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Finance Ministry requests another public hearing on CMDF establishment



Monday 13 November 2017 | No. 114 / 2017



Bangkok, 13 November 2017 ? In response to the Ministry of Finance's request, the SEC is conducting another public hearing on the draft amendment to the Securities and Exchange Act B.E. 2535 (1992) concerning the establishment of the Capital Market Development Fund (CMDF). This second consultation focuses on revising the CMDF's objectives to include necessary financial support for the Stock Exchange of Thailand (SET).

The first hearing conducted earlier in the month of June attracted various, useful comments from organizations and stakeholders, which has led to revision to certain provisions in the key areas, namely: (1) the CMDF shall be established as a separate juristic person, not a government agency, and shall manage its operation independently from the SET, (2) an initial fund of 5.7 billion baht shall come from SET's money or liquid assets, (3) the SET shall make an annual contribution to the CMDF at an amount not less than 90 percent of the SET's net income after tax and deduction of reserve for investment upon approval of the SET Board of Governors, and (4) the composition of the CMDF Board shall be restructured. 

The received public comments and the Ministry of Finance's resolution from the previous hearing are available in the appendix of this consultation at http://capital.sec.or.th/webapp/phs/upload/phs1510556854hearing_38_2560_S01.pdf.

This current hearing, as requested by the Finance Ministry, focuses on the additional objective of the CMDF establishment ? permission for the CMDF to give financial support for the SET as deemed necessary to ensure the bourse's ability to maintain its competitiveness and financial security, and to strengthen the overall market stability.

The consultation paper on the draft amendment to the SEA regarding the CMDF establishment and the details thereof are available at http://capital.sec.or.th/webapp/phs/upload/phs1510556854hearing_38_2560.pdf. Stakeholders and interested parties are welcome to submit their comments via email: msec@sec.or.th or facsimile at 0-2263-6074.


The public hearing ends on 28 November 2017.

 

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Building Confidence in the Capital Market
NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 114 / 2017 Monday 13 November 2017
Finance Ministry requests another public hearing on CMDF establishment


Bangkok, 13 November 2017 ? In response to the Ministry of Finance's request, the SEC is conducting another public hearing on the draft amendment to the Securities and Exchange Act B.E. 2535 (1992) concerning the establishment of the Capital Market Development Fund (CMDF). This second consultation focuses on revising the CMDF's objectives to include necessary financial support for the Stock Exchange of Thailand (SET).

The first hearing conducted earlier in the month of June attracted various, useful comments from organizations and stakeholders, which has led to revision to certain provisions in the key areas, namely: (1) the CMDF shall be established as a separate juristic person, not a government agency, and shall manage its operation independently from the SET, (2) an initial fund of 5.7 billion baht shall come from SET's money or liquid assets, (3) the SET shall make an annual contribution to the CMDF at an amount not less than 90 percent of the SET's net income after tax and deduction of reserve for investment upon approval of the SET Board of Governors, and (4) the composition of the CMDF Board shall be restructured. 

The received public comments and the Ministry of Finance's resolution from the previous hearing are available in the appendix of this consultation at http://capital.sec.or.th/webapp/phs/upload/phs1510556854hearing_38_2560_S01.pdf.

This current hearing, as requested by the Finance Ministry, focuses on the additional objective of the CMDF establishment ? permission for the CMDF to give financial support for the SET as deemed necessary to ensure the bourse's ability to maintain its competitiveness and financial security, and to strengthen the overall market stability.

The consultation paper on the draft amendment to the SEA regarding the CMDF establishment and the details thereof are available at http://capital.sec.or.th/webapp/phs/upload/phs1510556854hearing_38_2560.pdf. Stakeholders and interested parties are welcome to submit their comments via email: msec@sec.or.th or facsimile at 0-2263-6074.


The public hearing ends on 28 November 2017.

 

______________________