SEC public hearing on proposed subordinate regulations under the Emergency Decree on Special Purpose Juridic Persons for Securitization B.E. 2540 (1997)
The SPV Act grants the SEC Board the power to issue subordinate regulations regarding the criteria for defining future receivables as well as regulations regarding the criteria, conditions, and procedures for change of agent to collect and receive payments of debt. Currently, regulations have not been prescribed for the said matters.
To ensure that the private sector will haveclear guidelines for conducting business and properly complying with the law, the SEC is therefore proposing additional regulations the essences of which are as follows:
(1)Definition of future receivables under Section 3 of the SPV Act to provide the private sector clear guidelines for using future receivables for securitization;
(2)Criteria, conditions, and procedures for disclosing information related to transfer of assets which are rights of claim and the change of the agent to collect and receive payments of debt in accordance with Paragraph 2 of Section 15 of the SPV Act. This would allow the private sector clear and common guidelines for notifying facts related to acceptance of assets which are rights of claim and the change of agent to collect and receive payments of debt.
For further details of this public hearing, please visithttps://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=914. Stakeholders and interested parties are welcome to submit comments and suggestions via the website or email: debt@sec.or.th. The public hearing process ends on 10 July 2023.
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Remark*
Securitization means acceptance of transfer of assets for an issuance and offer of securities for sale to investors, providing that proceeds given to the securities holders depend on a flow of receipts generated from the transferred assets.
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