從專業分工視角論信託業法制──以不動產信託與公益信託為中心

Evaluating Trust Business Act from the Perspective of Governance: Focusing on Real Estate Trust and Charitable Trust

信託關係中受託人資歷與誠信攸關信託成敗，因此日本政府推動受託人銀行化以降低風險。由於銀行具金融專業，允許兼營金融業務受託人，自無不可；但我國開放兼營其他不具專業的信託業務，則不妥當。第一就是不動產證券化條例，規定受託機構以信託業者為限，即使委由專業機構協助，仍是外行領導內行，並不可取。第二就是公益信託法制。首先，僅信託業者擔任受託人之公益信託方得享受免稅，造成實質壟斷。其次銀行受高度監理，如全心公益則無法兼顧金融。再者外部監督機構多頭馬車，效果不彰。結論建議修法以建構適切的信託治理機制。

This article evaluates the Trust Business Act from the perspectives of governance and specialization. Since banks specialize in financial business, it is appropriate for the government to allow them to conduct finance-related trust business concurrently. However, the law should not permit banks to conduct non-finance-related trust business, for which the banks are not well-equipped. One example of a law in need of correction is the Real Estate Securitization Act, which provides that only banks are eligible to serve as trustees. Another example is the current regulatory framework for charitable trustees, which, by granting tax exemptions to bank-managed charitable trusts only, in effect creates an unjustifiable monopoly for banks. In addition, in practice many trustee-banks defer operational decisions to the donors, which runs counter to the basic requirements of a trust relationship. This article concludes by offering legislative proposals to improve Taiwan’s trust business regime.