Proceeds: the issuer must demonstrate the tracking of the managed proceeds for the designated project and credit the proceeds into a sub-account, in clear separation from the issuer’s other accounts; 2.4

|- Approval |- Business Operations Rules |- Reporting |- Fees |- Circular    Others (Securities Business) |- Separation of Securities and Finance Businesses & Merger (section 90) |- Representatives Office of

Securities Companies    Others (Securities Business) |- Separation of Securities and Finance Businesses & Merger (section 90) |- Representatives Office of foreign securities companies (section 93) |- Holidays

Disqualifications for Management (section 103) |- OTC Securities Dealer (section 114) |- Revocation of License (section 147) |-    Others (Securities Business) |- Separation of Securities and Finance Businesses

|- Related Circular Letter    IP/FG |- Appoint/Approval/Code of conducts and Standard Practices |- Reporting |- Fees |- Related Circular Letter    Others (Securities Business) |- Separation of Securities and

) clear separation of area for selling of investment units from others. The SEC will randomly inspect commercial banks. The SEC also urged asset management company and trustee to emphasize on effective

. Other derivatives liabilities 18. Provision 19. Other liabilities Total liabilities Shareholders’ equity 20. Share capital 20.1 Authorized share capital 20.2 Issued and paid-up share capital 21. Stock

payables 16. Debentures and debt instruments 17. Other derivatives liabilities 18. Provision 19. Other liabilities Total liabilities Shareholders’ equity 20. Share capital 20.1 Authorized share capital 20.2

business payables 16. Debentures and debt instruments 17. Other derivatives liabilities 18. Provision 19. Other liabilities Total liabilities Shareholders’ equity 20. Share capital 20.1 Authorized share

Distribution of Newly Issued Shares and Share Warrants by Issuer