|
|
| Article 1 |
These Regulations are adopted pursuant to Article 32, paragraph 2, of the Trust Enterprise Act. |
|
|
| Article 2 |
The expression "money trust in which the operational scope and method are not designated" (hereinafter, "discretionary money trust") as used herein means discretionary individually managed money trusts and discretionary collectively managed money trusts. |
|
|
| Article 3 |
A trust enterprise may operate discretionary money trusts only within the business scope set out in the following subparagraphs:
1.Cash and bank deposits.
2.Investments in government bonds, corporate bonds, and financial bonds.
3.Investments in short-term bills.
4.Other business activities approved by the Ministry of Finance.
The bank deposits under the preceding paragraph shall be placed with a financial institution rated not less than a certain level by a credit rating institution recognized by the Ministry of Finance.
The corporate bonds and short-term bills under paragraph 1 shall be guaranteed or honored by a financial institution rated not less than a certain credit level by a credit rating institution recognized by the Ministry of Finance; for those not being so guaranteed or honored, the issuer shall be rated not less than a certain level by a credit rating institution recognized by the Ministry of Finance.
The term "financial bonds" in paragraph 1 means financial bonds issued by a financial institution rated not less than a certain level by a credit rating institution recognized by the Ministry of Finance and bonds issued in Taiwan by an international financial organization approved by the Central Bank and the Ministry of Finance. |
|
|
| Article 4 |
The amount limits on the business activities in the preceding article are as follows:
1.For discretionary money trusts placed under the management of a trust enterprise, the sum of deposits in any single financial institution and investments in financial bonds issued thereby and in corporate bonds and short-term bills guaranteed or honored thereby may not exceed 10 percent of the total net asset value on the investment date of the discretionary money trusts under its management, or 10 percent of the financial institution's net worth.
2.For discretionary money trusts placed under the management of a trust enterprise, the sum of investments in corporate bonds and short-term bills issued by a single company may not exceed 5 percent of the total net asset value on the investment date of the discretionary money trusts under its management, or 5 percent of the paid-in capital of the company issuing the corporate bonds and short-term bills.
3.For discretionary individually managed money trusts placed under the management of a trust enterprise, the sum of deposits at a single financial institution and investments in financial bonds issued thereby and in corporate bonds and short-term bills guaranteed or honored thereby may not exceed 20 percent of the total net asset value on the investment date of any given discretionary individually managed money trust; the sum of investments in corporate bonds and short-term bills issued by a single company may not exceed 10 percent of the total net asset value on the investment date of the given discretionary individually managed money trust.
The Trust Association of ROC shall prescribe and report to the Ministry of Finance for ratification the minimum amount of funds required for a trust enterprise to accept the placement under its management of a discretionary individually managed money trust by a trustor. |
|
|
| Article 5 |
When granting approval of "other business activities" under Article 3, paragraph 1, subparagraph 4, the Ministry of Finance shall separately prescribe the scope or method and amount limits for the business activity. |
|
|
| Article 6 |
These Regulations shall enter into force from the date of issuance. |