Where the trust agreement stipulates that a beneficiary may request redemption of certificates of beneficial interest, the beneficiary may request redemption in writing or in another manner as stipulated; the SITE may neither refuse redemption nor delay payment of the redemption price, provided that under any of the following circumstances, and with FSC approval, these restrictions shall not apply:
1.Trading has ceased on the TWSE, GTSM, or currency markets for reasons other than a weekend or regular holiday.
2.Normal communications have been interrupted.
3.Restrictions have been placed on exchange transactions.
4.Other exceptional circumstances making it impossible to receive a redemption request or pay the redemption price.
The redemption price of certificates of beneficial interest may be specified in the securities investment trust contract, and shall be calculated based on the net asset value of the fund on the date of receipt of a redemption request by the SITE or its appointed agent, or the next business day, provided that when the redemption price payable exceeds the assets maintained according to the ratio set by Article 18, calculation of the redemption price may be otherwise stipulated in the trust agreement.
Redemption procedures for ETFs may be carried out as stipulated in the trust agreement without regard for the restrictions of the preceding two paragraphs.

For domestically-invested funds managed by a SITE, the SITE shall pay the redemption price within five business days from the first business day following receipt of a beneficiary's redemption request.
Following a beneficiary's request for redemption of certificates of beneficial interest, a SITE shall pay the redemption price within the time period prescribed in the preceding paragraph, and in addition carry out exchange of the certificates within seven days from the first business day following receipt of the request.
When any of the following conditions apply with respect to a fund managed by a SITE, payment of the redemption price to a beneficiary requesting redemption will be carried out in accordance with the trust agreement:
1.The fund is offered domestically for investment abroad.
2.The fund is offered overseas for investment domestically.
3.The fund is an ETF.
4.The fund is a fund of funds.
5.The fund is a principal-guaranteed fund.
6.Other conditions approved by the FSC.