duties with efficiency, fairness and transparency; focuses on promoting and developing the operation of the securities businesses. At present, three associations related to the securities business are as
considered as executive as well. Therefore, both Manager Z and Assistance CFO Y are regarded as “executives". Acts and Royal Enactments Ministerial Notifications Rule Making Process Regulations Ministerial
throughout the term of the bonds. 4.3 There is no ground to suspect that the lead regulator of the capital market of the country wherein the issuer is established is unable to provide an assistance to the SEC
the country wherein the issuer is established is unable to provide an assistance to the SEC Office. 7. No record of breaches of regulations and laws (i.e. being currently subject to a criminal complaint
equivalent to the fourth rank]" by more than one tier, all higher-level-positions in the same hierarchy pillar must be considered as executive as well. Therefore, both Manager Z and Assistance CFO Y are