have Thai nationality, members of the SET may elect not more than two persons as directors of the SET. 3.5 Extending directors’ term of office The directors, except manager of the SET, shall hold office
certificates representing the rights to purchase debentures issued in accordance with Section 33 shall be valid upon delivery of such securities with the endorsement of transfer by a person having his name as
rights to purchase debentures issued in accordance with Section 33 shall be valid upon delivery of such securities with the endorsement of transfer by a person having his name as the owner or by the last