Securities and Exchange Act (No. 3) B.E. 2546 (2003)

1 (Unofficial Translation)* Securities and Exchange Act (No. 3) B.E. 2546

BHUMIBOL ADULYADEJ, REX., Given on the 3rd day of July B.E. 2546; Being the 58th Year of the Present Reign. His Majesty King Bhumibol Adulyadej is graciously pleased to proclaim that: Whereas it is expedient to amend the law on securities and exchange; Be it, therefore, enacted by the Majesty the King, by and with the advice and consent of the Parliament, as follows: SECTION 1. This Act shall be called the "Securities and Exchange Act (No.3), B.E. 2546". SECTION 2. This Act shall come into force from the day following the date of its publication in the Government Gazette. SECTION 3. The definition “mutual fund management” in Section 4 of the Securities and Exchange Act B.E. 2535 shall be repealed and replaced with the following provision: “"mutual fund management" means the management of investments under a mutual fund project by issuing investment units of each project for sale to the public and bringing proceeds thereform to invest in, or procure for profit from holding in, securities, derivative, or any other properties, or invest in or procure for profit by other means.”

• 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 responsibility for its accuracy nor be held liable for any loss or damages arising from or related to its use.

2 2 SECTION 4. The provision in (5) of Section 126 of the Securities and Exchange Act B.E. 2535 shall be repealed and replaced with the following provision: “(5) borrowing in the name of the mutual fund or creating any encumbrances on the assets of the mutual fund, except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 rules, conditions and procedures as specified in the notification of the SEC.” Countersigned by: General Chavalit Yongjaiyuth Prime Minister