According to the Measures for the Administration of Trust Plans for Collective Funds of Trust Companies:
Article 5
A trust company establishing a trust plan shall meet the following requirements:
(1) The customer is a qualified investor;
(2) The trustor participating in the trust plan is the only beneficiary;
(3) The number of natural persons in a single trust plan shall not exceed 50, but the number of natural person investors and qualified institutional investors with a single entrustment amount of more than 3 million yuan is not limited;
(4) The trust period is not less than one year;
(five) the trust fund has a clear investment direction and investment strategy, which is in line with the national industrial policy and other relevant regulations.
(6) The beneficial right of trust is divided into trust units with equal shares;
(seven) the trust contract shall stipulate the remuneration of the trustee, and the trust company shall not use the trust property to directly or indirectly make profits for itself or others in any name except reasonable remuneration;
(8) Other conditions stipulated by China Banking Regulatory Commission.
Extended data:
According to the Trust Law of People's Republic of China (PRC):
Article 11
In any of the following circumstances, the trust is invalid:
(1) The purpose of the trust violates laws, administrative regulations or harms public interests;
(2) The trust property cannot be determined;
(3) The trustor establishes a trust with illegal property or property whose establishment is prohibited by this Law.
(4) establishing a trust exclusively for litigation or debt collection.
(5) The beneficiary or the scope of the beneficiary cannot be determined;
(6) Other circumstances stipulated by laws and administrative regulations.
Article 12
If the trustor establishes a trust that harms the interests of the creditors, the creditors have the right to apply to the people's court for revocation of the trust.
If the people's court revokes the trust in accordance with the provisions of the preceding paragraph, it will not affect the trust interests already obtained by the bona fide beneficiaries.
If the right of application stipulated in the first paragraph of this article is not exercised within one year from the date when the creditor knows or should know the reason for revocation, the right of application shall be extinguished.
Article 13
The establishment of testamentary trust shall abide by the provisions of the inheritance law on wills.
If the person designated in the will refuses or is unable to act as the trustee, the beneficiary shall appoint another trustee; If the beneficiary is a person without or with limited capacity for civil conduct, it shall be designated by his guardian according to law. If there are other provisions on the appointment of the trustee in the will, such provisions shall prevail.
Article 14
The property acquired by the trustee as a result of the trust commitment is trust property.
Property acquired by the trustee due to the management, use, disposal or other circumstances of the trust property also belongs to the trust property.
Property whose circulation is prohibited by laws and administrative regulations shall not be used as trust property.
Property whose circulation is restricted by laws and administrative regulations may be used as trust property after being approved by the relevant competent department according to law.
Baidu Encyclopedia-Measures for the Administration of Trust Plans for Collective Funds of Trust Companies