licensee shall pay to the SEC Office a fee according to the obtained license at a rate varies based on business volume or at the fixed rates set out in this Notification. In the case where a licensee has

the manipulation or distribution of, assets derived from such acts. (2) regulations specifying the composition of an association related to securities business, whereby a body of persons of at least

fee according to the obtained license at a fixed rate or a rate based on business volume, as the case may be, as specified in this Notification. The licensee shall pay only the fee for the license that

this Notification: “Fee” means fee for the operation of a licensed business. “Income” means income derived from the operation of a licensed business. “Office” means the Office of the Securities and

concession right to operate an infrastructure business; (c) the right to receive the future income or the right under the income sharing agreement that will be generated by an infrastructure business or will

person to be the manager of the fund and the assets generated from the fund; (3) having an investment policy whereby investment in a business is made through entering into an agreement for investment in

individual, and shall be allowed to undertake a derivatives business only after a license from the SEC has been obtained. Any derivatives business operator which is a legal entity under Section 17 and engages

institution established in accordance with other laws, and after having obtained a license from the Minister upon the recommendation of the SEC. The formation of a limited company or of a public limited company

Obtaining the License _________________ Clause 8 A person who obtained precious metal derivatives brokerage license shall comply with the following conditions: (1) before commencement of precious metal

license. Chapter 3 Conditions for Compliance after Obtaining the License _________________ Clause 8 A person who obtained precious metal derivatives brokerage license shall comply with the following