the duties of fund supervisor correctly and completely; 3. Systems for supervising the custody agent to perform the duties delegated by the registered person, as specified by the Notification of the

Section 121 Securities and Exchange Act B.E. 2535 Section 121. A mutual fund supervisor shall be a commercial bank or a financial institution which has qualifications as specified in the notification

which is in the same financial conglomerate, and provided that such supervisor is not a securities company or a derivatives broker which has been granted an exemption from the requirement of independent

of Securities and Exchange Commission No. SorNor. 45/2541 Re: Qualifications of Mutual Fund Supervisors (No.3) dated 4 November 1998. Clause 2 . In this Notification: “Fund supervisor” means the mutual

mutual fund management company and a mutual fund under its management may be executed only when necessary and appropriate, and upon written approval of the mutual fund supervisor prior to entering into

investment units, established and managed by a management company. “Fund supervisor” means the fund supervisor of a closed-end fund. “Office” means the Office of the Securities and Exchange Commission. Clause

of the increase or decrease in the number of investment units. “Scheme” means an open-end fund management scheme. “Fund supervisor” means the fund supervisor of an open-end fund. “Office” means the

business growth rate in 3-5 years 2. The executive should prescribe key policies in supervising the undertaking of fund management business in writing with an approval from the board of directors of the

clients, an intermediary shall comply with the rules prescribed in Chapter 1/1 of this Notification as well as have operating systems for supervising the procedure of such communication and service

and may engage in the affiliated transaction for the fund only when an approval is granted by the mutual fund supervisor for the case specified in Clause 14, the conditions specified in Clause 15 are