The FSC issued a letter, Ref. No. Jin-Guan-Bao-Tsai-Zi No. 10402503511, on 7 April 2015 to promulgate amendments to the Regulations Governing Use of Insurer's Funds in Special Projects, Public Utilities and Social Welfare Enterprises. Summary of main points of the amendments are as follows:
- Insurance enterprises shall establish an internal control system for use of funds in special projects, public utilities and social welfare.
- Set forth exceptions to the restriction that the total amount of an insurance company's investment in one and the same investee shall not exceed 45% of the paid-in capital of the invested entity.
- Set the rules about the control procedure of supervision and internal control and public disclosure of information for insurance enterprises, regarding investment in the same investee exceeding 50% of the paid-in capital or of the total number of voting shares of the invested entity.
- An insurance enterprises meeting certain conditions may prepare relevant documents of their investment for the competent authority to do ex post audit, when it invests in a project in accordance with the Act for Promotion of Private Participation in Infrastructure Projects under specific amount.