Chapter 7
Institutions Related to Securities Business
 
Division 2
Associations Related to Securities
B
usiness
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Section 230.
 
 
Securities companies may jointly establish an association related to securities business with an object of promoting, without seeking profit or sharing income among themselves, securities business, only by virtue of the provisions of this Act.
 
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Section 231.
 
 
The establishment of an association related to securities business shall require a license from, and be registered with the Office.
 
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Section 232.
 
 
In applying for a license and for registration, not less than fifteen securities companies who are the founders of the association shall submit the application to the Office in accordance with the rules and procedures as specified in the notification of the SEC.

In considering the application for the establishment of an association related to securities business, the Office shall have the power to issue a written order summoning any person to come forward for an enquiry or requiring the delivery of any documents.
 
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Section 233.
 
 
The licensed and registered association related to securities business shall be a juristic person.
 
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Section 234.
 
 
An association related to securities business shall have its regulations and such regulations shall at least contain the following particulars:
(1) name;
(2) object;
(3) location of the office;
(4) procedures for admission, rights and duties of members;
(5) disciplines and punishment of members;
(6) the operation of the association related to securities business, appointment and vacation of office as well as the meetings of directors including general meetings;
(7) other regulations as specified in the notification of the SEC.

Regulations of an association shall be submitted for registration with the Office together with the application for a license to establish an association related to securities business. Prior to the granting of a license, if the Office deems appropriate, it may order the alteration and modification of the regulations.
 
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Section 235.
 
 
Members of an association related to securities business shall only be securities companies.
 
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Section 236.
 
 
The name of an association related to securities business shall be the name as appears in the regulations only, and the name shall not use the phrase "of Thailand" or any other phrases with similar meaning constituting the name of the association related to securities business.
The association related to securities business shall have a clearly stated name plate placed in front of its office.
 
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Section 237.
 
 
Relevant provisions in the law relating to trade associations concerning the operation, control, dissolution and the related penalty provisions shall apply mutatis mutandis to the extent that they are not contrary to or inconsistent with the provisions of this Division. In this regard, the word "SEC" shall be substituted for the word "Minister", the word "Office" for the word "registrar", the words "association related to securities business" for the words "trade association" and the powers and duties of a competent officer in accordance with the law relating to trade associations shall be the powers and duties of a competent officer under this Act.