-Unofficial translation-
The Notification of the Ministry of Finance
Re: Prescription of Other Securities Related Businesses as Securities Business
(As amended)
 

 

By virtue of Section 4 of the Securities and Exchange Act B.E. 2535, Finance Minister prescribes the Ministerial Regulation as follows:

 

 

Clause 1 "Undertaking securities borrowing and lending business" shall be prescribed as securities business under (7) of the definition of "securities business" in Section 4 of the Securities and Exchange Act B.E. 2535.

 

Clause 2 Undertaking securities borrowing and lending business under Clause 1 means providing service, in normal course of business, to general public with a view to effectuating securities borrowing and lending, regardless of whether such service provider is borrower's or lender's counter party of agent.

Undertaking securities borrowing and lending business under the first paragraph shall, however, not include the followings:

       (1) being a counter party to licensee to operate securities business in the category of securities borrowing and lending or securities depositary center, if such arrangement is made for such counter party's own benefit or in capacity of an agent of a non-resident third party;

       (2) providing service of securities borrowing and lending by securities depositary center to its members, if securities depositary center complies with Notification relating to undertaking securities borrowing and lending business applicable to undertaking of securities business in such category.

1For the purpose of specifying general obligatory characteristics between the parties, "agreement on securities borrowing and lending made in connection with undertaking securities borrowing and lending business under the first paragraph" means agreement whereby one party called "lender" transfers securities to the other party called "borrower", under arrangement of which borrower agrees to subsequently transfers securities issued by the same legal entity or investment management project, in the same type, issue, features and comparable quantity to lender.

 

Clause 3 This Notification shall come into force on the date following its publication in the Government Gazette.

 


Given on the date of 27th February B.E. 2540

Amnuay Veeravan

Finance Minister

  

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1Added by The Notification of the Ministry of Finance Re: Prescription of Other Securities Related Businesses as Securities Business (No.2) dated 26th June B.E. 2540

 

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