These Regulations are adopted pursuant to Article 10, paragraph 1 of the Securities Investment Trust and Consulting Act ("the SITC Act").

These Regulations apply to a securities investment trust enterprise (SITE) that publicly offers and sells a securities investment trust fund and issues beneficial interest certificates.
When a SITE makes a public offering of a fund only in foreign countries and for investment in foreign securities, the laws and regulations of the place where the offering is made shall apply, and these Regulations do not apply.