Article 7 The President, Vice President, Premier, and Vice Premier; the Presidents and Vice Presidents of the Executive Yuan, Legislative Yuan, Judicial Yuan, Examination Yuan, and Control Yuan; Officers of political affairs; the Chairmans and Vice Chairmans of the headquarters and branches of state-owned enterprises; the mayors of special municipalities; and the governors of counties (cities) themselves and their spouses and underage offspring shall entrust the below prescribed property items to a trust enterprise three months after the day of inauguration of the aforementioned positions:
1. Immovable properties. However, single housing (including the land base) personally chosen for private use and those that trust enterprises are unable to confer or have difficulty conferring a trust upon according to law, shall be excluded.
2. Domestic listed and over-the-counter stocks.
3. Other properties subject to mandated trust by the appointment of the Executive Yuan in conjunction with the Examination Yuan and Control Yuan.
For public servants subject to property declarations according to this Act not prescribed in the preceding paragraph and who hold special work-related interests in regard to the properties prescribed in the preceding paragraph, the preceding paragraph shall apply after obtaining the approval of competent offices and yuans.
After the completion of trust, for additional properties subject to trust due to changes of circumstances, the personnel mentioned in the preceding two paragraphs shall entrust and declare those properties in three months; for the excluded conditions of non-trustable immovable properties as prescribed in Paragraph 1 Subparagraph 1 herein, any changes of circumstances of such properties shall be declared along with regular annual property declarations.
The legal representatives of the underage offspring prescribed in Paragraph 1 herein shall serve as the trust’s legal representative, unless the underage offspring are married. However, according to amendments made on Dec. 30, 2020, the legal representatives of offspring who are married but under the age of 18 shall remain their trust legal representative effective Dec. 30, 2020.
The personnel as prescribed in Paragraph 1 herein shall still declare the trusted properties regularly and annually, or upon discharge of duties.
Article 20 The implementation date of this Act shall be ordered by the Executive Yuan in conjunction with the Examination Yuan and Control Yuan.
The provisions of this Act were revised on January 10, 2014 and shall take effect starting from the date of promulgation.
Further provisions of this Act were revised on December 30, 2020 and shall come into effect January 1, 2023.