the effective date of this Notification to 31 December 2018; (2) thirty-five million baht from 1 January 2019 to 31 December 2021; (3) fifty million baht from 1 January 2022 onward. In the case that the

an exemption from the requirement of independent director from 1 January 2007 onward. In cases where the Office does not grant an exemption from the requirement of independent director to the

Investment and Securities Analyst (CISA) from level one onward; or 3.2 Having passed the course for Category A investor contact of the Office; or 3.3 Having passed other courses accepted by the Office. 4

shall undertake all actions necessary to vest the new trustee with the right over the trust property and to allow the new trustee to learn of the previous and onward management as well as deliver