Regulations for Management, Utilization, and Supervision of the National Pension Insurance Fund Article 6

The utilization of the Fund may be extended to:1. Deposits kept at domestic/foreign financial institutions;2. Investment in domestic/foreign bonds/security;3. Investment in domestic/foreign equity security traded or underwritten in stock exchange markets or over-the-counter markets (hereinafter referred to as the “equity security”);4. Investment in security investment trust fund or futures trust fund beneficiary certificates issued or managed by domestic fund management institutions (hereinafter referred to as domestic funds);5. Investment in beneficiary certificates, fund shares, or investment units issued or managed by foreign fund management institutions (hereinafter referred to as the “offshore funds”);6. Investment in domestic/foreign asset securitization products;7. Investment in financial derivatives referred to in subparagraphs 1-3 and the preceding subparagraph, and other financial derivatives;8. Engagement in lending and trading marketable security;9. Loans to governments at various levels for undertaking economic constructions or investment expenditures with compensation or repayable by budgeting on a year-by-year basis;10. Other utilization activities beneficial to the return of the Fund examined by the Supervisory Commission, and reported to and approved by the Ministry of Health and Welfare.Where the utilization of the Fund referred to in the subparagraphs of the preceding paragraph is involved in the territories of Mainland China, Hong Kong, or Macao,compliance with the relevant laws and regulations formulated by competent financial authorities or other relevant authorities shall be required.