Banks, which have been approved to set up a trust department prior to the enactment of this Act, shall apply for amendment of the business license pursuant to this Act within six months after the effective date 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 effective date of this Act.

Investment and Trust Companies established in accordance to the Banking Act prior to the enactment of this Act, shall apply to convert their status to a commercial bank in accordance with the Banking Act 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 within a specified period.

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

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

This Act shall be effective from the date of promulgation.
If the translations of the texts differ from the original Chinese texts, the original texts are preferential.