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 

• ​Qualifications 
• Main duties of a Trust Settlor/Trust Manager  

Qualifications 

• 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​

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