Newsletter
AMENDMENT TO THE STATUTE FOR ADMINISTRATION OF INVESTMENT PLANS OF SCIENCE-BASED INDUSTRIAL PARKS
The Statute for the Administration of Investment Plans of Science-Based Industrial Parks was amended on 10 April 2009 as summarized below:
The original Paragraph 2, Article 2 set forth that for an enterprise that fails to proceed with the corporate or branch registration by the deadline, the Park Administration shall refund the originally posted investment guarantee bond if the investment of such enterprise is revoked by the Administration. It is revised to the effect that in case such enterprise has already rented the land and building, the originally posted investment guarantee bond should be confiscated, since such enterprise has already utilized the resources of the park.