Section 121 Securities and Exchange Act B.E. 2535 Section 121. A mutual fund supervisor shall be a commercial bank or a financial institution which has qualifications as specified in the notification

of Securities and Exchange Commission No. SorNor. 45/2541 Re: Qualifications of Mutual Fund Supervisors (No.3) dated 4 November 1998. Clause 2 . In this Notification: “Fund supervisor” means the mutual

Supervisor ______________________ In pursuance of the Notification of the Office of the Securities and Exchange Commission governing the qualifications of the mutual fund supervisor – one such qualification

investment units, established and managed by a management company. “Fund supervisor” means the fund supervisor of a closed-end fund. “Office” means the Office of the Securities and Exchange Commission. Clause

agent; (3) a mutual fund supervisor; (4) a private fund custodian; (5) a derivatives business operator; “claimant” means any person who is caused damage by the act of the respondent or any other person

of the increase or decrease in the number of investment units. “Scheme” means an open-end fund management scheme. “Fund supervisor” means the fund supervisor of an open-end fund. “Office” means the

information among work units and personnel; and internal control measures to audit and counterbalance the operation and to prevent any transactions which may give rise to a conflict of interest, including

and may engage in the affiliated transaction for the fund only when an approval is granted by the mutual fund supervisor for the case specified in Clause 14, the conditions specified in Clause 15 are

. Any custodian who has been registered as a person qualified to be a mutual fund supervisor and has been approved by the Office for custodian agent appointing system for a mutual fund, such custodian

which is in the same financial conglomerate, and provided that such supervisor is not a securities company or a derivatives broker which has been granted an exemption from the requirement of independent