action or to refrain from any action, in following cases: (1) The actual objective or substance of m anaging the mutual fund constitutes an avoidance of the provisions or the rules. (2) The management of
investment units shall not be concentrated in the holding of any individuals or any groups of persons which could exercise power over fund management and exploit the fund for own benefits such as tax avoidance
SET's operations and will be a director, ex officio. The SEC supervises SET which covers the following three areas: The conduct of other businesses must be approved by the SEC Board. Issuance of rules