The board of directors of the PTS Foundation shall formulate the charter within three months of the first day of the first meeting. The regulatory agency shall submit the charter to the Legislative Yuan for reference and shall apply for corporate registration with a court.

In the event that the PTS Foundation is unable to fulfill the objectives for its establishment due to changed circumstances, it may be dissolved by resolution of the Legislative Yuan. After dissolution, the remaining property shall belong to the national treasury.
Article 37 to 43 of the Civil Code shall apply to the liquidation of the PTS Foundation.

This Law shall become effective on the day it is promulgated.
The articles of this Law amended on December 11, 2009 shall take effect on November 23, 2009.