period of time that the SEC could refuse to accept the application. Lead appraiser Being full time casual worker or employee of the applicant; Practicing on asset appraisal continuously for not less than 1

morality, the SEC has the power to refuse registering the persons as directors of the association. When it is apparent that the board of directors, directors or members of the associations undertake any

business relationship, investment, or administration and management of the issuer, for example, customers, suppliers of raw materials, potential business partners of the issuer, the affiliated companies of

securities company shall allow any person to have control over its administration or management except for exercise of shareholder’s right in shareholder meeting or management under agreement approved by the