Regulations Governing Futures Trust Funds Article 44

A futures trust enterprise shall observe the following conditions in utilizing a futures trust fund offered to unspecified persons for investment in beneficial securities or asset-backed securities publicly offered in accordance with the Financial Asset Securitization Act:1.The investment shall be restricted to public offerings of beneficial securities or asset-backed securities that have been approved by the competent authority or have received effective registration.2.The total amount invested by any fund in beneficial securities or asset-backed securities issued by any single trustee institution or special-purpose company may not exceed ten percent of the total amount of the given issue of beneficial securities or asset-backed securities (or tranche, where the issue is tranched), nor may the investment amount exceed ten percent of the net asset value of the given futures trust fund.3.The total amount invested by any fund in any originator's stocks, corporate bonds, financial bonds, or in the beneficial securities or asset-backed securities issued by the originator through entrusting financial assets to a trustee organization or a special-purpose company may not exceed ten percent of the net asset value of the fund.4.Beneficial securities or asset-backed securities in which a fund invests shall have a credit rating at or above a prescribed level issued by a credit-rating institution approved or recognized by the competent authority.When the futures trust enterprise is an interested company as referred to in Article 51 with respect to either the originator of beneficial securities or asset-backed securities, the trustee organization, or the special-purpose company, the futures trust enterprise may not utilize the fund offered to unspecified persons for investment in those beneficial securities or asset-backed securities.