The determination or alteration and modification of the rules or regulations under (2), (3), (4),
(8), (9), (10), (11), and (12) shall require the prior opinion from the meeting of the members
and the determination or alteration and modification of the rules or regulations under (1), (2),
(3), (4), (5), (6), (7), (11) and (17) shall come into force only after an approval has been given
by the SEC.
SECTION 170/1.4 In cases where it is evident to the SEC that the rules of the Securities
Exchange may cause damage to or prejudice the public interest or insufficient to protect and
maintain investor confidence, the SEC shall have the power to order the Securities Exchange
to issue additional rules or revoke, alter or modify the existing rules.
SECTION 171. The board of directors of the Securities Exchange shall have the power to:
(1) accept as listed securities the securities which are qualified in accordance with the
rules, conditions and procedures concerning the acceptance of listed securities under
Section 170(1);
(2) temporarily suspend the trading of any listed securities in the Securities Exchange for
a specified period deemed as reasonable;
(3) temporarily prohibit any member from trading listed securities in the Securities
Exchange for a specified period deemed as reasonable;
(4) withdraw the listed securities from the Securities Exchange in accordance with the
rules, conditions and procedures concerning the withdrawal of listed securities under
Section 170(1).
The Securities Exchange shall post the announcement of the acceptance and withdrawal of
listed securities in a prominent place at the office of the Securities Exchange and shall
disclose the matter to the public prior to date on which such securities are accepted as or
withdrawn from being listed securities.
SECTION 172. In order that the operation of the Securities Exchange may proceed in an
orderly manner and in order to protect the interests of investors, the board of directors of the
Securities Exchange shall have the power to order a company whose securities are listed in
the Securities Exchange to do any act or omit to do any act concerning any matter which is
necessary and reasonable.
In cases where a company whose securities are listed in the Securities Exchange fails to
comply with the order of the board of directors of the Securities Exchange referred to in the
first paragraph, the board of directors of the Securities Exchange may exercise the power
under Section 171(2) or (4).
SECTION 173. In cases where the board of directors of the Securities Exchange has
ordered a withdrawal of any listed securities due to the failure of the company to comply with
the order given under Section 172, the holders of such withdrawn securities have the right to
claim compensation from the director, manager or person responsible for the operation of
such company who has caused the failure to comply with such order.
The holder of securities who has the right to claim compensation as referred to in the first
paragraph shall have acquired such securities prior to withdrawal of such listed securities and
shall neither have participated in nor given approval and permission to act against such order.
SECTION 174. The liability for compensation as referred to in Section 173 shall be equal
to the reduction in the value of securities from the last selling price of such securities in the
Securities Exchange.
SECTION 175. The Securities Exchange shall have the power to file a claim in court for
compensation as referred to in Section 174 for the benefit of the securities holders as a whole.
SECTION 176. The board of directors of the Securities Exchange shall have the power to
appoint a sub-committee of the Securities Exchange to perform any matter of the Securities
Exchange as assigned by the board of directors of the Securities Exchange, and for this
purpose the provisions of Section 12 shall apply mutatis mutandis.
The sub-committee of the Securities Exchange shall receive remuneration as specified by the
board of directors of the Securities Exchange.
SECTION 177. The chairman, vice-chairman and directors of the Securities Exchange
shall receive remuneration as specified at a meeting of members of the Securities Exchange.
DIVISION 3
OPERATION
SECTION 178. The board of directors of the Securities Exchange shall submit to a
meeting of members of the Securities Exchange within four months from the end of the
calendar year a balance sheet and an annual income and expense account duly certified by the
auditor.
SECTION 179. The meeting of members of the Securities Exchange shall appoint an
auditor from among the persons nominated by the board of directors of the Securities
Exchange and shall determine the remuneration for such auditor.
The auditor shall be a licensed auditor under the law relating to auditors and shall not be a
director, manager, officer or employee of the Securities Exchange.
SECTION 180. The auditor shall have the power to examine all accounts and documents
of the Securities Exchange and may require further explanation from the directors, manager,
officers or employees of the Securities Exchange.
SECTION 181. 4 The board of directors of the Securities Exchange shall submit to the
SEC Office a balance sheet with an annual income and expense account as well as prepare
reports and submit documents to the SEC Office in accordance with the rules, conditions and
procedures as specified by the Capital Market Supervisory Board.
SECTION 182. The Securities Exchange shall pay money for the purpose of facilitating
the operation of the SEC Office at the rate specified by the SEC.
SECTION 183. In order to protect the benefit or interests of the public, the Securities
Exchange or any person authorized by the board of directors of the Securities Exchange shall
have the power to disclose information of a company whose securities are listed in the
Securities Exchange or of a securities company which is a member of the Securities
Exchange to the public in accordance with the rules, conditions and procedures as specified
by the board of directors of the Securities Exchange.
SECTION 184. The purchase or sale of listed securities in the Securities Exchange shall
be conducted by a securities company which is a member of the Securities Exchange.
In the purchase or sale of securities as referred to in the first paragraph, a member may act as
a broker or agent for any person or securities company which is not a member.
4For the purchase or sale of listed securities on the Securities Exchange which are not shares,
the Board of directors of the Securities Exchange may allow a person other than the securities
company which is a member of the Securities Exchange to conduct the purchase or sale of
such listed securities.
SECTION 185. No member of the Securities Exchange shall purchase or sell listed
securities outside the Securities Exchange regardless of whether it is acting as a broker, agent
or in its own name, unless such member has been given an approval from the
Securities Exchange.
SECTION 186. In order to safeguard against the damage which may be caused to the
public or the economy of the country, the SEC shall have the power to:
(1) temporarily suspend the trading of all listed securities in the Securities Exchange for a
specified period deemed as reasonable;
(2) instruct the board of directors or the manager of the Securities Exchange to do any act
or omit to do any act as the SEC deems appropriate.
In exercising the power under (1), the SEC shall give a written order which shall be posted in
a prominent place at the office of the Securities Exchange as well as report the matter to the
Minister immediately. In this regard, the Minister shall have the power to order any change
or modification in such order.
SECTION 187. In cases where there has been a breakdown in the equipment used in the
trading system of listed securities in the Securities Exchange which prevents the normal
trading of listed securities in the Securities Exchange, the manager of the Securities
Exchange shall have the power to order a temporary suspension of trading of all listed
securities in the Securities Exchange, and shall submit a detailed report to the SEC
immediately.
SECTION 188. Upon termination of membership of any member, the Securities
Exchange shall permit such member to complete transactions in progress
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4. indicated amendment by the Securities and Exchange Act (No. 4) B.E. 2551 |
