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On 22 August 2012, the Financial Supervisory Commission announced the latest amendments to the Regulations Governing Procedure for Public Issuing Companies to Call Board of Directors Meetings. The amendments include the following major provisions:
1.
Subject to the receiving party's consent, the notice for calling a board meeting may be served electronically.
2.
The semi-annual financial reports that are not legally required to be audited by a CPA need not be submitted to the board for discussion and resolution.
3.
Donations to be made to interested parties or material donations to non-interested parties must be submitted to the board for discussion and resolution; provided, however, that qualified charity donations may be submitted to the board following the donation for verification.
4.
Personnel of a company's subsidiaries may attend the company's board meetings.
5.
Professional experts such as CPAs and attorneys attending board meetings should excuse themselves from the meetings when the board conducts discussions and voting.
6.
If whereby any director or the entity represented by such director has an interest in a matter being discussed at a board meeting, such director should explain at the meeting the important details of the interest.
