In order to bring laws against commodity hoarding, fraud, and loan sharking up to speed with today's circumstances, on May 31 the Executive Yuan Council approved a draft amendment that would strengthen the Criminal Code. This draft will be sent to the Judicial Yuan and Legislative Yuan for further deliberation.
"Since these are matters that deeply concern the public, the Ministry of Justice should actively communicate with lawmakers of both ruling and opposition parties in order to complete the legislation as soon as possible," Premier Sean Chen said after the bill was approved.
Major amendments contained in the draft bill, which addresses the current inadequacy of Article 251of the Criminal Code, are as follows:
1) To combat attempts to drive up prices, any person who hoards (a) grain or other food stuff needed by public or (b) seedlings, fertilizers, raw materials or other essential commodities of agricultural and industrial products without an appropriate reason for withholding these products from the market may be imprisoned for up to three years and/or fined up to NT$300,000 (US$10,000). Those disseminating false information with the intention of increasing food prices may likewise face the same penalties.
2) Anyone who (a) uses the name of any government agency or civil servant, (b) uses communication media such as radio, television, electronic devices or the Internet or (c) conspires with at least two others to commit fraud shall be considered guilty of serious fraud. He is subject to an imprisonment of one to seven years and may be fined as much as NT$1 million (US$33,300).
3) The requirements and scope of the usury law have been revised, and the maximum prison term that may be given for usury has been raised from one year to three years.
4) The use of fear to make a person repay a loan, such as through violence, coercion, surveillance, threats, breaking into a home or inflicting physical harm or property damage, shall be classified as serious usury, which warrants a prison term of six months to five years and a fine of up to NT$500,000 (US$16,600)
Because Article 251 does not incorporate every kind of essential good or related illicit activity, the premier directed the Fair Trade Commission and the Council of Agriculture to examine whether the Fair Trade Act and Agricultural Products Market Transaction Act, respectively, need to be revised. He also asked the Ministry of Justice to assess whether further action is needed to address non-food goods which are not regulated by the law.