|
Article 27
|
Except for offshore funds subject to Article 27-1 or Article 28 hereof, before an offshore fund may be offered and sold, the master agent of the offshore fund institution shall file a completed application (or filing) accompanied by the following documents with the SITCA, which shall review it and forward it to the FSC for approval or effective registration:<br/>1. Documents evidencing compliance with the qualifications for a master agent of an offshore fund set out in Article 9 hereof;<br/>2. The master agent agreement between the offshore fund institution and the master agent;<br/>3. The personnel training program entered into between the offshore fund institution and the master agent;<br/>4. Document evidencing that the master agent has posted the operating bond in accordance with regulations;<br/>5. The document evidencing approval for public offering from the offshore fund’s place of registration;<br/>6. Where application (or filing) is made to offer and sell more than one offshore fund, an itemized list thereof;<br/>7. Relevant information including the most recent annual financial report of the offshore fund(s) and a Chinese language summary thereof, the investment portfolio, investor information summary, and Chinese translation of the prospectus;<br/>8. Documents evidencing compliance with Article 24 hereof;<br/>9. A written statement issued by the offshore fund institution representing that it will, at the request of the FSC, provide account books and records related to the purchase, redemption, or switch of the offshore fund, and information related to the rights and interests of investors for the FSC to review;<br/>10. A written statement issued by the offshore fund manager representing its compliance with Article 23, paragraph 1, subparagraphs 1 to 5 hereof;<br/>11. The most recent financial report of the offshore fund manager;<br/>12. Document evidencing the credit rating of the custodian institution of the offshore fund(s);<br/>13. An opinion issued by a lawyer stating that the level of protection for the rights and interests of investors in the place of registration of the offshore fund(s) is no less than that in Taiwan;<br/>14. An opinion issued by a lawyer stating that the level of protection for the rights and interests of investors in the place of registration of the offshore fund manager is no less than that in Taiwan;<br/>15. Document evidencing membership in the SITCA;<br/>16. Other documents as may be required by the FSC.<br/>Where the place of registration of the fund and the home country of the offshore fund manager are recognized and publicly announced by Taiwan, the documents listed in subparagraphs 13 and 14 of the preceding paragraph, are not required.<br/>After an application or filing for the offering and sale of an offshore fund has been submitted to and approved by or effectively registered with the FSC, the master agent shall issue a statement that each sub-distributor meets the qualification requirements and submit the statement and the sub-distribution agreement to the SITCA for review and approval before the sub-distributor may begin to conduct such business.
|