Article Content
Section 5 Termination of Collective Trust Fund Agreement by Beneficiary
| Article 36 | In case a beneficiary terminates the trust agreement in writing or by other means as agreed, the trust enterprise shall make payment within the payment period stipulated in the trust agreement starting from the next day following the receipt of the termination instruction.
Where a beneficiary requests a partial termination of the agreement, the trust enterprise shall, in addition to making payment on a pro-rata basis by the time period specified in the preceding paragraph, reissue the beneficial securities or change the registration of other documents representing beneficiary rights in the manner stipulated in the agreement. |
| Article 37 | The amount to be paid to a beneficiary that terminates a collective trust fund agreement shall be calculated based on the net value of the fund on the next business day following the date on which the request to terminate the agreement made in writing or by other means as agreed is received by the trust enterprise. However, where the amount to be paid would cause the liquid assets of the fund to drop below the minimum ratio set out in Paragraph 5 of Article 24 herein or is specifically stipulated in the trust agreement, the amount to be paid shall be calculated as stipulated in the collective trust fund agreement. |
| Article 38 | A trust enterprise shall handle a beneficiary's request to terminate the agreement in accordance with the collective trust fund agreement, and may not refuse or delay payment unless otherwise stipulated in the agreement.
Other stipulations of the agreement as referred to in the preceding paragraph may include the following:
1. Where financial, securities, or foreign exchange markets suspend trading for reasons other than regular holidays.
2. Where normal communications are interrupted.
3. Where remittance transactions are restricted.
4. Where other special circumstances submitted to and approved by the competent authority prevent the request to terminate the agreement from being received or the payment from being made. |