Trust Enterprise Act Article 3

If a bank concurrently engages in trust businesses with the approval of the competent authority, the provisions of this Act shall apply.Securities investment trust enterprises and securities investment consulting enterprises which respectively, conduct specific items of a trust business concurrently to their other businesses pursuant to the Securities Investment Trust and Consulting Act and meet certain requirements, or securities firms which concurrently conduct specific items of trust businesses shall apply to the Competent Authority for approval before they are subject to provisions of the Act other than Articles 10 through 15, Articles 38 through 40 and Article 43 of the said Act.The Competent Authority shall determine the scope of specific items of a trust business mentioned in the preceding paragraph, qualification requirements for obtaining approval of the application mentioned in the said paragraph from the Competent Authority, circumstances that prevent the application from being approved by the Competent Authority and circumstances that make the said authority annul the permit, financial affairs, business management and other regulations which shall be complied with.