approval has been granted by the Capital Market Supervisory Board. For the purpose of expanding business opportunity for securities companies, the Securities and Exchange Commission, acting as the Capital

scope of service provision which is inappropriate with the current situation where the securities business under the category of mutual fund management and private fund management are expanding and highly

refrain from expanding, to suspend, or to rectify its business operation pursuant to section 141, section 142 or section 143 of the Securities and Exchange Act B.E. 2535 (1992); (6) the management company

objective in undertaking fund management business for short and long term. Objective should be set for the short-term plan and criteria/factor for evaluation of the accomplishment of the plan should be

into categories, such as for the purpose of dividend level maintenance, for business expanding or under encumbrance condition. 26.2 Unappropriated means retained earnings and net income of accounting