Legislative: |
1. Promulgated on November 13, 2000 2. Amended on December 18, 2009 |
Content: |
Article 1 These Regulations are enacted pursuant to Paragraph 3, Article 22 of the Trust Enterprise Act. Article 2 The term “asset trust from political parties or political organizations” as used in these Regulations shall mean a political party or other political organization declaring its property to the trust of a trust enterprise. Article 3 When accepting asset trust from a political party or political organization, a trust enterprise shall, within ten (10) days after the conclusion of a trust agreement, publicly announce the following information in a local newspaper or in a manner designated by the Competent Authority, and report same to the competent authority administering over political parties or other political organizations for recordation, and send a copy of the same to the Competent Authority: 1. Name and address of trustor; 2. Purpose of trust; 3. Types and quantities of trust property; 4. Recipients, time and methods for the calculation and distribution of trust income; 5. Disposition of trust property when the trust relationship ends; 6. Date of agreement signing and term of trust; and 7. Other information as prescribed by the Competent Authority. Article 4 While a trust enterprise manages an asset trust from a political party or political organization, the trust enterprise shall, within four (4) months after the end of each fiscal year, publicly announce the following information in a local newspaper or in a manner designated by the Competent Authority, and report same to the competent authority administering over political parties or other political organizations for recordation, and send a copy of the same to the Competent Authority: 1. Name and address of trustor; 2. Types and quantities of trust property of the trustor as of end of the previous fiscal year; 3. Total income earned on the trust property of the trustor as of end of previous fiscal years and recipients and amount of distribution; and 4. Other information as prescribed by the Competent Authority Article 5 After a trust enterprise has accepted asset trust from a political party or political organization, if the trust agreement entered therebetween is revoked, terminated or has changes to any of the items provided under subparagraphs of Article 3 herein, the trust enterprise shall, within ten (10) days after the change, revocation or termination of the agreement, publicly announce the reason(s) and date for the change, revocation or termination in a local newspaper or in a manner designated by the Competent Authority, and report same to the competent authority administering over political parties or other political organizations for recordation, and send a copy of the same to the Competent Authority Article 6 These Regulations shall take effect on the date of promulgation. |