Regulations Governing Futures Trust Funds Article 15

Any futures trust enterprise, except when operated concurrently by an enterprise in another line of business, shall apply to offer a futures trust fund within one month after being issued a permission license.When a futures trust enterprise's first application to offer a futures trust fund is for a futures trust fund to be offered to unspecified persons, the fund shall comply with the following provisions:1.The fund shall be domestically offered.2.The minimum amount for establishment of the fund shall be 500 million New Taiwan Dollars.3.Beneficial owners may only apply for redemption a full 45 days after the fund's establishment.Offering of the futures trust fund of paragraph 1 shall commence within six months from the date on which the enterprise receives the letter of approval for the offering, and the fund shall be established within 45 days after offering is begun.A futures trust enterprise that receives approval for a non-first-time application to offer a fund, when the fund is offered to unspecified persons, shall begin the offering within six months from the date on which it receives the letter of approval for the offering, and the fund shall be established with 30 days after offering is begun. When, for legitimate reason, the futures trust enterprise is unable to begin the offering within six months, it may apply to the competent authority for a one-time extension of three months only.