| Article 108 |
（Penalties）
Under any of the following circumstances, the responsible person(s) for such act shall be punished with imprisonment for not less than one (1) year and not more than seven (7) years, and a criminal fine of not more than Ten Million New Taiwan Dollars (NT$10,000,000):
1. an enterprise not qualified as a Trustee as provided for in Article 4, Paragraph 2 hereof serves as a Trustee and issues Beneficial Securities;
2. the Trustee issues Beneficial Securities without the approval of or effective registration with the competent authority, in violation of Article 9, Paragraph 2 hereof; or
3. a person issues Asset-Backed Securities without the approval of or effective registration with the competent authority, in violation of Article 73, Paragraph 2 hereof. |
| Article 109 |
（Penalties）
In case of occurrence of any of the following events and such occurrence causes damages to the public, other persons, trust property or transferred Assets, the responsible person(s) for such act shall be punished with imprisonment for not less than six (6) months and not more than five (5) years, and a criminal fine of not more than Three Million New Taiwan Dollars (NT$3,000,000):
1. any document submitted in accordance with Article 9, Paragraph 1 hereof contains false statements or concealments;
2. any document or information provided by the Originator to the Trustee contains false statements or concealments, in violation of Article 9, Paragraph 4 hereof;
3. major content of the prospectus or investment memorandum as provided in accordance with Article 17, Paragraph 1 or Paragraph 3 hereof contains false statements or concealments;
4. when executing the resolution of a beneficiaries' meeting, the Trust Supervisor or the person appointed by a beneficiaries' meeting in accordance with Article 27, Paragraph 1 hereof causes any damage to the trust property due to acts against his/her duties having the intention of acquiring illegal profits for his/her own or a third party;
5. violation of Article 36, Paragraph 2 hereof;
6. any document submitted in accordance with Article 73, Paragraph 1 contains false statements or concealments;
7. any document or information provided by the Originator to the SPC contains false statements or concealments, in violation of Article 9, Paragraph 4 hereof;
8. violation of Article 91, Paragraph 2;
9. major content of the prospectus or investment memorandum contains false statements or concealments, in violation of Article 101 referring to the mutatis mutandis application of Article 17, Paragraph 1 or 3 hereof; or
10. having false statements or concealments in violation of Article 104 hereof. |
| Article 110 |
（Penalties）
Under any of the following circumstances, the responsible person(s) for such act shall be punished with imprisonment for not more than three (3) years or detention, and/or a criminal fine of not more than Three Million New Taiwan Dollars (NT$3,000,000):
1. Beneficial Securities are publicly offered to non-specific people, in violation of Article 17, Paragraph 2 or Paragraph 5 hereof referring to the mutatis mutandis application of Article 17, Paragraph 2 hereof; or
2. Asset-Backed Securities are publicly offered to non-specific people, in violation of Article 101 hereof referring to the mutatis mutandis application of Article 17, Paragraph 2 or Paragraph 5 hereof. |
| Article 111 |
（Penalties）
Under any of the following circumstances, the responsible person(s) for such act shall be punished with imprisonment for not more than one (1) year or detention, and/or a criminal fine of not more than Three Million New Taiwan Dollars (NT$3,000,000):
1. the prospectus or investment memorandum is not provided in accordance with the method prescribed by the competent securities authority or the competent authority, in violation of Article 17, Paragraph 1 or Paragraph 3 hereof; or
2. the prospectus or investment memorandum is not provided in accordance with the method prescribed by the competent securities authority or the competent authority, in violation of Article 101 hereof referring to the mutatis mutandis application of 17, Paragraph 1 or Paragraph 3 hereof. |
| Article 112 |
（Penalties）
Any of the following events shall be subject to an administrative fine of not less than Two Million New Taiwan Dollars (NT$2,000,000) and not more than Ten Million New Taiwan Dollars (NT$10,000,000):
1. violation of Article 11, Paragraph 1 hereof;
2. violation of Article 14 hereof;
3. the Trust Supervisor fails to attend a beneficiaries' meeting without justified reasons, in violation of Article 23, Paragraph 2 hereof;
4. the Trust Supervisor fails to attend a meeting of certain type of beneficiaries without justified reasons, in violation of Article 26, Paragraph 4 hereof;
5. violation of Article 28, Paragraph 2 hereof;
6. a person serves as a Trust Supervisor, in violation of Article 30 hereof;
7. the Trust Supervisor refuses to exercise its rights for the beneficiaries without justified reason, in violation of Article 31, Paragraph 2 hereof;
8. violation of Article 87 hereof; or
9. violation of Article 101 hereof referring to the mutatis mutandis application of Article 11 Paragraph 1 hereof. |
| Article 113 |
（Penalties）
Any of the following events shall be subject to an administrative fine of not less than One Million New Taiwan Dollars (NT$1,000,000) and not more than Five Million New Taiwan Dollars (NT$5,000,000):
1. failing to register with the competent authority within the prescribed time, in violation of Article 12 hereof;
2. failing to deliver the written notice within the prescribed time, in violation of Article 28, Paragraph 3 hereof;
3. violation of Article 34, Paragraph 1 hereof;
4. violation of Article 35, Paragraph 1 or Paragraph 2 hereof;
5. rejecting the requests, in violation of Article 42, Paragraph 2 hereof;
6. violation of Article 48, Paragraph 1 hereof;
7. violation of Article 84, Paragraph 1 or Paragraph 3 hereof;
8. failing to register with the competent authority within the prescribed time, in violation of Article 101 hereof referring to the mutatis mutandis application of Article 12 hereof; or
9. rejecting the requests, in violation of Article 101 hereof referring to the mutatis mutandis application of Article 42, Paragraph 2 hereof. |
| Article 114 |
（Penalties）
Any of the following events shall be subject to an administrative fine of not less than Six Hundred Thousand New Taiwan Dollars (NT$600,000) and not more than Three Million New Taiwan Dollars (NT$3,000,000):
1. violation of Article 9, Paragraph 3 hereof;
2. failing to report to the Trust Supervisor, in violation of Article 36, Paragraph 1 hereof;
3. violation of Article 37 hereof;
4. failing to report to the Supervisory Institution, in violation of Article 91, Paragraph 1 hereof;
5. any act of evading, refusing, or impeding the inspection to be conducted by the competent authority under Article 105, Paragraph 1, or failing to submit the requested information or reports within the prescribed time;
6. violating any disposition made by the competent authority pursuant to Article 106, Paragraph 1 or Paragraph 2 hereof or any disposition made by the competent authority when applying Article 44 of the Trust Enterprise Act mutatis mutandis; or
7. failing to register or make announcements pursuant to Article 107, Paragraph 1 hereof referring to the mutatis mutandis application of Article 41 of the Trust Enterprise Act, or failing to deliver notice pursuant to Article 107, Paragraph 2 hereof, or failing to report, make announcements or deliver notice pursuant to Article 107, Paragraph 3 hereof. |
| Article 115 |
（Penalties）
Unless otherwise provided for in this Act or relevant tax laws, any violation of the mandatory or prohibitive provisions of this Act or of any regulations prescribed under the authorization of this Act shall be subject to an administrative fine of not less than Six Hundred Thousand New Taiwan Dollars (NT$600,000) and not more than Three Million New Taiwan Dollars (NT$3,000,000). |
| Article 116 |
（Penalties）
Where the responsible person, agent, employee, or other staff of a juristic person violates the provisions of this Act in the course of performing his/her duties, in addition to punishing such person(s) pursuant to the provisions of this chapter, a criminal fine or an administrative fine in the amount as prescribed in each article shall also be imposed upon such juristic person. |
| Article 117 |
（Compulsory execution）
In case of any failure to pay an administrative fine imposed in accordance with this Act within the prescribed time, a surcharge for late payment shall be levied, calculated at the rate of one (1) percent of the fine for each day of delay, starting from the first day of delay.
If the fine is not paid within thirty (30) days after the expiry of the prescribed time, compulsory execution shall be sought. |