policies of the parent company and that the Company is involved in managing the business operations of its subsidiaries. For the associated companies in which it has a low equity stake, the Company may just assign its representatives or executives to sit on their board of directors for the purpose of participating in the establishment of their main policies only. Scope of control and participation in policymaking The scope of control over the subsidiaries and associate companies depends on the shareholding. In case the equity stake is high, the Company will have a larger scope of control and management over them than the ones in which it has a lower equity stake. However, in general the Company involves in policymaking by assigning its representatives or executives to sit on the board of directors of the subsidiaries and associated companies. This will enable the Company to participate in policymaking of these subsidiaries or associated companies. Assigning representatives of the Company to sit on the board of directors of subsidiaries and associated companies The Company may assign its executives, employees, or qualified representatives to serve as directors or independent directors on the board of directors of its subsidiaries and associated companies for the purpose of participating in the management of their business affairs or in the establishment of their main policies. 56-1 One Report / Annual Report 2021 Thanachart Capital Publ ic Company Limited 53
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