-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
This English
version is prepared by Legal Department with the sole purpose of facilitating
the comprehension of foreign participants in the SEC’s rules and regulations and
shall not in any event be construed or interpreted as having effect in
substitution for or supplementary to the Thai version thereof.
Please note that
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