have Thai nationality, members of the SET may elect not more than two persons as directors of the SET. 3.5 Extending directors’ term of office The directors, except manager of the SET, shall hold office

provision: “(5) borrowing in the name of the mutual fund or creating any encumbrances on the assets of the mutual fund, except entering into derivative or engaging in the transaction in accordance with the

service provided by a derivatives business operator; (2) “customer asset” means: (a) asset which a derivatives business operator received or held as performance bond for derivatives transaction for the

service provided by a derivatives business operator; (2) “customer asset” means: (a) asset which a derivatives business operator received or held as performance bond for derivatives transaction for the

any transaction which provides financial benefits for such person, the director, the executive or the person under (1) or (2) will also gain financial benefits, the said person shall be deemed as the

transaction in the capital market. “project” means a securitization project. “SEC” means the Securities and Exchange Commission under the law governing securities and exchange. “the SEC Office” means the Office

trust owed to the trust by the third person. The set-off in contravention of the first paragraph is void. SECTION 33 In making a juristic act or a transaction with a third person, a trustee shall notify

act or a transaction with a third person, a trustee shall notify the third party in writing that it acts in trusteeship and expressly stipulates the information as such in the evidence of the juristic

In making a juristic act or a transaction with a third person, a trustee shall notify the third party in writing that it acts in trusteeship and expressly stipulates the information as such in the

a special juristic person for the purpose of securitization. “trust” means trust in accordance with law governing trust for transaction in the capital market. “project” means a securitization project