Article 15: (Reporting Obligation)(註1)
Party B shall review the variations of Trading Funds each business day and inform Party A and the Custodian of the balance of Trading Funds by _____ of the immediately following business day (the frequency shall be subject to the agreement of the Parties).
Upon discovering that the Trading Funds exceed 50% of the net asset value of the Fund, Party B shall prepare and deliver to Party A and the Custodian trade or investment records and status report on the day of which such event occurred. Upon discovering that the loss of the net value of the Trading Funds exceeds 20% of the original amount of the Trading Funds, Party B shall prepare and deliver to Party A trade or investment records and status report within two business days after such event occurred; the same shall apply thereafter in each case where the loss of the net value exceeds 10% of the net value set forth in the preceding report.
Party B shall prepare for Party A monthly and annual reports, which shall include trade or investment records and status report, and shall deliver to Party A and the Custodian the monthly report within seven business days after the last day of each month and the annual report within fifteen business days after the last day of each year.
Within ten business days of the last day of each quarter, Party B shall prepare the balance sheet and income statement of the Trading Funds for the preceding quarter and deliver the same to Party A and the Custodian. Also, Party B shall provide Party A with an operation review report stating the analysis, decision, execution and review of the investments made by Party B for the Trading Funds.
Party B agrees that upon the request of the FSC, it will provide the information or report pertaining to the engaged matters and inform Party A by delivering a transcript thereof. Any delivery or notice may be made by telephone call, telegram, email, postal mail, fax or any other means agreed by the Parties, provided that the notices referred to in the first and second paragraphs hereof may be made only by telephone call, telegram and fax.