| Chapter III: Special Purpose Company |
Section I: General Provisions |
| Article 54 |
（Special purpose company）A SPC shall be established by financial institutions, and shall be a company-limited-by-shares with only one shareholder.
The financial institutions as referred to in the preceding paragraph and the Trustee shall not be the same affiliated enterprise.
The financial institutions may form a SPC overseas to engage in the asset securitization business with the approval of the competent authority. The guidelines for granting such approval shall be further prescribed by the competent authority.
A SPC shall expressly show that it is a SPC in its name.
A company that is not a SPC shall not show that it is a SPC in its name or use a name that is easy to make people mistake it for a SPC. |
| Article 55 |
（Applicable scope of special purpose companies）Article 27 of the Company Act shall not apply to the SPC. |