. Other derivatives liabilities 18. Provision 19. Other liabilities Total liabilities Shareholders’ equity 20. Share capital 20.1 Authorized share capital 20.2 Issued and paid-up share capital 21. Stock

Section 117 Securities and Exchange Act B.E. 2535 Section 117. In the management of a mutual fund, a securities company may set up and manage a mutual fund only when its application to set up the

the paid-up capital to the extent that causes decrease in the shareholders’ equity in the financial statement, unless approval is given by Capital Market Supervisory Board. Clause 7 In the event that

the securities company start-up an operation, it meets the following qualifications; (1) maintain a net liquid capital according to rules prescribed by the notification of the Securities and Exchange

shall be positive. In case where the derivatives broker increase its paid-up capital after the issuance of the latest financial statement, such increasing shall be calculated in the shareholder’s equity

in a number exceeding fifty percent of the total paid-up shares with voting rights of such person; 2. an individual or a company holding shares of the company under 1. in a number exceeding fifty

paid-up shares with voting rights of such person; 2. an individual or a company holding shares of the company under 1. in the number of exceeding fifty percent of the total paid-up shares with voting

derivatives broker shall not reduce its paid-up capital to the extent that its shareholders’ equity is decreased unless permission is granted by the SEC. Clause 4 This Notification shall come into force from 16

and Exchange Commission No. SorKhor/Nor. 37/2550 Re: Relaxation on Calculation and Announcement of Net Asset Value of Mutual Funds Investing in Equity Instruments Issued by PTT Public Company Limited By

UNOFFICIAL TRANSLATION Codified up to No. 2 As of 29 June 2012 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference