fee according to the obtained license at a fixed rate or a rate based on business volume, as the case may be, as specified in this Notification. The licensee shall pay only the fee for the license that
individual, and shall be allowed to undertake a derivatives business only after a license from the SEC has been obtained. Any derivatives business operator which is a legal entity under Section 17 and engages
licensee shall pay to the SEC Office a fee according to the obtained license at a rate varies based on business volume or at the fixed rates set out in this Notification. In the case where a licensee has
force as from 1 January 2015; (2) the second paragraph of Clause 34 relating to fundamental recommendation regarding the importance of basic asset allocation shall come into force as from 1 April 2016
obligations under derivatives positions held by a client; (2) profits or any other interests obtained from derivatives trading of a client; (3) warehouse receipt, bill of lading, or any other instruments
securities business, having obtained an approval to establish from and having registered [such establishment] with the SEC Office; (2) an association relating to supervision of a derivatives intermediary, of
obtained an approval to establish from and having registered [such establishment] with the SEC Office; (2) an association relating to supervision of a derivatives intermediary, of which objectives is for
this Notification: (1) “ fund ” means an infrastructure fund; (2) “ management company ” means a securities company holding a license to manage mutual funds; (3) “ infrastructure asset ” means: (a) the
mutual fund management’s performance shall come into force as from 1 January 2015; (2) the second paragraph of Clause 34 relating to fundamental recommendation regarding the importance of basic asset
institution established in accordance with other laws, and after having obtained a license from the Minister upon the recommendation of the SEC. The formation of a limited company or of a public limited company