Securities Investment Trust and Consulting Act Article 96

Where a securities investment trust enterprise is unable to continue engaging in securities investment trust fund business because of dissolution, suspension or termination of business, or withdrawal or revocation of its business permission, it shall seek another securities investment trust enterprise to assume that business, subject to the approval of the Competent Authority.When a securities investment trust enterprise is unable to find a successor in accordance with the preceding paragraph, the Competent Authority will designate another securities investment trust enterprise as a successor; the designated securities investment trust enterprise may not refuse unless it reports to and receives approval from the Competent Authority based on a legitimate reason.Where a securities investment trust fund is obviously mismanaged by a securities investment trust enterprise, the Competent Authority may order the enterprise to transfer the fund to the management of another securities investment trust enterprise designated by the Competent Authority.Public announcement of succession or transfer referred to in the preceding three paragraphs shall be made by the successor securities investment trust enterprise.Paragraphs 1 to 3 shall apply mutatis mutandis where a fund custodian is unable to continue engaging in fund custody business because of dissolution, suspension or termination of business, or withdrawal or revocation of its business permission; public announcement of succession or transfer matters thereof shall be made by the securities investment trust enterprise.