The Executive Yuan has passed the corporation act amendment , and stated the main purpose are creating a friendly economic environment, encouraging business innovation and enhancing corporate governance. This amendment maintains the deregulation of closely-held corporation, for example, dual class shares, non par-value stock...etc. This amendment would reduce transaction costs and attract capital. However, deregulation should combine with disclosure and transparency. This paper focus on issues concerning fund raising, preferred shares and analyzes the difference with other jurisdictions, then provides suggestions for amendment.