- Applicable to the offering of bonds only.

- For the offering of bonds, the approval will be granted upon the registration of the transfer restriction, features of bonds, draft terms and conditions and a bondholders' representative appointment agreement (in case of secured bonds/ bonds with a bondholders' representative). (Original requirements)

- Applicable to the offering of bonds only.

- Application shall be submitted for an approval. The following qualifications will be considered:

1. Financial statements shall be prepared in accordance with the Thai Financial Reporting Standards for Publicly Accountable Entities (PAEs) or with other standards pursuant to the notification[1] (in case of foreign companies).

2. The issuers shall not fail to file the financial statements or related reports to the SEC/ SET.

3. In case of Thai companies,

3.1 The directors and executives shall be listed on the database of directors and executives of the securities issuing companies.

3.2 The controlling persons shall not have any of the untrustworthy characteristics.

4. In case of foreign companies,

4.1 Offering of the bonds is legally made under the foreign laws and regulations.

4.2 Representative is appointed in Thailand throughout the term of the bonds.

4.3 There is no ground to suspect that the lead regulator of the capital market of the country wherein the issuer is established is unable to provide an assistance to the SEC Office.

5. No record of breaches of regulations and laws (i.e. being currently subject to a criminal complaint or legal prosecution for an offense concerning property by a relevant agency, only for a cause arising from a deceitful, fraudulent or dishonest act, or having an application for an offer for sale of newly issued securities rejected by the SEC Office on a suspicious ground related to disclosure of information to the public and such information was incomplete, contrary to facts, insufficient for making an investment decision, or misled investors in a manner of concealing or disguise or making up non-existing facts.

6. No grounds to suspect that the directors, executives,

and major shareholders having other interest which may be in conflict with the best interest of the business or having benefits transferred from the business.

7. Not being in default om principal or interests of any debt securities or in default on a loan payment.

8. Not being in breach of the terms and conditions of the debt securities.

9. within two years prior to the filing of the application for an approval, the applicant has never breached any provisions on the use of proceeds of the bonds

30,000 baht/ 2 years (MTN)

or 30,000 baht/ each application (Issue basis)