Regulations Governing Futures Trust Enterprises Article 38

If a futures trust enterprise is unable to continue its business operations related to a futures trust fund because of bankruptcy, dissolution, suspension or closure of business, or voidance or revocation of its business permission, it shall arrange for another futures trust enterprise to succeed to its business operations related to the futures trust fund, subject to the approval of the competent authority.If a futures trust enterprise fails to take the action under the preceding paragraph, the competent authority may designate another futures trust enterprise as successor; the designated futures trust enterprise may not refuse such designation unless it reports to and receives approval from the competent authority based on a legitimate reason.If there is obvious mismanagement of a futures trust fund on the part of a futures trust enterprise, the competent authority may order the enterprise to transfer the fund to be managed by another futures trust enterprise designated by the competent authority.In the event of any succession or transfer under any of the preceding three paragraphs, the successor futures trust enterprise shall make a public notice.Before the competent authority makes a designation or order under paragraph 2 or 3 above, arrangements for another futures trust enterprise to be successor may be coordinated through the Association.