virtue of Clause 5(1) of the Notification of Capital Market Supervisory Board No. TorThor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating Systems, and Providing Services to

. The following juristic persons shall be institutional investors under Section 3 of the Derivatives Act, B.E. 2546 (2003): (1) a commercial bank; (2) a derivatives business operator; (3) a derivatives

person to be an executive of the company or in cases other than (2), the derivatives business operator shall proceed the followings: (a) in case of an appointment of a person to be director or manager, the

securities company; or (b) an appointment is made in accordance with Section 145; (c) the securities company is a state enterprise under the law relating to budget procedures. (8) being a manager or a person

private fund management company [unless indicated otherwise], including: (a) a securities company licensed to undertake securities business in the category of brokerage, dealing or underwriting of any

company [unless indicated otherwise], including: (a) a securities company licensed to undertake securities business in the category of brokerage, dealing or underwriting of any securities and; (b) a

Companies ; (2) “ securities ” means any securities which are not debt instruments or investment units; (3) “ securities company ” means a company licensed to undertake securities business in the category of

not more than ten percent of the total voting shares of that listed company. If the common shareholder to be allotted the units operates a custodian business and holds shares in its name for the

company licensed to undertake securities business in the category of investment advisory service; “person with power of management” means a person responsible for a line of work relating to investment

opening accounts or engaging in business relationships with a securities company, but not including provident funds under the provident fund laws; (3) “ultimate beneficial owner of the transactions” means a