. KorNor. 22/2552 Re: Determination of Investment Management not being regarded as Securities Business in the Category of Private Fund Management _____________ By virtue of Section 4 and Section 14 of the

: Determination of Paid-Up Registered Capital of Securities Company Licensed to Undertake Securities Business in the Category of Private Fund Management dated 18 September 2000. (2) The Notification of the

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

High Net Worth Investor and High Net Worth Investor . Clause 3 A securities business license applicant and licensee shall have paid-up registered capital of no less than the following amounts: (1) one

Exchange Commission No. KorNor. 69/2547 Re: Rules, Conditions, and Procedures for Approval of the Private Fund Custodian By virtue of Section 14 of the Securities and Exchanges Act, B.E. 2535 (1992) and

information for consideration. The provisions in paragraph one hereof shall not apply to the management of a private fund, of which investment policy is standardized as specified in the notification of the

, Management Arrangement, Operating Systems, and Providing Services to Clients of Securities Companies and Derivatives Intermediaries dated 6 September 2013; “ fund ” means any mutual fund and private fund

approval of the Cabinet. “derivatives” means a contract having one or any combination of the following characteristics: (1) a contract in which one party is obliged to deliver goods as specified in the

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

Investors and Private Funds ___________________________ By virtue of Section 16/6 of the Securities and Exchange Act B.E. 2535 (1992), as amended by the Securities and Exchange Act (No. 4) B.E. 2551 (2008