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of a license and granting of an approval under this Act. In cases where an application for a license or for an approval is refused, the applicant shall be notified of the reasons therefor.” SECTION 5
accordance with the trust instrument or this Act, the trustee shall be liable to indemnify the trust. In cases where it is necessary and there is a reasonable ground for the benefit of the trust, the trustee
such property is transformed into a different form or state, except the acquisition of the property was done in good faith and for value, providing further that the person acquired that property did not
property from the former trustee and whether such property is transformed into a different form or state, except the acquisition of the property was done in good faith and for value, providing further that
with the following provision: “"mutual fund management" means the management of investments under a mutual fund project by issuing investment units of each project for sale to the public and bringing
complied with Section 65 or (3) is an offer for sale of newly issued securities by a public company limited and is made entirely to its shareholders in proportion of their existing shareholding and in
process to members and shall include a system, in form of a committee, for consideration of appeals filed by the members against the disciplinary sanction. The Capital Market Supervisory Board rules
process to members and shall include a system, in form of a committee, for consideration of appeals filed by the members against the disciplinary sanction. The Capital Market Supervisory Board rules
that the resolution and the order shall state clear reason therefor; (5) having the prohibited characteristics as provided in Section 16/2. If the office of a board member appointed by the Minister is