| Article 9 |
（Establishment of processing regulations for beneficiary securities issued by entrusted institutions）
The Trustee shall file an application or make a registration, along with the following documents, with the competent authority for the approval or effective registration of the issue of Beneficiary Securities; the guidelines related thereto shall be prescribed by the competent authority:
1. the asset trust securitization plan;
2. the SPT contract;
3. explanations regarding the methods of managing and disposing of the trust property; if a Servicer is appointed to manage and dispose of the trust property, the appointment agreement or other documentary proofs;
4. relevant risk hedging plans and documents; and
5. other documents as required by the competent authority.
The Trustee shall not issue Beneficiary Securities without the approval from or effective registration with the competent authority.
The Trustee shall operate the SPT business in accordance with the asset trust securitization plan approved by or effectively registered with the competent authority.
The Originator and the Trustee shall not be the same affiliated enterprise, and the document and information related to the trust property shall be provided to the Trustee without false statements or concealments.
The Originator violating the preceding paragraph shall compensate the acquirer or transferee of the Beneficiary Securities for the damages caused thereby.
Articles 369-1 to 369-3, Article 369-9, and Article 369-11 of the Company Act shall apply to the scope of "affiliated enterprises" as referred to in paragraph 4. |
| Article 10 |
（Items to be specified in asset trust securitization plans）
The asset trust securitization plan shall contain the following:
1. name and address of the Originator;
2. duration of the SPT contract;
3. variety, name, quantity, amount, average yield, expiry, and trust period of the trust property;
4. following matters related to the Beneficiary Securities:
(1) the distribution method of the principal of the trust property and the profits, interest, and other proceeds accrued therefrom.
(2) Principal Holding, Profits Holding, priority of distribution and duration of Beneficiary Securities with different types or durations.
5. methods of managing and disposing of the trust property, and the name of the Servicer appointed to manage and dispose of the trust property;
6. powers and duties of the Trustee and the Trust Supervisor;
7. matters regarding borrowed money and expenses made or incurred for the SPT business;
8. relevant proof of credit rating or credit enhancement, if any;
9. evaluation method, basic assumptions, and expert opinions regarding the trust property; and
10. other matters as required by the competent authority. |
| Article 11 |
（Documents required for changes in asset trust securitization plans）
After the issue of Beneficiary Securities, the Trustee shall not alter the asset trust securitization plan unless approved by a resolution of the beneficiaries' meeting and approved by or effectively registered with the competent authority; provided, that if the proposed alternations have no significant influence on the rights and interests of the beneficiaries, such alterations may be made after approved by or effectively registered with the competent authority.
With regard to the approval or registration as referred to in the preceding paragraph, an application shall be filed or a registration shall be made, clearly stating the contents and reasons for the alternations and attaching the following documents:
1. comparison tables of the asset trust securitization plan before and after the alternations;
2. journals of the beneficiaries' meeting which can be exempted if the proviso of the preceding paragraph shall apply;
3. evaluation and experts' opinions as to whether the alternations would have a significant influence on the rights and interests of the beneficiaries; and
4. other documents as required by the competent authority. |
| Article 12 |
（Submit liquidation book and report）
The Trustee shall submit the liquidation statement and report regarding the asset trust securitization plan to the competent authority within thirty (30) days after the implementation of said plan is complete. |
| Article 13 |
（Items specified in special purpose trust contracts）
A SPT contract shall contain the following:
1. purpose of the trust;
2. duties of the trustor and matters of which the Trustee shall be informed;
3. matters regarding reimbursement of expenses and damage compensation to the Trustee;
4. the Trustee's remuneration and its variety, calculation method, and payment timing and method;
5. methods of announcement as prescribed under Article 5, paragraph 1 hereof;
6. methods of managing and disposing of the trust property and the name of the Servicer appointed to manage and dispose of said property by the Trustee, if any;
7. methods of distributing the principal of the trust property or the profits, interests and other proceeds accrued therefrom;
8. Principal Holding, Profits Holding, priority of distribution and duration of Beneficiary Securities with different types or durations;
9. methods of issuing Beneficiary Securities and the transfer restrictions;
10. matters regarding borrowed money, expenses incurred, and application of idle funds when the Trustee handles the trust affairs;
11. causes requiring the Trustee to convene a beneficiaries' meeting;
12. causes requiring the Trustee to appoint a Trust Supervisor and the criteria of his/her professional knowledge or experience; and
13. other matters prescribed under Article 19, paragraph 1 of the Trust Enterprise Act and by the competent authority. |
| Article 14 |
（Scope of idle funds utilization）
The Trustee shall not borrow money with the trust property, unless otherwise provided for in the asset trust securitization plan.
The purpose of borrowing money as provided in the asset trust securitization plan described in the preceding paragraph shall be limited to the distribution of profits, interests or other proceeds.
The utilization of idle funds in the trust property of a SPT shall be limited to the following:
1. bank deposits;
2. purchase of government bonds or financial bonds;
3. purchase of treasury bills or negotiable certificates of time deposits;
4. purchase of commercial papers with a credit rating above a certain level or guaranteed or accepted by banks with a rating above the level stipulated by the competent authority; or
5. other utilizations approved by the competent authority. |