fifty percent of the total number of shares with voting right of such company; (c) a company holding shares of other companies in all upward levels of shareholding, beginning with the company holding

holding shares of other companies in all upward levels of shareholding, beginning with the company holding shares of the company under (b) and shareholding in each level exceeds fifty percent of the total

(Translation) PAGE 112 (Translation) Securities and Exchange Act B.E. 2535 (As Amended) _________________ BHUMIBOL ADULYADEJ, REX., Given on the 12th day of March B.E. 2535; Being the 47th Year of the Present Reign. His Majesty King Bhumibol Adulyadej is graciously pleased to proclaim that: Whereas it is expedient to enact a law on the securities and exchange; Be it, therefore, enacted by His Majesty the King, by and with the advice and consent of the National Legislative Assembly functioning as...