Regulations Governing Foreign Exchange Business of Banking Enterprises Article 17

(Application for Foreign Currency Denominated Collective Investment Trust Account and Foreign Currency Denominated Collective Trust Fund Business)An authorized bank concurrently conducting the trust business that engages in the foreign currency denominated collective investment trust account business or offers and issues foreign currency denominated collective trust funds inside the ROC shall submit the following documents to the Bank for approval before establishing or offering such fund for the first time:1.Approval documents from the competent authority. Exemptions: (1)Banks that establish foreign currency denominated collective investment trust accounts which accept funds from professional investors referred to in the Regulations Governing Offshore Structured Products (it should be stated in the application letter) only; or (2)Banks that offer and issue the foreign currency denominated collective trust fund;2.A management and utilization plan for the foreign currency denominated collective investment trust account established for the first time or an offering and issuance plan for the collective trust fund offered for the first time;3.A resolution of the board of directors for a domestic bank and Agricultural Bank to engage in the foreign currency denominated collective investment trust account business or a letter of authorization from the head office or the regional headquarters of a foreign bank;4.A regulatory compliance statement; and5.Other documents required by the Bank.An authorized bank that has obtained approval from the Bank to engage in the business mentioned in the preceding paragraph is not required to apply to the Bank for approval on a case-by-case basis subsequently.