owner in shares under the fourth paragraph of Section 24, a director, an officer or an employee of such derivatives business operator. Furthermore, the auditor shall also adhere to the ethical code of

elements in TSQC 1, as follows: (1) Leadership Responsibilities for Quality within the Firm (2) Relevant Ethical Requirements (3) Acceptance and Continuance of the Client Relationship and Specific

management company; (f) Manager of fund; (g) Juristic person which person in (e) or (f) hold shares or be a partner combining exceed 30 percent of total shares sold or amount of contribution of such juristic

having shareholder being person as prescribed in (1) to (13) combining hold shares exceed 75% of share which entitle to vote; (15) foreign investors having qualifications as the investor prescribed in (1

, whether directly or indirectly, by itself or combining with others exceeding fifty percent of the total number of shares with voting right of the applicant; (10) “subsidiary” means: (a) a company whose

number of shares with voting right of such other companies; (d) a company holding shares of the applicant , whether directly or indirectly, by itself or combining with others exceeding fifty percent of the