Regulations Governing the Management of Collective Trust Funds Article 39

When it is necessary to modify a collective trust fund agreement for reasons other than regulatory change, a trust enterprise shall obtain the consent of a majority of the trust supervisors or the adoption of a resolution at a beneficiaries' meeting, and submit the minutes of the trust supervisors meeting or beneficiaries' meeting, a comparison table of the agreement clauses before and after the change, and the reasons for change in a letter to the Trust Association, which shall forward them in a report to the competent authority for approval.After the circumstance described in the preceding paragraph has been approved by the competent authority, the trust enterprise shall immediately make public announcement in a manner prescribed in Article 39 of the Act for a certain time period for the beneficiaries to decide whether to continue to participate in or withdraw from the collective trust fund.