Good.
I assume I can edit freely.
Completely rewrite history. It sounds like we’re in communist Russia or something.
I probably should not edit your part.
Never mind, we’re good.
Yes.
We do not yet know how the differences between the two versions are going to be resolved, do we?
If it’s entirely blank pages, that probably doesn’t work. It needs to be...
Right, like cartoons.
Cartoons might work. You can actually do a report in cartoon fashion and say some substantive things.
It was a very good discussion. I don’t have a good feeling for how the politics is going to work out. That’s the real question. Of course, we are very interested in seeing it move along fairly quickly.
We’ve got some real sense of urgency. We think that it would be good for Taiwan if Taiwan can be the first Pacific Rim country to do this, too.
I do not know enough about Taiwanese law.
A year ago, Ecuador proposed to do that. Ecuador actually wrote regulations that would be adopted by the superintendent of corporations in Ecuador. The lawyers that looked at it in Ecuador that we were working with said that they thought that that would be enforceable and would be an option.
They actually proposed regulations. They formally published regulations in Ecuador, and then the government changed. Now they’ve introduced legislation, so they’re not going to do regulations. If you could do regulation right away...
Then the only question would be would it be recognized as enforceable and be something that would be binding that the companies could rely on if they used it?
That’s a very interesting idea. No one’s raised that issue in Taiwan before this morning. I think it would be preferable if we could get the legislation done.
If we can’t, that’s an interesting alternative. Make a note. [laughs]
We should at least talk to Professor Fang.
Slightly different.
I think it would be preferable, if we went this way, to try to do it at the national level. When you set up a corporation in Taiwan, do you do that through the central government? Do you file your papers...?
Oh, OK.
They actually file the documents?
It’s already centralized?
If a member of the public wants to get a copy of the documents for a corporation, they go to the Central Ministry or do they go to...
The public does not have access to all of the records of a corporation...
...without consent? That’s interesting. That’s different than the United States.
It’s interesting. Every country has their own system. [laughs]
I’m learning more and more about the...
You can do that in the central database, but you cannot get the copy of the document.
Right.
I’m intrigued by the notion of regulations. We should investigate that.
Who would write those regulations? The ministry?
They’re busy at the moment writing a report to Congress already on this.
You are?
Apologies.
You could actually write the regulations.
We definitely have to talk to Richard about this.
We’re going digital right, so that’s your...
You’re at the center of everything digital.
We could always do regulation, and then...
...it could be replaced by legislation at some point.
In the United States, what we would do is, if we replaced the regulation with legislation, we would grandfather companies that used the regulations. We would say that everyone that...
...acted under the regulation is now deemed to be under the legislation.
It carries over seamlessly.
You have an election?
Will come in.
Very interesting.
The regulation can basically, I think, be exactly what’s been proposed in the legislation.
New penalties.
