No. TorThor. 45/2553 Re: Rules, Conditions and Procedures for Applying for Permission and Granting of Permission to Securities Company to Establish Branch Offices (No. 2) _____________ By virtue of

suggestions of the private sector and stakeholders who took part in the previous hearing on the governing prinicples.Key points of revision include (1) permission for mutual funds offered for sale to

|- Capital Adequacy Requirements |- Executives / Personnel | - |- Approval & Qualifications (Section 103, 104) |- Auditors |- Reporting |- Fees |- Related Circular Letter    Marketing |- Approval and Standards

Repeal of Notification Concerning Approval for Auditors of Company Approved to Issue and Offer for Sale of Newly Issued Derivatives Warrant to Facilitate and Rehabilitate or Restructure Debts of the

Determination of Other Financial Institutions Eligible to Apply for Securities Business Licenses Pursuant to the Ministerial Regulation Concerning Granting of Approval for Undertaking Securities

Determination of Form and Procedure of Application and Form of License for Undertaking Securities Business Pursuant to the Ministerial Regulation Concerning Granting of Approval for Undertaking

Repeal of the Notification of the Office of the Securities and Exchange Commission regarding Application Form for Approval of Operation of Agricultural Futures Trading Business by Derivatives

Repeal of the Notification of the Office of the Securities and Exchange Commission regarding Approval of Auditors for Offer for Sale of Debt Securities by Foreign Juristic Persons B.E. 2552

. The Company is required to get approval from the Board of Directors and disclose information to the Stock Exchange of Thailand, without having to seek further approval from the shareholders’ meeting

Section 92 Securities and Exchange Act B.E. 2535 Section 92. A securities company may establish a branch office only when an approval has been given by the Office. The application for and the