Finance’s purview has already had independent director in accordance with the regulations of such regulators, it shall be deemed that the intermediary has had the independent director in accordance with this

institution which is regulated by the Bank of Thailand or the Office of Insurance Commission or [ii] state enterprise under Ministry of Finance’s purview has already had independent director in accordance with

system, to the Ministry of Finance for consideration before forwarding to the Cabinet. The conditions of failing financial institutions include liquidity crisis, deteriorating financial position, and