信托

Right of the trust. The beneficiary may be a natural person, a legal

第四十三条受益人是在信托中享有信托受益权的人。

From then on, grade of trust beneficiary right is broadly used as a financing manner.

从此以后，社会上广泛采用了信托受益权分级这一信托融资方式。

Article 48 The beneficial right of the trust of the beneficiary may be transferred and inherited according to law, except that there are restrictive provisions in the trust documents.

第四十八条受益人的信托受益权可以依法转让和继承，但信托文件有限制性规定的除外。

If the trustor is not the only beneficiary, the trust shall continueor liquidation property

委托人不是唯一受益人的，信托存续，信托财产不作为其遗产或者清算财产

When a Director deals in the securities of the Company in his capacity as a co-trustee and he has not participated in or influenced the decision to deal in the securities and is not, and none of his associates is, a beneficiary of the trust, dealings by the trust will not be regarded as his dealings.

若董事以共同受托人的身份买卖公司的证券，但没有参与或影响进行该项证券交易的决策过程，而该董事本身及其所有联系人亦非有关信托的受益人，则有关信托进行的交易，将不会被视作该董事的交易。

Article 51 Under one of the following circumstances, the trustor may change the beneficiary or dispose of the beneficial rights of the trust of the beneficiary after the trust is established

第五十一条设立信托后，有下列情形之一的，委托人可以变更受益人或者处分受益人的信托受益权

Under one of the following circumstances, the trustor may change the beneficiary or dispose of the beneficial rights of the trust of the beneficiary after the trust is established

第五十一条设立信托后，有下列情形之一的，委托人可以变更受益人或者处分受益人的信托受益权

IV I direct that all federal estate taxes and state inheritance or succession taxes payable upon or resulting from or by reason of my death (herein "Death Taxes") attributable to property which is part of the trust estate of the MICHAEL JACKSON FAMILY TRUST, including property which passes to said trust from my probate estate shall be paid by the Trustee of said trust in accordance of terms.

我声明，因我的死亡(在这里称为&死亡税金&)而产生的所有可付的联邦资产税款和国家遗产或继承税款，均归于迈克尔·杰克逊家庭信托基金信托资产的一部分，其中包括按照条款应有委托人支付的交给委托基金的资产。

However, a reporter from the analysis of institutions in the same statistical information observed, In the first quarter of this year only 13 teams nationwide real estate trust products coming to market, and less than seven teams last year, is the largest investment by 100 Swiss issued Zhengzhou City Land Trust reserve center plan for the scale of 300 million yuan of funds.

然而，记者在同样来自该分析机构的统计信息中观察到，今年第一季度全国仅有13支房地产信托产品面市，比去年少了7支，规模最大的是由百瑞投资发行的郑州城区土地储备中心信托计划，资金规模为3亿元。

"REIT restrictions limiting the size of the rapid development of real estate trust a bottleneck problem." Analysis of Dr.

&房地产投资信托基金的限制的大小限制的迅速发展，房地产信托的一个瓶颈问题。&

I didn't watch TV last night, because it .

昨晚我没有看电视，因为电视机坏了。

Since this year, in a lot of villages of Beijing, TV of elevator liquid crystal was removed.

今年以来，在北京的很多小区里，电梯液晶电视被撤了下来。