​​​​Establishment of Mutual Funds

5. Termination of approval for the establishment of mutual fund

(1) Upon completion of the initial public offering (IPO), if the number of unitholders are less than 35, or the sale of the investment units does not comply with the rules, the approval shall be terminated. Following actions are required:

​​1) Inform the SEC of the case within 15 days from the closing date of the IPO;

​​2) Refund the subscription payment and any interests thereof within one month from the completion of the offering period.

(2) The company may cease the offering of investment units for sale during the IPO period by notifying the SEC within seven days from the date of cessation of the offering for sale. The company shall return the subscription payment and the interests (if any) to the unitholders within 15 days.

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