the SEC Office, the SEC Office shall have the power to grant the securities company a temporary or permanent exemption from appointment of independent directors as prescribed in Paragraph 1. In such

Office shall have the authority to exempt the derivatives broker from the requirement of the proportion of independent directors in Paragraph 1 on a temporary or permanent basis. In this regard, the SEC

with the professional standards on a continuous basis. Such audit quality control system complies with the Thai standards on quality control issued by the Federation of the Accounting Professions (FAP

control system which is sufficient and reliable for supervising its auditors’ work to comply with the professional standards on a continuous basis. Such audit quality control system complies with

: (a) having a net asset value of seventy million baht or more, excluding the value of the property used as a permanent residence of such person; (b) having annual income of ten million baht or more, or

securities trading center; (d) having a plan to report the results of the experiment and progress of service provision to the SEC Office on a continuous basis; (e) having a clear exit strategy in case of

Exchange Commission. Clause 3. An applicant seeking an approval to act as a mutual fund manager shall have the following qualifications; (1) Being a permanent staff member who is able to work full-time for a

branch office and shall clearly place a notice board at such branch office for at least thirty days. Clause 12. Upon occurrence of the following incidents, the Office may order a temporary or permanent

management company appoint its permanent employee to be Property Fund Manager, such person shall hold the position with either of the following characteristics: (a) not causing any conflicts of interest with

outstanding shares are held by the company under (a); (c) Any company whose shares are held in continuous chain beginning from the company whose shares are held by the company under (b), provided that the