KASIKORNBANK Public Company Limited
- To obtain remuneration from acting as the Fund Supervisor at the rate stipulated in the Fund Supervisor appointment agreement;
- To execute the Commitment between the Unitholders and the Management Company on behalf of the Unitholders;
- To certify the receipt of funds from subscription and support the establishment or registration of the Fund to be made with the Office of the SEC;
- To supervise the Management Company to strictly comply with the Securities Law and the Fund Scheme as well as the Commitments between the Unitholders and the Management Company, and to notify the Office of the SEC within 5 Business Days from the date of the Fund Supervisor's knowledge if the Management Company fails to comply with the above;
- To prepare a detailed report and submit it to the Office of the SEC in case that the Management Company does any act or omits from taking any action that causes damage to the Fund or fails to perform its duties under the Securities Law within 5 days from the date on which the Fund Supervisor is aware of such circumstance;
- To take into custody the Fund Assets and keep them segregated from assets of the Fund Supervisor or of other persons which are under the custody of the Fund Supervisor;
- To inspect the Fund's assets and correctly and completely record assets' actual conditions inspected by the Fund Supervisor
- To monitor and ensure that the disbursement, payment and delivery of either monies, documents or other assets made by the Fund complies with the Fund Scheme, as well as with the transaction documents;
- To prepare details of items or assets deposited into and withdrawn out of accounts of the Fund;
- To file a lawsuit against the Management Company to force the Management Company to perform its duties or to claim compensation for damages caused by the Management Company for the benefit of all Unitholders or upon the receipt of order from the Office of the SEC, the cost of which can be claimed by the Fund Supervisor from the assets of the Fund;
- To perform checks and balances over the Fund administration and management by the Management Company in a strict manner;
- To perform its duties with loyalty by knowledge and competence as professional behaviour for the interest of the Fund and the Unitholders;
- To consider and approve or not approve the acquisition or disposal of Infrastructure Assets with a value of more than 100 Million Baht but less than 30% of the value of the total assets of the Fund at the time of such acquisition or disposition of assets in accordance with the Fund Scheme and the Securities Law, taken into consideration the opinion of independent expert appointed at cost of the Fund (if any); unless the property is damaged, the Management Company (for and on behalf of the Fund) has its sole discretion by taking into account of Unitholders' benefits at most in deciding to
- (a) allow BEC and/or BPC to repair or construct new power plant; or
- (b) to exercise the right to terminate the Net Revenue Transfer Agreement; or
- (c) to convoke the meeting of the Fund's unitholders.
- To consider and approve or not approve the entry into an agreement or amendment or termination of the agreement relating to the benefit management or seeking from the assets with a contract value of more than Baht 100 Million Baht but less than 30% of the value of the total assets of the Fund at the time of such entry into an agreement or amendment or termination of such agreement in accordance with the Fund Scheme and the Securities Law, taken into consideration the opinion of independent expert appointed at cost of the Fund (if any);
- To notify the Management Company to conduct a new appraisal immediately after the Fund Supervisor is of the opinion that any circumstance or change has occurred in a way that will have a material effect on the value of the assets of the Fund, or when it thinks necessary for the Fund;
- To give an opinion on the matters requiring the Fund Supervisor's opinion, including matters that require resolution from unitholders and the effects that unitholders may obtain from the said votes. And give opinions in the notice calling for the meeting of the unitholders regarding the matters that the Management Company proposed to the unitholders' meeting for acknowledgment, approval, or consideration, as the case may be;.
- To participate in Unitholders' meetings which are prescribed by the Securities Law;
- To arrange for the receipt of, or payment of money from accounts of the Fund within the prescribed time as reasonably requested by the Management Company, subject to compliance with the Fund Scheme and/or the terms of the relevant Transaction Documents (as applicable);
- Not to take any action which will conflict with the interest of the Fund or the Unitholders, regardless of whether such action is or will be taken for the benefit of the Fund Supervisor itself or others, except for claims of remuneration for acting as the Fund Supervisor or actions which are fair treatment and have been sufficiently disclosed to the Unitholders in advance provided that the Unitholders who are notified thereof do not make any objection;
- In case that the Management Company does not seek approval for the matters which require Unitholders' resolution, the Fund Supervisor has to take any necessary actions to seek such approval from the Unitholders;
- To have rights, duties and responsibilities as prescribed in the Fund Scheme and Fund Supervisor Appointment Agreement; and
- To perform any other acts as prescribed under the Securities Law and the Fund Supervisor appointment agreement.
