75%. Under this circumstance, the regulation that requires investments in real estate shall be limited to real estate that can be used immediately and from which benefit may be derived does not apply. Furthermore, before the investment, documentations including a usage plan shall be submitted to the FSC for the project review of immediate usage period.
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352
Update：
2019-08-13