Banks that have been approved to set up a trust department prior to the date of enforcement of this Act shall apply for amendment of the license pursuant to this Act within six months after the date of enforcement of this Act. The businesses engaged in by the trust department of such banks which are not in compliance with this Act shall be adjusted within three years from the date of enforcement of this Act.

Investment and Trust Companies established in accordance with the Banking Act of the Republic of China prior to the date of enforcement of this Act shall apply to convert their status to a commercial bank in accordance with the Banking Act of the Republic of China and other relevant regulations or apply to convert their status to a trust enterprise in accordance with this Act within five years from July 21, 2000. If necessary, the Competent Authority may suspend part of the business conducted by such companies in accordance with the Banking Act of the Republic of China within a specified period.

Political parties or other political organizations investing in or managing a Trust Enterprise prior to the date of enforcement of this Act shall assign or entrust their shares or capital within one year after the date of enforcement of this Act.

For purposes of trying a criminal case of violation of this Act, the court may set up a special tribunal or appoint certain persons to hear the case.

Enforcement Rules governing the application of this Act shall be as stipulated by the Competent Authority.

This Act shall come into force from the date of promulgation.
The provisions of this Act as amended on May 5, 2006, shall come into force on July 1, 2006.