Related Regulations The purpose of the restriction on unitholding in mutual fund above one-third of the outstanding investment units is to promote the more extensive distribution of investment units. The
means any legal entity obtaining the license to undertake securities business which is not: (1) any legal entity supervised by any other governmental agencies before obtaining securities business license
) checking the basic individual qualifications of the applicant i.e. having extensive audit experience, holding a CPA license, not possessing prohibited characteristics and