When a government-owned enterprise organized under the Company Law is converted into a private enterprise, although the transfer date is announced to ensure the rights, duties and the stability of the government-owned enterprise, the transferring enterprise is not considered to be a private company unless the amount of shares held by the private sector is above 50% pursuant to Article II (4) of the Statute Governing the Conversion of State-owned Enterprises into Private Enterprises. Therefore, an employee appointed under the original regulations is still recognized as a public functionary under the criminal law until the conversion of the government-owned enterprise into a private enterprise has been completed.