-Unofficial Translation-
Ministerial Regulation
Concerning Approval for Undertaking of Securities Business
in the Category of Securities Finance Business
B.E. 2555
By the virtue of the first paragraph of Section 7 and the fourth paragraph
of Section 90 of the Securities and Exchange Act B.E. 2535 which is an Act containing
provisions in relation to restrictions of rights and liberties of persons, in respect of
which Section 29 in conjunction with Section 33, Section 34, Section 41, Section 43,
Section 44 and Section 64 of the Constitution of the Kingdom of Thailand allow to be
done by provisions of law, Finance Minister issues regulations as follows:
Clause 1 The following Ministerial Regulations shall be repealed;
(1) The Ministerial Regulation No. 7 (B.E. 2539) promulgated under
the Securities and Exchange Act B.E. 2535;
(2) The Ministerial Regulation No. 20 (B.E. 2545) promulgated under
the Securities and Exchange Act B.E. 2535.
Clause 2 An applicant for securities business license in the
category of securities finance business shall be limited company or public limited
company newly established for the purpose of applying for securities business
license in the category of securities finance business and shall have shareholding
structure and shareholding proportion in such company as specified by the SEC.
This English version is prepared by Legal Counsel and Development Department with the sole
purpose of facilitating the comprehension of foreign participants in rules and regulations
promulgated under the Securities and Exchange Act B.E. 2535 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 the translation has not been subjected to an official review by the SEC Office.
The SEC Office, accordingly, cannot undertake any responsibility for its accuracy, nor be held
liable for any loss or damages arising out of or in connection with its use.
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Clause 3 Any person intending to apply for securities business
in the category of securities finance business shall file an application with the SEC
Office, providing that such application shall be in form and attached with
supplementary documents as specified by the SEC.
When received the application filed under the first paragraph together
with complete supplementary documents, the SEC Office shall submit [such
application] to the SEC for consideration.
Clause 4 In case where the SEC is of the view that the applicant
under Clause 3 has specified qualifications, the SEC shall recommend the Minister to
make consideration regarding issuance of license within ninety days from the date
on which the SEC Office receives complete application and supplementary
documents. The Minister shall complete his consideration within sixty days from the
date of receiving the SEC’s recommendation.
Securities business license in the category of securities finance
business shall be in form specified by the SEC.
Clause 5 In issuance of securities business license in the category of
securities finance business, the Minister shall prescribe a condition specifying that
the licensee shall maintain shareholding structure and shareholding proportion as
specified by the SEC no less than five years from the date of obtaining the license
shall undertake business operation in accordance with criteria, conditions and
procedures as specified by the Capital Market Supervisory Board.
In case of necessity, the Minister upon the SEC’s recommendation may
grant a waiver to shorten the specified period for maintenance of shareholding
structure and shareholding proportion.
Clause 6 Fees shall be prescribed as follows:
(1) Application for securities business license
in the category of securities finance business
Baht 10,000;
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(2) Securities business license in the category of
securities finance business
Baht 10,000.
The licensee shall pay fee for securities business license on the date of
obtaining the license.
Clause 7
The licensee to undertake securities business in the
category of securities finance business prior to the date on which this Ministerial
Regulation comes into force shall be entitled to continue undertaking the licensed
securities business under the conditions prescribed under such license, providing
that [the licensee] shall comply with criteria, conditions and procedures specified by
the Capital Market Supervisory Board under this Ministerial Regulation.
Clause 8
The application which has been filed prior to the date on
which this Ministerial Regulation comes into force shall be deemed as the
application filed under this Ministerial Regulation, mutatis mutandis.
Clause 9 All notifications of the SEC and the SEC Office issued
by virtue of the Ministerial Regulation No. 7 (B.E. 2539) promulgated under
the Securities and Exchange Act B.E. 2535, which have been in effect prior to the
date on which this Ministerial Regulation comes into force, shall remain in force
until the notifications otherwise issued under this Ministerial Regulation.
Given on the date of 26th December, 2012
Kittiratt Na-Ranong
Finance Minister