At present, any revisions or modifications to the TFF project are required to seek the resolution of unitholders*, which, in practice, may hinder such revisions or modifications in certain cases—for example, those made to ensure that information remains accurate and up to date, or those intended to provide additional benefits to unitholders. This requirement also gives rise to cost burdens for the fund associated with the process of seeking the unitholders’ resolution.

Accordingly, the SEC has proposed amendments to the aforementioned regulations in order to facilitate more flexible fund management and reduce the cost burden of the TFF, while continuing to uphold the principles of good governance and appropriate protection of unitholders’ rights. Under the proposal, amendments to a mutual fund management project in the following cases shall be deemed to have been approved by the SEC Office**:

             (1) amendments to information that clearly result in additional benefits for all unitholders and do not prejudice unitholders’ rights;
             (2) amendments made to comply with the Securities and Exchange Act and other relevant laws;

             (3) amendments to correct and update the names and other details of any persons; and
             (4) amendments to the TFF project to include required information in accordance with the Notification of the SEC Office***.

The consultation paper is available on the SEC website (www.sec.or.th) at https://www.sec.or.th/EN/Pages/PB_Detail.aspx?SECID=1163  and on the Legal Hub (https://law.go.th/) at https://law.go.th/listeningDetail?survey_id=NzEyNURHQV9MQVdfRlJPTlRFTkQ=  Stakeholders and interested parties are invited to submit comments via the SEC website or by email to fundraisingpolicy@sec.or.th. The public hearing ends on 15 June 2026.

Notes:

* Excluding amendments to a mutual fund project as specified under Section 129/1 (1)–(3) of the Securities and Exchange Act B.E. 2535 (1992) (SEA), for which the asset management company may seek approval of the SEC Office in lieu of seeking the resolution of the unitholders.

** Pursuant to Section 129/1 (4) of the SEA, for a revision or modification of a mutual fund project or revision to the management procedure in the manner specified by the notification of the SEC Office, the securities company may seek an approval of the SEC Office in lieu of seeking the resolution of the unitholders.

*** Notification of the Office of the Securities and Exchange Commission No. Sor Nor. 15/2559 Re: Details of Thailand Future Fund Management Scheme, dated 27 April 2016.