Any amendment to a trust agreement shall be submitted to the FSC for approval; following approval, the SITE shall announce the amendment within two days.

The duration of a fund shall be as stipulated in the fund's trust agreement.
Given any of the following circumstances, a trust agreement shall be terminated following FSC approval:
1.When the SITE or the fund's custodian institution undergo dissolution or bankruptcy or their business approval is cancelled or voided, or where their management or custody of a fund are obviously deficient and an FSC ordered switch renders them unable to continue to execute their duties, while at the same time no existing SITEs or custodian institutions are suited for succession to the rights and obligation of the original SITE or custodian institution.
2.When a beneficiaries' meeting resolves to switch SITEs or custodian institutions, and there is no other suitable SITE or custodian institution to succeed to the rights and obligations of the original SITE or custodian institution.
3.When the net asset value of a fund drops below the FSC-prescribed standard.
4.When market conditions, the nature or scale of the fund, or other legal or substantive conditions make the fund's continued operation impossible.
5.When the beneficiaries' meeting resolves to terminate the trust agreement.
6.When the beneficiaries' meeting resolves that its SITE or custodian institution is unacceptable, and there is no other suitable SITE or custodian institution to succeed to the rights and obligations of the original SITE or custodian institution.
7.When there are other reasons for termination as stipulated in the trust agreement.
The FSC may order the termination of a trust agreement when it deems such action warranted to protect the public interest or the rights and interests of beneficiaries.
When a trust agreement is terminated because the fund's period of duration has lapsed, such fact shall be reported to the FSC for recordation within two days after the period has lapsed.
A SITE shall announce the termination of a trust agreement within two days of the date on which the termination is reported for recordation or the termination is approved.

When a trust agreement terminates, liquidators shall complete liquidation of the fund within three months of the date on which the FSC approves its liquidation. Liquidators shall make proportional distributions to beneficiaries of the remainder after liquidation, based on the number of beneficiary units held, provided that when for legitimate reasons liquidation cannot be completed within three months, application may be made to the FSC, prior to the lapse of the first three-month period, for a one-time extension of not more than three additional months.
Liquidators shall announce and report to the FSC the methods of liquidation and distribution referred to in the preceding paragraph and notify beneficiaries of the same.
Within two months of the conclusion of liquidation proceedings, the results shall be filed for recordation with the FSC and notice of same provided to beneficiaries.

The SITE shall act as the liquidator of a fund; when the circumstances under Article 45, paragraph 1, subparagraphs 1 or 2 of the Securities Investment Trust and Consulting Act apply to the SITE, the fund's custodian institution shall act as liquidator. When the circumstances under Article 45, paragraph 1, subparagraphs 1 or 2 of the Securities Investment Trust and Consulting Act also apply to the custodian institution, the beneficiaries' meeting shall pass a resolution selecting another SITE or custodian institution qualified under FSC regulations to act as liquidator.
When a fund's trust agreement is terminated because the circumstances under Article 45, paragraph 1, subparagraphs 1 or 2 of the Securities Investment Trust and Consulting Act apply to the fund's custodian institution, the liquidator shall select another custodian institution to execute custodial duties for the fund for the duration of the liquidation period, subject to the prior approval of the FSC.
Except where otherwise provided by law or in the trust agreement, the rights and obligations of the liquidator and the custodian institution during the duration of the fund shall be the same as those of the original SITE and the original custodian institution.

A liquidator shall preserve all account books and statements for a period of not less than ten years from the date on which it reports conclusion of liquidation proceedings to the FSC.