Document ID: chunk:federal_register_of_legislation:F2022C00868:reg:6:p1
Version: federal_register_of_legislation:F2022C00868
Segment Type: reg
Provision Reference: reg 6 (pt 1/2)
Character Range: 7248–9744

6     Thailand                            In the case of a scheme established as a mutual fund, the commitment between the unit holders and the securities company required under the Securities and Exchange Act B.E. 2535 (1992). In the case of a scheme established as a trust, the trust deed as required by the Trust for Transactions in Capital Market Act B.E. 2550 (2007).

 (3) For this section, the constituent document is compliant if the constituent document includes provisions that:
 (a) have the effect that:
 (i) each member of the passport fund is entitled to seek remedy against the fund, if it is a legal entity, and its operator, in the member's choice of the home economy or a host economy for the fund, including through compensation, in relation to loss suffered by the member due to a breach by the fund or its operator of the laws of the home economy for the fund or of the Passport Rules for the home economy or any host economy for the fund, unless:
 (A) the member and the fund or operator have agreed in writing that the member is not entitled to seek remedy in that place in relation to the particular proceedings; and
 (B) the agreement is effected after the conduct that is or is to be subject to the proceedings has first occurred; or
 (ii) a specified person, on behalf of any member of a passport fund when it is in the best interests of members, is entitled to seek remedy against the fund, if it is a legal entity, or its operator in the specified person's choice of the home economy or a host economy for the fund, including through compensation, in relation to loss suffered by the member due to a breach by the fund or its operator of the laws of the home economy for the fund or of the Passport Rules for the home economy or any host economy for the fund, unless:
 (A) the specified person and the fund or operator have agreed in writing that the member is not entitled to seek remedy in that place in relation to the particular proceedings; and
 (B) the agreement is effected after the conduct that is or is to be subject to the proceedings has first occurred; and
 (b) have the effect that the passport fund, if it is a legal entity, and its operator agree that where a member of the fund has commenced proceedings against the fund or its operator in a court in the member's economy, that court will be a convenient forum to hear the proceedings, unless:
 (i)  a similar action has been commenced against the fund or its operator in another economy and it would