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| Article 1 |
These Regulations are adopted pursuant to Article 36 of the Trust Enterprise Act (the "Act"). |
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| Article 2 |
In carrying out collective management and employment of trust funds as contemplated in Article 28 of the Act, a trust enterprise shall maintain appropriate liquidity. The scope of its holdings regarded as current assets is as follows:
1.Cash and cash in banks.
2.Government bonds.
3.Short-term bills.
4.Other assets for which the Ministry of Finance, in consultation with the Central Bank, has granted consent. |
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| Article 3 |
In carrying out collective management and employment of trust funds as contemplated in Article 28 of the Act, the current assets held by a trust enterprise in accordance with the provisions of Article 2 shall account for no less than 5 percent of the net asset value of any given collectively managed trust account.
Where a trust enterprise fails to reach the ratio set forth in the preceding paragraph, it shall make adjustments forthwith. |
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| Article 4 |
The Ministry of Finance may as necessary and after consultation with the Central Bank adjust the ratio adopted in paragraph 1 of the preceding article. |
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| Article 5 |
These Regulations shall enter into force from the date of promulgation. |