national economy. At present, there are six legislations administered by the SEC, namely: the Securities and Exchange Act of 1992 ; the Derivatives Act of 2003 ; the Trust for Transactions in Capital Market
Regulation. Clause 2 Applicant for securities business license in the category of investment advisory service which is a legal entity under Clause 1(1) to (5) shall- (1) be able to maintain capital funds and
insurance company licensed under law on commercial banking or law on life insurance, as the case may be, such applicant shall- (1) be able to maintain capital funds and set aside reserve capital in accordance
appraisal, including operational system to ensure that it would be able to comply with standards and ethics regarding appraisal profession for widely used appraisal; Having experience in appraisal services
category of venture capital management; (2) have objectives limited to operating securities business in the category applying for the license, and other businesses as permitted by the SEC; (3) be able to
less than 10 million baht The number of independent directors at a minimum of one-third of the board of directors A minimum number of two Thai national directors (one of the two must be an
life insurance, as the case may be, such applicant shall- (1) be able to maintain capital funds and set aside reserve capital in accordance with law controlling business undertaking of such legal entity
operating securities business in the category applying for the license, and other businesses as permitted by the SEC; (3) be able to show that its operational system will be prompt for operating securities
of total shares sold of such legal entity; (3) 2 have objectives to operate securities business in the category as applying for license and other activities as permitted by the SEC; (4) be able to show
directors, a least two Thai-national directors (one in these two directors must be an independent director) Trustee's duties A trustee shall have a trustee license and is independent from a trust manager