House Finally Passes Bill on the Prevention and Control of Financial-System Crises

On 17 March 2016, the House of Representatives (“House”) finally passed the Bill on the Prevention and Control of Financial-System Crises (“Bill”).  The Bill was originally titled the Draft Bill on the Financial-System Safety Net [1] during its deliberation stages, however this was subsequently changed.The Bill sets out the legal basis upon which financial-sector authorities can coordinate and implement certain measures in order to prevent and overcome national financial crisis. To this end, the Bill sets out provisions relating to the following matters: