| Chapter 4 Standards of Practice for Collective Trust Fund Business |
Section 3 Accounting of Collective Trust Funds |
| Article 30 |
A trust enterprise shall establish a trust asset evaluation committee that shall evaluate the investment status of the collective trust fund at least once every three months, and report it to the board of directors.
A trust enterprise shall notify the beneficiaries in writing of the investment status and evaluation findings referred to in the preceding paragraph and report same to the trust supervisors. |
| Article 31 |
A collective trust fund shall have independent accounting, and a trust enterprise shall not commingle it in use with its own assets or with other trust assets.
Account books relating to a collective trust fund shall be prepared in compliance with applicable laws and regulations and self-regulatory rules, and the books shall be preserved in a manner and for a period in accordance with the Business Accounting Act and applicable regulations.
A trust enterprise shall compile the following statements regarding the utilization and management of a collective trust fund:
1. Balance sheet;
2. Income and expenditure statement;
3. Statement of distributions of proceeds;
4. Statement of changes in capital account; and
5. Asset inventory.
By the 10th day of each month, a trust enterprise shall prepare the statements specified in the preceding paragraph for the preceding month, and file them with the Trust Association for the Trust Association to compile and produce statistical data.
Within 2 months after the end of the fiscal half-year, and again within 4 months after the end of the fiscal year, a trust enterprise shall file a collective trust fund business report, the statements specified in paragraph 3 hereof, and a final accounts report for the preceding fiscal year audited and certified by a certified public accountant, with the competent authority for recordation and send them to the beneficiaries, and publish its balance sheet in a manner prescribed in Article 39 of the Act.
The business report, statements, and final accounts report referred to in the preceding paragraph shall be submitted to and acknowledged by the trust supervisors before being submitted to the competent authority for recordation. |
| Article 32 |
Where the utilization of a collective trust fund involves short-term bills or government bonds, a trust enterprise shall, prior to the 10th day of each month, file a report regarding the short-term bill or government bond transaction data for the preceding month in a format prescribed by the Central Bank.
For foreign currency denominated collective trust funds that are offered overseas for investment in Taiwan or offered in Taiwan for overseas investment, a trust enterprise shall report relevant data in a format and in a manner prescribed by the Central Bank. |