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Definition of the Phrase "a Trust Enterprise Shall Disclose…in Accordance with Instructions" Under the Trust Enterprise Act
(19 August 2004)
Letter Ref. Jin-Kuan-Yin-(IV)-0934000590
Subject:
The phrase "disclose [or make an announcement]…in accordance with the instructions of the Competent Authority" in Articles 39 and 41 of the Trust Enterprise Act means that a trust enterprise shall disclose [or make announcement] in the manner specified in point 2 of the Statement below. Please be advised and inform all member institutions.
Statement:
1.This is in response to the letter dated 28 May 2004 (ref. Jhong-Tuo-Ye-930213) sent by the Trust Association of R.O.C. to the Ministry of Finance regarding the Association's completed installation of a website for purposes of disclosing information as required under the Trust Enterprise Act and the Financial Asset Securitization Act. Because the Bureau of Monetary Affairs was transferred to the jurisdiction of the Financial Supervisory Commission on 1 July of this year (2004), the present letter is issued in the name of the Financial Supervisory Commission.
2.The phrase "disclose … [or make an announcement] in accordance with the instructions of the Competent Authority" in Articles 39 and 41 of the Trust Enterprise Act means that a trust enterprise shall disclose [or make announcement] in the following manner:
1.Make the information available in a prominent location at all places of business of the trust enterprise for public review and reference.
2.Submit the information by letter to the Trust Association for public review and reference.
3.Disclose/announce the information on the Trust Association's website.
3.The above instructions shall apply to a trust enterprise beginning from its publication of the year-end balance sheet for the year 2004 in accordance with Article 39 of the Trust Enterprise Act.
4.The Letter Ref. Tai-Tsai-Rong-(IV)-90725300 announced by the Ministry of Finance on 16 January 2001 is repealed from and after the present day. |