Regulations Governing Securities Investment Trust Funds Article 38

In addition to compliance with Article 2, paragraph 1 herein, the securities investment trust agreement for a passive ETF offered by a SITE shall additionally specify matters relating to its trading on a securities exchange market, the methods of subscription and redemption, and important content of the index licensing agreement and the participant agreement, provided that the important content of the index licensing agreement may be omitted in the case of a passive ETF that complies with Article 37, paragraph 4.A SITE offering a passive ETF need not set forth the total face value, total number of beneficiary units, or whether there will be additional future issues.