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Regulations

Business Operator


 

A Settlor of an Infrastructure Trust ​


 

A settlor (after settling of a trust will manage the trust, thereby called a trust manager) assumes crucial roles starting from establishing a trust, to filing an application with the SEC for approval of an offer for sale of units of the trust, and to managing the trust. 


 

Regulatory Summary 


 

 

Qualification

 

  • Being an asset management company or a non-asset management company

  • No records of infringements or negligence of material issues pertaining to rules for approval of offer for sale of units of the trust within five years before submitting the application

  • Obtaining approval from the SEC, thereby in readiness of work systems and personnel capacity to continuously and reliably manage the trust according to the trust instrument.

  • ​In case of a non-asset company, the SEC prescribes additional requirements as follows:  ​

    • ​​A paid-up capital of not less than 10 million baht 

    • The number of independent directors at a minimum of one-third of the board of directors       

    • A minimum number of two Thai national directors (one of the two must be an independent director)


       

 

Main duties of a Trust Settlor/Trust Manager​ 

  • Apply for approval of an offer for sale of units with the SEC​

  • Formulate strategies and operational plans of the trust  

  • Invest and seek to generate benefits from the property

  • Manage the trust according to the trust instrument and relevant laws  

  • Calculate and disclose the asset value of the trust and the units

  • Maintain the property in a ready condition to seek for benefits

  • Consider distribution of profit shares to the trust unitholders

  • Organize meetings of the trust unitholders annually, and by request of the unitholders​


 

Related Rules and Regulations 


For More Information

Corporate Finance Department 1-3​

Tel. +66​-2033-9694