Regulations Governing Concurrent Conduct of Trust Business by Securities Investment Trust Enterprises, Securities Investment Consulting Enterprises, and Securities Firms Article 12

If the business or financial conditions of a SITE, SICE, or securities firm that conducts concurrently specific types of trust business deteriorate so significantly that it might not be unable to pay its debts or that the interests of trustors or beneficiaries might be adversely affected, the competent authority may revoke its permit to conduct concurrently trust business.If a SITE, SICE, or securities firm that conducts concurrently specific types of trust business becomes unable to continue the business due to dissolution, close-down, suspension of business, or revocation or repeal of permit, the SITE, SICE, or securities firm shall contact other trust enterprises to assume its trust business, subject to the approval of the competent authority.The assumption of trust business (by another trust enterprise) mentioned in the preceding paragraph shall be agreed upon in the trust agreement and consult the opinion of the beneficiaries. Where a beneficiary dissents to the assumption of trust business or does not indicate assent or dissent, the trust agreement signed with the beneficiary is deemed terminated.