To enhance the national space technology research and development capabilities, to implement the national space strategies and plans, and to promote the development of our space activities and space industry, the Taiwan Space Agency (hereinafter referred to as the "Agency") is hereby established and this act is hereby adopted.

The Agency is an administrative corporation and the National Science and Technology Council is the competent supervisory authority of the Agency.

The Agency is in charge of the following affairs:
1. Devise and implement the national space technology plans.
2. Conduct research and development, technology transfer and value-added application of space technology.
3. Promote international cooperation and interaction in space technology.
4. Assist in promoting the development of the space industry, providing guidance on industry technology and upgrading.
5. Conduct legal research related space affairs.
6. Handle matters of the site selection, front-end planning, commissioned operations and management of national launch center.
7. Entrusted with the review of registration for launch vehicles and spacecraft, and launch permit for launch vehicle.
8. Cultivate space technology talents, promote popular education in space science, and community participation.
9. Other matters related to space development.

The Agency is funded by:
1. Budgets approved and allocated by the government and donations (subsidies) from the government;
2. Donations from domestic and overseas public or private institutions, groups, or individuals;
3. Income from the research entrusted to the Agency and the services provided by the Agency;
4. Income from operations and research accomplishments; and
5. Other income.
The donations specified in Subparagraph 2 of the preceding Paragraph are regarded as the donations to the government.

The Agency shall adopt its articles of incorporation and the rules and regulations governing the management of personnel, accounting system, internal control, auditing and others, and shall submit them to the board of directors for approval and thereafter submit them to the competent supervisory authority for reference; where classified national security information is involved, the rules and regulations should be submitted to the competent supervisory authority for approval.
The Agency may adopt the rules and regulations governing the public functions it performs within the scope of relevant laws or legal orders, and shall submit them to the board of directors for approval and thereafter submit them to the competent supervisory authority for reference.