Clauses of the Real Estate Securitization Act Article 22
The Trustee shall ask a Professional Appraiser for an appraisal report pursuant to the Real Estate Appraiser Act prior to utilizing the REIT Funds for the trade of real estate or related rights of real estate for the above certain amount prescribed by the competent authority.The competent authority of real estate appraisal or the Real Estate Appraiser Association shall prescribe a standard for the appraisal report as referred to in the preceding paragraph.The Trustee shall be in compliance with the following provisions when appointing Professional Appraisers for appraisal reports:1. the same trade with the amount of over Thirty Million New Taiwan Dollars (NT$ 300,000,000) shall be appraised by more than two Professional Appraisers. Provided that there is a more than 20% difference among the price appraisals of the professional appraisers on the same date, the Trustee shall proceed pursuant to Article 41 of the Real Estate Appraiser Act;2. with regard to the appraisal prior to the effective date of the trade contract, the interval between the date of value and the effective date of the contract shall not be over six (6) months;3. the Professional Appraiser and appraising personnel shall not be related parties or substantively related parties, as prescribed in Number 6 of the Financial Accounting Standards Gazette, to the trading parties.4. other matters prescribed by the competent authority of real estate appraisal.With regard to the trading action as referred to in paragraph 1 hereof, the Trustee shall make an announcement in the daily local newspapers circulated at the place of its principal office or in other ways prescribed by the competent authority within two (2) days after the contract takes effect.
中文原文 不動產證券化條例第22條
受託機構運用不動產投資信託基金進行達主管機關規定之一定金額以上之不動產或不動產相關權利交易前，應先洽請專業估價者依不動產估價師法規定出具估價報告書。
不動產估價主管機關或不動產估價師公會應就前項之估價報告書，訂定估價報告書範本。
受託機構委請專業估價者出具估價報告書時，應符合下列規定：
一、同一宗交易金額達新臺幣三億元以上者，應由二位以上之專業估價者進行估價。
若專業估價者間在同一期日價格之估計達百分之二十以上之差異，受託機構應依不動產估價師法第四十一條規定辦理。
二、交易契約成立日前估價者，其價格日期與契約成立日期不得逾六個月。
三、專業估價者及其估價人員應與交易當事人無財務會計準則公報第六號所定之關係人或實質關係人之情事。
四、其他不動產估價主管機關規定之事項。
第一項之交易行為，應於契約生效日起二日內，於受託機構本機構所在地之日報或依主管機關規定之方式辦理公告。
不動產估價主管機關或不動產估價師公會應就前項之估價報告書，訂定估價報告書範本。
受託機構委請專業估價者出具估價報告書時，應符合下列規定：
一、同一宗交易金額達新臺幣三億元以上者，應由二位以上之專業估價者進行估價。
若專業估價者間在同一期日價格之估計達百分之二十以上之差異，受託機構應依不動產估價師法第四十一條規定辦理。
二、交易契約成立日前估價者，其價格日期與契約成立日期不得逾六個月。
三、專業估價者及其估價人員應與交易當事人無財務會計準則公報第六號所定之關係人或實質關係人之情事。
四、其他不動產估價主管機關規定之事項。
第一項之交易行為，應於契約生效日起二日內，於受託機構本機構所在地之日報或依主管機關規定之方式辦理公告。