Section 8Sec./Art. 8

Submission of FISTC Plan.- Within the period prescribed by the Commission, reckoned from the establishment of a FISTC pursuant to Section 4 hereof, a FISTC PLan shall be submitted to the Commission for approval and shall include the following:

(a) Investment policies of the FISTC;

(b) Contribution plan including the amounts and draft of subscription documents;

(c) Features of the IUIs, including the specific amounts issued and to be issued;

(d) Rights of the holders of the IUIs;

(e) Draft agreements for the appointment of trustees and agents with respect to the IUIs and the NPLs acquired from an FI;

(f) Name of the external auditor of the FISTC;

(g) Roles and responsibilities of the trustees, advisors, loan services and property managers;

(h) Draft form of financial reports of the FISTC;

(i) Details of distribution policies;

(j) Methods for the increase and decrease of future fund distribution;

(k) Methods for the alteration or modification of the approved FISTC Plan;

(l) Methods for the liquidation and distribution of assets to the holders of IUIs;

(m) Details of credit enhancements like guarantees or standby letters of credit or advances that may be extended to the FISTC by an entity which shall not be the selling FI, its parent, subsidiaries or affiliates; and

(n) Such other documents or information as may be required by the Commission.