on Private Fund Management dated 31 July 2000; (4) Notification of the Office of the Securities and Exchange Commission No. SorNor. 49/2543 Re: Rules on Protection of Conflict of Interest on Investment

/254 7 Re: Application Form for Approval of Private Fund Custodian and Supporting Documents By virtue of Clause 8 and the second paragraph of Clause 11 of the Notification of the Securities and Exchange

main objective is to promote and develop securities businesses in the category of investment management; “Private fund manager” means a director or an employee of a securities company licensed to

brokerage; (2) securities dealing; (3) securities underwriting; (4) mutual fund management; (5) private fund management. 1The provision under Paragraph 1 shall not be applicable to a licensee under Paragraph

results in an offsetting of the position or by any other means under the rules of a derivatives clearing house. “securities” means securities under the Securities and Exchange Act. “Stock Exchange” means

and procedures for approval for mutual fund manager; “Private fund manager” means any private fund manager who obtains approval from the Office under the notification of the Securities and Exchange

Stock Exchange of Thailand; “ investment unit ” means: (1) The investment unit specified under the Law on Securities and Exchange ; (2) A financial instrument or certificate representing the right of the

. - There should be a system to access the Mutual und Approving System. Private Funds - The private fund management contract should at least contain the following matters: (1) Right, duties, and

insurance company; (9) mutual fund; (10) private fund managed by a securities company for the investment of ultra-high net worth investors, high net worth investors or investors under (1) to (9) or (11) to

is not an institutional investor , private equity , venture capital and investor having a specific characteristic. “ institutional investor ” means an institutional investor in accordance with the