Regulations Governing Futures Trust Funds Article 45
A futures trust enterprise shall observe the following conditions in utilizing a futures trust fund offered to unspecified persons for investment in the beneficial securities of a real estate investment trust fund or a real estate asset trust offered in accordance with the Real Estate Securitization Act:1.The fund shall be restricted to investment in the beneficial certificates of a closed-end real estate investment trust fund or a real estate asset trust approved by the competent authority.2.The total investment by any fund in real estate investment trust fund beneficial units issued by any single trustee institution may not exceed ten percent of the beneficial units already issued.3.The total investment by any such fund in real estate asset trust beneficial securities issued by any single trustee institution may not exceed ten percent of the total value of the given issue (or tranche, where the issue is tranched).4.The total investment by any fund in the real estate asset trust beneficial securities and real estate investment trust fund beneficial securities issued by any single trustee institution may not exceed ten percent of the total asset value of the fund.5.The total amount invested by any fund in the real estate asset trust beneficial securities issued by any single principal through entrusting real estate assets to a trustee organization, the beneficial securities or asset-backed securities issued by that principal through entrusting financial assets to a trustee organization or a special-purpose company, and the stocks, corporate bonds, or financial bonds issued by that principal may not exceed 10 percent of the net asset value of the fund.6.The beneficial securities of the real estate investment trust fund or real estate asset trust 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 the trustee institution of a real estate investment trust fund beneficial security, or with respect to the principal or trustee institution of a real estate assets trust beneficial security, the futures trust enterprise may not utilize the fund offered to unspecified persons for investment in those beneficial securities of real estate investment trust fund or real estate assets trust.
中文原文 期貨信託基金管理辦法第45條
期貨信託事業運用對不特定人所募集之期貨信託基金投資於依不動產證券化條例募集之不動產投資信託基金受益證券或不動產資產信託受益證券時，應遵守下列規定：
一、以經主管機關核准募集之封閉型不動產投資信託基金受益證券或不動產資產信託受益證券為限。
二、每一基金投資於任一受託機構發行之不動產投資信託基金之受益權單位總數，不得超過該不動產投資信託基金已發行受益權單位總數之百分之十。
三、每一基金投資於任一受託機構發行之不動產資產信託受益證券之總額，不得超過該受託機構該次（如有分券指分券後）發行之不動產資產信託受益證券總額之百分之十。
四、每一基金投資於任一受託機構發行之不動產投資信託基金受益證券及不動產資產信託受益證券之總金額，不得超過該基金淨資產價值之百分之十。
五、每一基金投資於任一委託人將不動產資產信託與受託機構發行之不動產資產信託受益證券、將金融資產信託與受託機構或讓與特殊目的公司發行之受益證券或資產基礎證券，及其所發行之股票、公司債、金融債券之總金額，不得超過本基金淨資產價值之百分之十。
六、所投資之不動產投資信託基金受益證券或不動產資產信託受益證券應符合經主管機關核准或認可之信用評等機構評等達一定等級以上者。
期貨信託事業與不動產投資信託基金受益證券之受託機構或不動產資產信託受益證券之委託人或受託機構具有第五十一條所稱利害關係公司之關係者，期貨信託事業不得運用對不特定人募集之基金投資於該不動產投資信託基金受益證券或不動產資產信託受益證券。
一、以經主管機關核准募集之封閉型不動產投資信託基金受益證券或不動產資產信託受益證券為限。
二、每一基金投資於任一受託機構發行之不動產投資信託基金之受益權單位總數，不得超過該不動產投資信託基金已發行受益權單位總數之百分之十。
三、每一基金投資於任一受託機構發行之不動產資產信託受益證券之總額，不得超過該受託機構該次（如有分券指分券後）發行之不動產資產信託受益證券總額之百分之十。
四、每一基金投資於任一受託機構發行之不動產投資信託基金受益證券及不動產資產信託受益證券之總金額，不得超過該基金淨資產價值之百分之十。
五、每一基金投資於任一委託人將不動產資產信託與受託機構發行之不動產資產信託受益證券、將金融資產信託與受託機構或讓與特殊目的公司發行之受益證券或資產基礎證券，及其所發行之股票、公司債、金融債券之總金額，不得超過本基金淨資產價值之百分之十。
六、所投資之不動產投資信託基金受益證券或不動產資產信託受益證券應符合經主管機關核准或認可之信用評等機構評等達一定等級以上者。
期貨信託事業與不動產投資信託基金受益證券之受託機構或不動產資產信託受益證券之委託人或受託機構具有第五十一條所稱利害關係公司之關係者，期貨信託事業不得運用對不特定人募集之基金投資於該不動產投資信託基金受益證券或不動產資產信託受益證券。