Company: TOP
Filing Date: 2025-04-30
Form Type: POS AM
Source: 0001213900-25-037641
Chunk: 69

Company: TOP Financial Group Ltd
Filing Date: 2025-04-30
Form: POS AM
Chunk 69
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 to the debt securities. |

If debt securities are issued in certificated
form, they will only be issued in the minimum denomination specified in the accompanying prospectus supplement and integral multiples
of such denomination. Transfers and exchanges of such debt securities will only be permitted in such minimum denomination. Transfers
of debt securities in certificated form may be registered at the trustee’s corporate office or at the offices of any paying agent
or trustee appointed by us under the indentures. Exchanges of debt securities for an equal aggregate principal amount of debt securities
in different denominations may also be made at such locations.

<div align='center'>29</div>

Governing Law

The indentures and debt securities will be governed
by, and construed in accordance with, the laws of the State of New York, without regard to its principles of conflicts of laws, except
to the extent the Trust Indenture Act is applicable or as otherwise agreed to by the parties thereto.

Trustee

The trustee or trustees under the indentures
will be named in any applicable prospectus supplement.

Conversion or Exchange Rights

The prospectus supplement will describe the terms,
if any, on which a series of debt securities may be convertible into or exchangeable for our Class A ordinary shares or other debt securities.
These terms will include provisions as to whether conversion or exchange is mandatory, at the option of the holder or at our option.
These provisions may allow or require the number of shares of our Class A ordinary shares or other securities to be received by the holders
of such series of debt securities to be adjusted. Any such conversion or exchange will comply with applicable Cayman Islands law and
our amended and restated memorandum and articles of association.

<div align='center'>DESCRIPTION OF UNITS</div>

We may issue units comprising one or more of
the other securities described in this prospectus in any combination. Each unit will be issued so that the holder of the unit is also
the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each
included security. The unit agreement under which a unit is issued may provide that the securities included in the unit may not be held
or transferred separately, at any time or at any time before a specified date or occurrence.

The applicable prospectus supplement may describe:

| ● | the designation and terms of the units and of the                                                                                       
 securities comprising the units, including whether and under what circumstances those securities may be held