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

a derivatives intermediary. “ client ” means a person who uses or will use services relating to securities businesses from a securities company or derivatives business from a derivatives intermediary

) demonstrating that it will have availability of personnel for business of precious metal derivatives brokerage . Chapter 2 Submitting Application and Fees _________________ Clause 5 An applicant shall submit an

Business in the Category of Derivatives Brokerage Limited to Gold Derivatives dated 14 November 2008 shall be repealed. Clause 2 In this Notification: (1) “ precious metal derivatives brokerage ” means

dated 15 September 1992 shall be repealed. Clause In this Notification: “ Office ” means the Office of the Securities and Exchange Commission. Clause 2/1 This Notification shall not apply to the

1 Organizational Structure, Operating System and Operational Control Clause 2 In undertaking the derivatives business, a derivatives dealer shall set up organizational structure, operating systems and

that the derivatives fund manager will appropriately manage the investments for investors to protect and maintain the best interest of investors under acceptable risk exposure, it is necessary that the

membership because of death, if the employee did not, by a will or in writing delivered to the fund manager, designate a person who shall receive the payment out of the fund, or has designated the person but

any person, the applicant will be informed in writing and reasons shall also be provided. The Office may notify the applicant to clarify or submit additional documents evidence as appropriate within the

dated 6 February 2008 shall be repealed. Clause 2. In this Notification: (1) “Advertising” means communication made to the public regarding sales promotion of investment units, services or fund management