Legal change doesn't create conflicts of interest: Lin

Minister of Finance Lin Chuan (林全) yesterday stressed that he will not take on the chairmanship of a private financial holding company after leaving his post, as he wished to avoid conflicts of interest.

He made the remarks in the legislature yesterday morning in response to criticism from lawmakers.

The lawmakers said that Lin's recent endeavors to push forth President Chen Shui-bian's (陳水扁) financial reforms were aimed at allowing administration officials to assume well-paid executive positions in private companies after they left office. They cited the Examination Yuan's recent amendment to the Civil Servant Services Act (公務員服務法), which relaxed some limitations on the jobs officials could take when they retired.

They ridiculed the new regulation as the "Yen Ching-chang (顏慶章) clause."

Yen, former finance minister and the nation's former representative to the WTO, was elected chairman of Fuhwa Financial Holding Co (復華金控) in late June.

Taiwan Solidarity Union (TSU) Legislator Lo Chih-ming (羅志明) said Yen failed to prevent conflicts of interest, as Fuhwa's license was issued during Yen's tenure in the finance ministry.

Lin said that according to the Examination Yuan's explanation, Yen was no longer the finance minister when Fuhwa was established in February 2002, and therefore he did not violate regulations.

Lin reiterated his position when independent Legislator Chiu Yi (邱毅) and Chinese Nationalist Party (KMT) Legislator Fei Hung-tai (費鴻泰) bombarded him with the same question, saying "I will definitely avoid conflicts of interest, even in areas that the law does not govern."