Regulations Governing the Public Offering of Securities Investment Trust Funds by Securities Investment Trust Enterprises Article 7

Within 1 month after a SITE's business license is approved and issued, unless it is an other-industry enterprise concurrently conducting securities investment trust business, it shall apply to publicly offer a securities investment trust fund that complies with the following provisions:1. It is a domestically offered and domestically invested equity-type securities investment trust fund or balanced securities investment trust fund.2. The minimum funding requirement for establishment of the securities investment trust fund is NT$2 billion.3. For a closed-end securities investment trust fund, the beneficial interest unit dispersion standard shall comply with the provisions of the Taiwan Stock Exchange Corporation Rules for Review of Securities Listings.4. For an open-ended securities investment trust fund, beneficiaries may not commence application for redemption until 3 months after the date on which the fund was established.After submitting an application (or filing) to offer a securities investment trust fund and obtaining application approval (or effective registration), the SITE shall commence the offering within 6 months after the date on which it receives written notification of approval or effective registration, and establish the fund within 30 days thereafter, provided that if for a legitimate reason the SITE is unable to commence the offering within 6 months, prior to the deadline it may apply to the FSC for a one-time extension not to exceed 6 months.