Translation (Translation) PAGE (Translation) -29- Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. The SEC

Translation (Translation) Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. The SEC, Thailand cannot undertake any

Office. It is important to note that this is an unofficial English translation which has not been subjected to an official review by the SEC Office. Readers should be aware that only the original Thai text

the following acts unless having improve the adequacy in accordance with the prescribed rule: (1) providing service for a new customer; (2) extending the period of service to a former customer; (3

2003. (Translation) -3- Clause 2.3 In providing investment advisory service, the investment advisory company shall at least undertake to act as follows; provided that if it intends to arrange a mutual

of interest and other encumbrance. Where there is a disclosure of the investment portfolio, it should be disclosed to all investor equally; (3) Using of adequate and reliable information, documents or

Translation (Translation) PAGE (Translation) -45- Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. The SEC

, it shall demonstrate such other expenses as a solely item separate such items solely and demonstrate subsequent to the item No. 2.5.4. (Translation) -23- 3. Income (Loss) before income tax means total

3. For a private fund management company which has a license to conduct another securities business, if the company has been permitted by the Office to establish a full-service branch office for the

Dealing which are not Debt Instruments (No. 8) dated 28 February 2005. (Unofficial Translation) Page 3 of 12 Clause 3. In this Notification, the provisions relating to a company licensed to undertake