The Presidential Office has announced that the new law dealing with ill-gotten political party assets has taken effect. The announcement effectively freezes all political party assets.
On July 25, the legislature passed the third reading of the Act Governing the Handling of Ill-gotten Properties by Political Parties and Their Affiliate Organizations. The act states that all properties obtained by political parties after 1945 are to be considered illegal and must be returned to the state. This does not include party membership fees and political donations.
A Cabinet-level committee will also be set up to deal with the KMT’s assets, the primary target of the law. The Democratic Progressive Party considers this a major milestone in democracy and transitional justice.