possessing the prohibited characteristics as specified in Chapter 3; (c) having obtained an approval from the SEC Office prior to performing function, unless the intermediary is a financial institution

prohibited characteristics as specified in Chapter 3; (c) having obtained an approval from the SEC Office prior to performing function, unless the intermediary is a financial institution established under

to undertake securities business under the first paragraph may be commenced after having been given an approval of the Minister upon the recommendation of the SEC. A merger of securities companies

; (6) private fund management; (7) other businesses relating to securities as specified by the Minister upon recommendation of the SEC. "securities brokerage" means brokering or representing any person

function under Clause 8 to the following third party without submitting an application for obtaining the approval under Clause 12: (1) a financial institution, or the intermediary ’s affiliated company whose

management or risk management of such investments, whether or not it is a central utility function and at any level, there shall be a procedure for requesting an approval from the intermediary’s board of

________________________ By virtue of Paragraph 1 of Section 109 and Paragraph 1(2) of Section 141 of the Securities and Exchange Act B.E. 2535 (1992) , with the approval of the Capital Market Supservisory Board, Section19

upon the recommendation of the SEC has the power to specify conditions with which the license holder shall be required to comply in the undertaking of the securities business. In cases where there has

/254 7 Re: Application Form for Approval of Private Fund Custodian and Supporting Documents By virtue of Clause 8 and the second paragraph of Clause 11 of the Notification of the Securities and Exchange

, conditions and procedures as specified in the notification of the SEC upon the recommendation of the Bank of Thailand.