Regulations Governing Securities Investment Trust Funds Article 52
Offerees and subscribers of a privately placed fund may not, except under one of the following circumstances, re-sell certificates of beneficial interest:1. When making application to a SITE for redemption.2. When making assignment to an entity with the qualifications under Article 11, paragraph 1 of the Securities Investment Trust and Consulting Act.3. When making a valid transfer under applicable laws and regulations.4. Other circumstances where approval is granted by the FSC.The restriction on assignments under the preceding paragraph shall be set out in conspicuous text on the beneficiary certificate, and shall also be noted in the related documents delivered to the offeree or subscriber.
中文原文 證券投資信託基金管理辦法（93.10.30 訂定）第52條
私募基金之應募人及購買人除有下列情形之一者外，不得再行賣出：
一、向證券投資信託事業申請買回。
二、轉讓予符合本法第十一條第一項具相同資格。
三、基於法律規定所生效力之移轉。
四、其他經本會核准。
前項有關私募受益憑證轉讓之限制，應於受益憑證以明顯文字註記，並於交付應募人或購買人之相關書面文件中載明。
一、向證券投資信託事業申請買回。
二、轉讓予符合本法第十一條第一項具相同資格。
三、基於法律規定所生效力之移轉。
四、其他經本會核准。
前項有關私募受益憑證轉讓之限制，應於受益憑證以明顯文字註記，並於交付應募人或購買人之相關書面文件中載明。