Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 127

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4
Chunk 127
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 of conducting business, violate any provisions that cause damage to other persons.

Single Shareholder: Government or Corporate
Shareholder

Paragraph 1 of Article 128-1
of the Company Act stipulates: “ A company limited by shares which is organized by a single government shareholder or a single
juristic person shareholder shall be free from restrictive requirement set out in Paragraph One of the preceding Article. The functional
duties and power of the shareholders’ meeting of such company shall be exercised by its board of directors, to which the provisions
governing the shareholders’ meeting as set out in this Act shall not apply. ” Pursuant to this regulation, a company which
has only one shareholder being the government or a single juristic person does not need to apply the provisions about shareholders’
meeting as set forth in the Company Act. Instead, all duties and powers that are generally exercised at the shareholders’ meeting
are taken over by the board of directors of such company.

Trust

Article 5 of the Trust Law
stipulates: “ A trust act shall be null and void if (1) the trust is established for any purpose against the mandatory or prohibitive
regulations; (2) the trust is established for any purpose contrary to the public order or good morals; (3) the trust is established mainly
for serving administrative appeal or litigation purposes; or (4) the trust designates a beneficiary prohibited by law from holding any
specific property rights. ”

Employment

Fundamental Law

The Labor Standards Law is
the fundamental law which establishes the minimum requirements and standards of employment terms and conditions, including working hours,
overtime pay, leaves and benefits, severance pay, etc. The minimum wage, which is determined by the Ministry of Labor, is currently NT$24,000
per month, or NT$160 per hour.

Insurance

As an employer in Taiwan,
it is compulsory to bear the following three expenses for their employees: (i) the labor pension borne by the employer either under the
Labor Pension Act or under the Labor Standards Act, (ii) national health insurance under the National Health Insurance Act, (iii) labor
insurance under the Labor Insurance Act.

Paragraph 1 of Article 6
of the Labor Insurance Act stipulates: “ The following workers above 15 full years and below 65 years of age”; paragraph 3 of the Article stipulates: “ The preceding two provisions apply to employed
foreign nationals. ”; Article 9 of the Act also