under supervision of the jurisdiction wherein such regulatory agency is located shall not be less than the regulations of the SEC Office; (c) a central bank which is a member of the Bank for International

arrange for the customer to borrow securities only from or through the central securities depository, provided that the reasons of necessity prescribed by a Notification of the Office has been given. Clause

investments, the following requirements shall apply: 1. in case of a central utility function , the subcontractor at any level shall be a person approved by the SEC Office in accordance with Clause 12; 2. in

and lending (SBL); “Central securities depository” means any central securities depository under the law on securities and exchange; “Depositor” means a person approved by the central securities

; “State agency” means central administration, regional administration, local administration, financial institutions development fund, Bureau of Crown Property and other agency as specified by the Office

of the SEC Office (if any) and/or the conditions for the Stock Exchange of Thailand’s acceptance of securities (if any), including the compliance with such obligations or conditions in the following

meeting of securities holders. “Central securities depository” means any central securities depository under the law on securities and exchange; “Margin account” means an account of client’s loan for

of the Office of the Securities and Exchange Commission No. OrKhor./Nor. 5/2549 Re: Guidelines Relating to Operating Systems of Fund Management Business In order for a management company to comply