been a change in the necessary circumstances as provided in the first paragraph, the Minister upon the recommendation of the SEC may modify or change the conditions already specified.

. 43 FNotification of the Capital Market Supervisory Board No. Tor Nor. 1/2554 Re: Rules, Conditions and Procedures for Establishment and Management of Infrastructure Funds _____________ By virtue of

that the securities company is able to demonstrate establishment of the organizational structure which does not cause conflicts of interest or provision of an effective measure to prevent such conflicts

Securities and Exchange Commission Notification of the Securities and Exchange Commission No. KorNor. 30/2547 Re: Rules, Conditions and Procedures for Establishment and Management of Funds _____________ The

reference. PAGE 13 Notification of the Office of the Securities and Exchange Commission No. Sor Thor. 37/2559 Re: Rules in Detail on Establishment of Information Technology System By virtue of Clause 5(1) in

Exchange Commission No. SorThor/Nor/Dor/Khor. 11/2551 Re: Rules, Conditions and Procedures for the Establishment of Risk Management System for Business Continuity of Securities Companies By virtue of: (1

of the Securities and Exchange Commission No. SorNor. 5/2550 Re: Establishment of a Branch Office and Serving Customers by an Asset Management Company outside Its Office Premises and Office Hours

Clause 20 of the Capital Market Supervisory Board No. TorNor. 27/2552 Re: Rules, Conditions, and Procedures for Establishment and Management of Funds dated 20 July 2009, the Office of the Securities and

(6) as amended by the Notification of the Office of the Securities and Exchange Commission No. KorNor. 1/2550 Re: Rules, Conditions and Procedures for Establishment and Management of Funds (No. 4

granting of such approval shall be in accordance with the rules, conditions and procedures as specified by the SEC. The establishment of a branch office of a financial institution established in accordance