The Derivatives Act The Derivatives Act B.E. 2546 SECTION 16. A derivatives business operator shall be a limited company or a public limited company, except for a derivatives advisor which may be an

the duty of a director, a manager or a person with power of management, or an advisor: (1) being or having been a bankrupt; (2) having been imprisoned by the judgement of a court which is final for an

Institution System; (3) Notification of the Securities and Exchange Commission on Rules, Conditions and Procedures on Establishment and Management of Property Fund and Loan Fund; “Advisor” means any person who

Applications for Registration to be a Derivatives Business Operator in the Category of Derivatives Broker, Derivatives Dealer and Derivatives advisor. By virtue of Clause 5 of the Notification of the Securities

hedge fund, to a foreign service provider who is legally permitted to operate investment management business for hedge funds (i.e., hedge fund manager/advisor) under the law of a foreign country wherein

perform duty as director, manager or person with power of management or advisor of another securities company, which is in support of financial conglomerate of securities businesses, bringing about

/2547 Re: Rules, Conditions and Procedures for Establishment and Management of Funds dated 10 June 2004; and (6) Clause 3(1) of the Notification of the Securities and Exchange Commission No. KorKhor. 42

appraisal report on the infrastructure asset that the fund will invest prepared in accordance with Clause 12; (c) the document stating the opinions of the management company and the financial advisor on the

public auditor. The provision of the first paragraph shall not apply to a derivatives advisor.

Re: Rules, Conditions and Procedures for Advertisement Related to Promotion of Sales of Investment Units and Providing of Fund Management Services _____________ By virtue of Section 98(10) and Section