Regulations Governing Management and Utilization of Collective Investment Trust Funds Article 25

A trust enterprise shall prepare separate account books for each collective trust account and include therein the accounting process; the trust enterprise shall also, on a regular basis, produce a report on the account.Within 4 months following the conclusion of each fiscal year, a trust enterprise shall prepare a final accounts report on the trust assets held in each collective trust account, and, after such report is certified by a certified public accountant, submit same to the Trust Association for reporting to the competent authority and notify the trustors and beneficiaries. A trust enterprise shall also prepare monthly reports within 10 business days after the end of each month and submit same to the Trust Association for reporting to the competent authority.The formats for final accounts report and monthly report referred to in the preceding paragraph shall be prescribed by the Trust Association and submitted to the competent authority for recordation.Where the terms and conditions provide for a trust supervisor, the final accounts report referred toin Paragraph 2 hereof shall first be acknowledged by such supervisor.