Regulations Governing the Public Offering or Private Placement of REIT and REAT Beneficiary Securities by a Trustee Article 21
After obtaining an application approval or effective registration for private placement or additional private placement of beneficiary securities, a trustee shall proceed in accordance with the following provisions:1.It shall begin to collect payment and provide an investment memorandum to the subscribers or purchasers within thirty (30) days from the date on which the notice of application approval or effective registration is served; provided that those with legitimate reason may file with the Competent Authority for an extension, which shall be limited to one time.2.When collecting payments from subscribers or purchasers, it shall establish a dedicated bank account under the name of the trustee and the current REIT fund or REAT plan.3.A trustee that privately places beneficiary securities and is not concurrently operated by a bank shall retain a financial institution to collect payments on its behalf, and shall enter into a payment collection agreement with the retained financial institution prior to beginning payment collection.4.Within fifteen (15) days from the date on which payment has been completed, the trustee shall submit to the Competent Authority for recordation a proof of deposit certificate and a written opinion issued by a lawyer stating that the current private placement has not been materially discrepant from the content of the REIT plan or REAT plan at the time the trustee applied for approval or effective registration.5.In addition to submitting the documentation required in the preceding paragraph, a trustee that privately places an REAT shall also submit to the Competent Authority for recordation a written opinion issued by a lawyer stating that the registration of trust property transfer is completed and is free of defect.6.The trustee shall issue the beneficiary securities to the subscribers or purchasers within thirty (30) days from the date on which the private placement is completed.7.A trustee that privately places REAT beneficiary securities may not remit funds from the private placement to the trustor before the trustor has completed the registration of the trust transfer.
中文原文 受託機構募集或私募不動產投資信託或資產信託受益證券處理辦法第21條
受託機構私募或追加私募受益證券，經申請核准或申報生效後，應依照下列規定辦理：
一、應於申請核准或申報生效通知到達之日起三十日內開始收取價款，並向應募人或購買人提供投資說明書。
但有正當理由得報經主管機關展延，並以一次為限。
二、向應募人或購買人收取價款時，應以受託機構及該次不動產投資信託基金或不動產資產信託計畫名義開立專戶存儲。
三、非由銀行兼營之受託機構私募受益證券，應委託金融機構代收價款，並於價款開始收取前，與代收價款金融機構訂立委託代收價款合約書。
四、受託機構應於價款繳納完成日起十五日內，檢附存款證明及律師出具該次私募與受託機構申請核准或申報生效時之不動產投資信託計畫或不動產資產信託計畫內容無重大差異之意見書，報請主管機關備查。
五、受託機構私募不動產資產信託除應出具前款規定之書件外，另應由律師出具信託財產移轉登記已完成且無瑕疵之意見書函報主管機關備查。
六、受託機構應於私募完成日起三十日內，對應募人或購買人交付受益證券。
七、受託機構私募不動產資產信託，於委託人尚未完成信託移轉登記前，不得交付私募款項予委託人。
一、應於申請核准或申報生效通知到達之日起三十日內開始收取價款，並向應募人或購買人提供投資說明書。
但有正當理由得報經主管機關展延，並以一次為限。
二、向應募人或購買人收取價款時，應以受託機構及該次不動產投資信託基金或不動產資產信託計畫名義開立專戶存儲。
三、非由銀行兼營之受託機構私募受益證券，應委託金融機構代收價款，並於價款開始收取前，與代收價款金融機構訂立委託代收價款合約書。
四、受託機構應於價款繳納完成日起十五日內，檢附存款證明及律師出具該次私募與受託機構申請核准或申報生效時之不動產投資信託計畫或不動產資產信託計畫內容無重大差異之意見書，報請主管機關備查。
五、受託機構私募不動產資產信託除應出具前款規定之書件外，另應由律師出具信託財產移轉登記已完成且無瑕疵之意見書函報主管機關備查。
六、受託機構應於私募完成日起三十日內，對應募人或購買人交付受益證券。
七、受託機構私募不動產資產信託，於委託人尚未完成信託移轉登記前，不得交付私募款項予委託人。