For the purpose of this Law, the term "charitable trust" shall denote a trust established for such purposes as promotion of charity, culture, academic studies, craft, religion, religious sacrifice offering or other public interests.

The creation of a Charitable trust and appointment of the trustee thereof shall be subject to the approval of the industry's regulatory authority.
The trustee shall seek the approval provided in the preceding paragraph.

To promote public interests, a legal entity may by adopting resolution issue a public declaration to hold itself out as the settlor and trustee and may also invite the general public to act as one of the settlors.
Public declaration of the trust under the preceding paragraph shall be subject to the approval of the industry's regulatory authority.
The rights and obligations arising out of the trust relation under the first paragraph shall be determined according to the resolution of the particular legal entity and the contents of the declaration issued thereby.

A charitable trust shall operate under the supervision of the industry's regulatory authority.
The industry's regulatory authority may at any time and from time to time inspect the business and financial conditions of the trust. If necessary, the authority may order the trustee to provide appropriate security or take other actions.
A trustee shall at least once every year deliver the statement of both the business and financial conditions of the trust to the trust supervisor for review and approval and shall then file the same with the competent authority for approval and records before a public notice is placed.

When an unpredictable circumstance occurs at the time of the execution of the trust act following the establishment of a charitable trust, the industry's regulatory authority may revise the terms and conditions of the trust, taking into consideration the stated purposes of the trust.

Except where there are legitimate causes, the trustee of a charitable trust shall on no account resign without the approval of the industry's regulatory authority.

A charitable trust shall appoint and maintain a trust supervisor.

The authority of the court as provided in Article 35 (3), the second and third paragraphs of Article 36, the second paragraph of Article 45, and Articles 46, 56 to 59 hereof, inclusive shall be exercised by the industry's regulatory authority in respect of a chartiable trust; provided that the regulatory authority may also ex officio exercise such powers as provided in the second and third paragraph of Article 36, the second paragraph of Article 45, and Article 46 hereof.

The industry's regulatory authority may revoke the approval granted or take other necessary official actions if a charitable trust breaches the conditions of its establishment as set forth in the approval granted, disobeys the order of the supervisory authority or acts in any way detrimental to the public interest. The same shall apply if the trust performs no activities for three consecutive years without any good cause.
Before proceeding to take the official actions provided in the preceding paragraph, the industry's regulatory authoriy shall notify the settlor, the trust supervisor and the trustee to provide their respective opinions within the prescribed time limit, unless the notice cannot be served.

A charitable trust shall become extinguished upon the revocation by the industry's regulatory authority of the approval granted in respect of its establishment.

In the absence of any right holder of trust property as provided in the trust act upon the termination of a trust relation, the industry's regulatory authority may, for similar purposes, cause the trust relation to remain in force and effect, or cause the trust property to be transferred to other charitable legal entities or charitable trusts established for similar purposes.

Within one month of the termination of charitable trust in pursuance of Article 62, the trustee shall file with the industry's regulatory authority a report on the cause and date of said termination.

Upon the termination of a charitable trust relation, the trustee shall file a report with the industry's regulatory authority within 15 days from obtaining the acknowledgement of the trust supervisor in acordance with the first paragraph of Article 68 hereof.

The industry's regulatory authority shall impose a fine of not less than NT$20,000 and not more than NT$200,000 on the trustee of a charitable trust upon the occurrence of any of the following events:
（1）the trustee misrepresents any books of account, property inventory or statement of receipts and payments;
（2）the trustee refuses, obstructs or bypasses the inspection of the industry's regulatory authority;
（3）the trustee misrepresents or conceals any material
（4）the trustee omits in publishing a public notice or misrepresents the public notice published; or
（5）the trustee violates any supervisory order of the industry's regulatory authority.

The term "charitable trust" or any terms likely to mislead others into believing a trust as being related to a charitable trust shall not be used without approval.
A violator of the preceding paragrph shall be imposed by the industry's regulatory authority with a fine of not less than NT$ 10,000 and not more than N$100,000.

Chapter II to VII, inclusive, shall be applicable to a charitable trust unless this chapter provides otherwise.

Rules Governing the Approval and Supervision of Charitable Trust shall be prescribed by the industry's regulatory authority.