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manage the operation, except where the terms in such positions have
expired for more than 2 years on the date of appointment.

Business relation mentioned in paragraph 1 include regular commercial
transactions, immovable property leasing, assets and service transaction or
the provider or receiver of financial assistance through loans, guarantee,

using properties as collaterals and the likes that lead to a situation where
the company or contractual party is obligated to repay the other party an
amount of 3% of the net tangible assets of the company or an amount of
20 million Baht or over, depending which is lower.

(5) Must not be or has never been an auditor of a company, parent company,

subsidiary, associate company, major shareholder or a person who has
the authority to manage the operation or has never been implied
shareholder or a person with an authority to manage an auditing firm in
which the auditor of the company, parent company, associate company,

affiliated company, major shareholder or a person who has the authority to
manage the operation is working with, except where the terms of such
positions have expired for more than 2 years on the date of appointment.

(6) Must not be or has never been a person who provide professional service
including legal or financial service with a compensation of more than

2 million Baht per year for a company, parent company, subsidiary, associate
company, major shareholder or a person who has the authority to manage
the operation or has never been a significant shareholder or a person with
an authority to manage or a shareholder of such auditing firm, except where

the terms of such positions have expired for more than 2 years on the date
of appointment.

(7) Must not be a member who is appointed as a proxy of other board member
of the company, major shareholder or shareholder related to the major
shareholder.

(8) Must not engage in a business with the same type of operation that

competes with a company or associate company or has never been implied
shareholder or an executive director, an employee, staff, a regularly paid
advisor or a person holding more than 1% of voting shares of other company
whose nature of operation is the same and competes with the operation of

the company and its subsidiary company.

สายงานส านักเลขาธิการองค์กร บริษัท เมืองไทยประกันชีวิต จ ากัด (มหาชน) 51
Corporate Secretariat Office Division, Muang Thai Life Assurance PCL.