expenses, provided that the expenses are limited only to expenses relating to the business operation; (3) ten percent of the average annual income but not exceeding five million baht, provided that the

and Section 28 of the Derivatives Act B.E. 2546 (2003) , which contains certain provisions related to the restriction of rights and liberty of persons, which Section 29 in conjunction with Section 35

Clause 3; “ fee ” means a fee for undertaking business according to license; “ income ” means an income before deducting expenditures from undertaking business according to license; “ investment unit ”4

Securities Companies _____________________ By Virtue of Section 106 of the Securities and Exchange Act B.E. 2535 (1992) which contains certain provision relating to restriction of rights and liberties of

139(4) of the Securities and Exchange Commission Act B.E. 2535 (1992) as amended by the Securities and Exchange Commission Act (No.2) B.E. 2542 (1999) which contains certain provisions in relation to

certain provisions in relation to the restriction of rights and liberty of persons which Section 29 in conjunction with Section 33, Section 34, Section 41, Section 43, Section 44 and Section 64 of the

Exchange Act B.E. 2535 (1992) which contain certain provisions in relation to the restriction of rights and liberties of persons which Section 29, in conjunction with Section 33, Section 34, Section 41

profit or sharing income among themselves, securities business, only by virtue of the provisions of this Act.

Securities and Exchange Act (No. 4) B.E. 2551 (2008) which contains certain provisions in relation to the restriction of right and liberty of person which Section 29 in conjunction with Section 33, Section 34

amend by the Derivatives Act (No. 2) B.E. 2551 (2008) which contains certain provisions in relation to the restriction of right and liberty of person which Section 29 in conjunction with Section 33