At the beginning of 2017, SEC held a public consultation on the proposed principal for revising information of the schemes and obligations of property funds and infrastructure funds. The business and investment communities duly gave comments.

This time, SEC makes eight revised draft notifications in accordance with the proposed principal. Regarding the management of property funds and the prospectus, the proposed amendments are made to align with the regulations on REITs and to correspond with the current rules which disallow the establishment of any more property funds. The proposed amendments for property funds include repealing the rules related to the fund establishment, requiring a work system to monitor unitholding to ensure compliance with rules on limitations of unitholding, repealing the requirement to have the fund supervisor approve a property insurance agreement, extending the income guarantee clause to cover an event of capital increase filing, and repealing the requirement to have the summary of key investment information sent to unitholders and SEC.

Meanwhile, the proposed amendments to the regulations related to the establishment and management of infrastructure funds and the prospectus are made them clearer and more appropriate. For example, requiring a work system to monitor unitholding to ensure compliance with rules on limitations of unitholding, allowing appropriate channels for the distribution of the investment prospectus, making the prospectus in the same format as the annual registration statement to make it convenient to produce the annual registration statement later. In case investors do not want the full prospectus, they must be given the summary of key investment information.

The consultation paper can be found at https://www.sec.or.th/hearing. Stakeholders and interested parties are welcome to give comments and suggestions via SEC’s website, or telephone at 1207, 0-2033-9999, or facsimile at 0-2033-9660 or email: varinkan@sec.or.th. The public hearing ends on 20 December 2018.