| Chapter Four Issue, Delivery and Transfer of Beneficial Securities, Beneficiaries’meetings |
Section Two Beneficiaries’ Meetings and Trust Supervisors |
| Article 47 |
（Regulations that apply mutatis mutandis to beneficiary securities）Article 20, provisions in Section 3 of Chapter 2, and Article 42 of the Financial Asset Securitization Act shall apply mutatis mutandis to beneficiary securities issued or delivered through real estate securitization, unless it is otherwise provided for in the trust contract and stated in the prospectus or investment memorandum. |
| Article 48 |
（Election of the trust supervisor）To protect the rights and interests of the beneficiaries, a trustee may appoint a trust supervisor pursuant to the REIT contract or REAT contract and apply, mutatis mutandis, Paragraphs 2 and 3 of Article 28, Article 29, and Articles 31 to 33 of the Financial Asset Securitization Act.
The trust supervisor shall not be the promoter or an interested party, staff, or employee of the trustee, or the trustor of the REAT. |