for the benefit of the operation (Translation) PAGE (Translation) -2- Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for

for the benefit of the operation (Translation) PAGE (Translation) -3- Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for

being fund supervisor are unlimited liabilities partners or limited liabilities partners that hold shares in an aggregate of more than ten percent of the total shares of such limited partnership; (3

aggregate of more than 75% of all shares with voting right; (15) Foreign investors with the same characteristics as such investors under (1) to (14) mutatis mutandis ; (16) Juristic person as permitted, on a

Section 105 Securities and Exchange Act B.E. 2535 Section 105. A securities company shall prepare its accounts stating true and accurate business operation and financial condition, which must conform

total aggregate amount of investment in shares shall not exceed sixty percent of the total investment of the intermediary unless a waiver is granted by the SEC Office. The investment fund under Paragraph

. ---------------------- The Securities and Exchange Commission Notification of the Securities and Exchange Commission No. KorThor/Nor/Yor. 47/2546 Re: Determination of Fees for the Operation of Licensed Businesses

ownership of, the possessory right or the leasehold in land, building, construction, machine, equipment including all other related assets used in the operation of an infrastructure business; (b) the

business operation. However, using information technology may cause certain risks arising from the operation of the securities company in various respects. Among other things, the SEC Office considers these

of the Office. In issuing the notification in accordance with the first paragraph, the Office shall specify the following important matters: (1) capital fund, net total assets and business operation of