Laws and Regulations Database of the Central Bank of the Republic of China(Taiwan)

9.Authorized banks approved to engage in NTD non-discretionary trust funds 
　investing in foreign-currency denominated securities shall abide by the 
　following provisions:

　(1)Trustors shall be limited to the followings:

　　 i.A domestic natural person, or a foreign natural person/ citizen of 
　　　 Mainland China who holds a valid Resident Certificate of Taiwan Area, 
　　　 Alien Resident Certificate or an identification document issued by the 
　　　 Ministry of Foreign Affairs.

　　ii.A domestic legal entity; a foreign legal entity recognized by the ROC 
　　　 government, or whose branch office is registered under the ROC Company 
　　　 Act or Limited Partnership Act.

　 iii.Other entities approved by the Financial Supervisory Commission 
　　　 (hereinafter referred to as FSC) or the Bank.

　(2)Payments and redemptions of the trust funds shall only be handled in NTD 
　　 instead of in foreign currency.

　(3)Data reporting: Authorized banks shall file reports in accordance with the 
　　 regulations prescribed by the Bank for the business of NTD 
　　 non-discretionary trust funds investing in foreign-currency denominated 
　　 securities.

10.Authorized banks approved to engage in foreign currency non-discretionary 
　 trust funds investing in foreign-currency denominated securities shall abide 
　 by the following provisions:

　 (1)Trustors shall be limited to the followings:

　　　i.Counterparties listed under Subparagraph 1 of the preceding point.

　　 ii.A foreign natural person or a citizen of Mainland China who holds a 
　　　　valid entry visa and has opened a foreign currency deposit account at 
　　　　the authorized bank in accordance with the relevant account opening 
　　　　regulations prescribed by FSC.

　 (2)Trustors shall open foreign currency deposit accounts at the authorized 
　　　bank.

　 (3)Payments and redemptions of the trust funds shall only be handled in 
　　　foreign currency instead of in NTD.

　 (4)When the trustor is the beneficiary, the trustor's beneficial rights in 
　　　the trust may be pledged as the collateral for a foreign currency loan in 
　　　accordance with the Trust Enterprise Act and other relevant provisions.
 

　 (5)Data reporting: Authorized banks shall file reports in accordance with the 
　　　regulations prescribed by the Bank for the business of foreign-currency 
　　　non-discretionary trust funds investing in foreign-currency denominated 
　　　securities.

　 When an authorized bank engages in the business set out in Article 17-1 of the 
　 Governing Regulations, the trustor shall be limited to those mentioned in 
　 Subparagraph 1 of the preceding paragraph.