the Office shall be positive. In case where the securities company increase its paid-up capital after the issuance of the latest financial statement, such increasing shall be calculated in the

shall be positive. In case where the derivatives broker increase its paid-up capital after the issuance of the latest financial statement, such increasing shall be calculated in the shareholder’s equity

. The financial statements under the first paragraph shall be prepared under the criteria as specified in the notification of the SEC and shall be audited with an opinion rendered thereon by a certified

not be a director, officer or employee of the securities company. The securities company shall publish its balance sheet and profit and loss account prepared in accordance with the first paragraph for

and documents submitted or presented or the explanations to elaborate or clarify in accordance with the first paragraph shall be complete and accurate.

been a change in the necessary circumstances as provided in the first paragraph, the Minister upon the recommendation of the SEC may modify or change the conditions already specified.

of the Office. In issuing the notification in accordance with the first paragraph, the Office shall specify the following important matters: (1) capital fund, net total assets and business operation of

liquidator under the first paragraph shall be given prior approval from the Office. Expenses and remuneration arising from liquidation of any mutual fund shall be paid from the assets of that mutual fund.

representative office in the Kingdom shall obtain an approval from the Office. The representative under the first paragraph shall undertake only those businesses specified in the approval. The provisions of

. Stocks right and warrants means value of right issued by the company to the holder in order to purchase an ordinary share or preferred share, including shares issued for increasing paid-up capital warrant