It carries over seamlessly.
...acted under the regulation is now deemed to be under the legislation.
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...
...it could be replaced by legislation at some point.
We could always do regulation, and then...
You’re at the center of everything digital.
We’re going digital right, so that’s your...
We definitely have to talk to Richard about this.
You could actually write the regulations.
Apologies.
You are?
They’re busy at the moment writing a report to Congress already on this.
Who would write those regulations? The ministry?
I’m intrigued by the notion of regulations. We should investigate that.
Right.
You can do that in the central database, but you cannot get the copy of the document.
I’m learning more and more about the...
It’s interesting. Every country has their own system. [laughs]
...without consent? That’s interesting. That’s different than the United States.
The public does not have access to all of the records of a corporation...
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...
It’s already centralized?
They actually file the documents?
Oh, OK.
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...?
Slightly different.
We should at least talk to Professor Fang.
If we can’t, that’s an interesting alternative. Make a note. [laughs]
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.
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?
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...
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.
I do not know enough about Taiwanese law.
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.
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.
Cartoons might work. You can actually do a report in cartoon fashion and say some substantive things.
Right, like cartoons.
If it’s entirely blank pages, that probably doesn’t work. It needs to be...
We do not yet know how the differences between the two versions are going to be resolved, do we?
Yes.
Never mind, we’re good.
I probably should not edit your part.
Completely rewrite history. It sounds like we’re in communist Russia or something.
I assume I can edit freely.
Good.
