approval in that specific case and that the benefit to be gained does not worth the cost to be incurred in complying with the said rules or conditions; (2) the management company is subject to restrictions

High Net Worth Investor and High Net Worth Investor . Clause 3 A securities business license applicant and licensee shall have paid-up registered capital of no less than the following amounts: (1) one

investment management of mutual fund for institutional investors or ultra- ultra-high net worth investors (Ultra Accredited Investor Mutual Fund) which implements an investment strategy similar to that of a

reference. PAGE 4 Notification of the Capital Market Supervisory Board No. Tor Nor. 89/2558 Re: Rules for Management of Retail Funds, Mutual Funds for Accredited Investors, Mutual Funds for Institutional

and Exchange Commission No. Kor Jor. 4/2560 Re: Determination of the Definitions of Institutional Investor, Ultra-high Net Worth Investor and High Net Worth Investor ___________________________ By

demonstrating a comparison between the laws and regulations of Home and Host regulators relating to management of NRI CIS ( issued by CIS Operator ) 9. A fee of THB100,000 (VAT exclusive) payable in the form of

securities dealing under foreign law; (5) “ retail client ” means a client who is not an institutional investor or a high net worth investor; (6) “ institutional investor ” means an institutional investor as

reference. 14 Notification of the Capital Market Supervisory Board No. TorThor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating Systems, and Providing Services to Clients of

, departmental director or any equivalent position called otherwise, and shall include a person having entered into an agreement for full or partial power of management. “ general investor ” means an investor who

Capital Market Supervisory Board No. TorThor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating Systems, and Providing Services to Clients of Securities Companies and Derivatives