This Act is enacted to improve management and development of trust enterprises and to protect rights and benefits of trustors and beneficiaries.
Banks which conduct trust business with the approval of the Competent Authority shall be governed by this Act.

The term "Trust Enterprise" as used in this Act shall mean an institution approved by the Competent Authority pursuant to the provisions of this Act to conduct a trust business.

Securities investment trust enterprises and securities investment consulting enterprises which respectively, conduct specific items of a trust business concurrently to their other businesses pursuant to the Securities Investment Trust and Consulting Act and meet certain requirements, or securities firms which concurrently conduct specific items of trust businesses shall apply to the Competent Authority for approval before they are subject to provisions of the Act other than Articles 10 through 15, Articles 38 through 40 and Article 43 of the said Act.
The Competent Authority shall determine the scope of specific items of a trust business mentioned in the preceding Paragraph, qualification requirements for obtaining an approval of the application mentioned in the said Paragraph from the Competent Authority, circumstances that prevent the application from being approved by the Competent Authority and circumstances that make the said authority annul the permit, financial affairs, business management and other regulations which shall be complied with.

To facilitate the development of financial inclusion and financial technology, the innovative experiment of trust business may be applied, but not limited to trust enterprise, for pursuant to Financial Technology Development and Innovative Experimentation Act.
The foregoing innovative experiments may be exempt from the requirements of the Act within the period and scope approved by the competent authority.
The competent authority shall make reference to the status of the innovative experiments specified in Paragraph 1, and review the appropriateness of the Act and relevant financial laws.

The term “Competent Authority” as used in this Act, shall mean the Financial Supervisory Commission.

The term, "Responsible Officer of a Trust Enterprise", as used in this Act, shall mean the person designated to be responsible in accordance with the provisions of the Company Act, other acts or the Articles of Incorporation of the relevant Trust Enterprise.

The qualifications for a trust enterprise responsible officer shall be as prescribed by the Competent Authority.

The term, "related party" of a trust enterprise, as used in this Act shall mean any of the following circumstances:
1.A person holding more than five percent (5%) of the total number of shares issued by a trust enterprise or the total amount of the capital of a trust enterprise.
2.A person serves as a responsible officer of a trust enterprise.
3.A person who has power to decide how to allocate trust property.
4.A sole proprietor business operated by a person mentioned in Subparagraph 1 or Subparagraph 2, a partnership enterprise operated by persons mentioned in any of the said provisions, serving as a responsible person of an enterprise, or acting as a representative of an organization by a person mentioned in any of the said provision.
5.A person mentioned in Subparagraph 1 or Subparagraph 2 solely or collectively holds more than 10% of the total number of shares issued a company or the total amount of the capital of an enterprise.
6.A half (1/2) or above of the total number of directors of the board of directors in a company engage in businesses that are identical to a trust enterprise.
7.An enterprise of which more than five percent (5%) of the total number of shares is held by a trust enterprise.

The term, "collective trust funds", as used in this Act shall mean the trust funds which are raised by a trust enterprise from an unspecific majority of people for specific investment purposes by means of issuance of beneficiary certificates or book entry and which are operated by the trust enterprise for the benefit of these unspecific majority of people.
As regards collective trust funds which are set up for purposes of investment in securities as defined by Article 6 of the Securities, if the establishment of collective trust funds meets certain requirements, it shall be processed pursuant to relevant provisions of the Securities Investment Trust and Consulting Act.

A trust enterprise's name shall indicate the word, ‘trust.’ This rule does not apply to an entity which conducts a trust business concurrently with the approval of the Competent Authority.
Unless otherwise provided by other laws, a non-trust enterprise shall not use a name which indicates or may mislead the public into believe that it is a trust enterprise.
Political parties or other political organizations shall not invest in or manage a trust enterprise.