29/2540 Re: Rules, Conditions and Procedures for Securities Borrowing and Lending By virtue of Section 14 of the Securities and Exchange Act, B.E. 2535 (1992) and Clause 5 of the Ministerial Regulation

subsequently to operate securities business. This does not include financial institutions licensed to undertake securities borrowing and lending business which offer custody for clients’ assets related to

Regulations on Securities Borrowing and Lending _________________________ Clause 18 In cases where an intermediary is a representative of a securities borrower or lender, the intermediary shall prepare an

of securities brokerage, securities finance, securities borrowing and lending, securities dealing or securities underwriting, which is not limited to debt instruments, exclude financial institutions

) securities business license type D (ง); (5) securities business license in the category of investment advisory service; (6) securities business license in the category of securities borrowing and lending

possesses strong financial position and reliability. It is, therefore, deemed necessary to determine the minimum paid-up registered capital of such person.

securities company shall procure a source for borrowing securities in order to enable delivery of securities in the short sale items within the time period prescribed by the clearing house under the law on

) receivables of securities purchased to order; (6) margin loan receivables and securties borrowing receivables; (7) collateral receivables; (8) any other asset as stipulted by the SEC Office. “ general

Total Income 2. Expenses 2.1 Expenses on Borrowing 2.2 Fee and Service Expenses 2.3 Bad debt and doubtful accounts 2.4 Shares of loss of subsidiaries and affiliated 2.5 Operating expenses 2.5.1 Personnel

units or underlying shares of ETF for either its proprietary account or client’s account on the condition that it is the following cases: (1) being short selling by which borrowing such securities for