Expected Amendments to Corporate Law

Author: Yothin Intaraprasong, Ponpun Krataykhwan (Co-author)

Download full text (PDF)

Publisher: Nagashima Ohno & Tsunematsu

Journal / Book: NO&T Thailand Legal Update No.2 (June, 2020)

Reference

Practice Areas

*Please note that this newsletter is for informational purposes only and does not constitute legal advice. In addition, it is based on information as of its date of publication and does not reflect information after such date. In particular, please also note that preliminary reports in this newsletter may differ from current interpretations and practice depending on the nature of the report.

Background
As Thailand continues its strategy to attract and retain more investors and increase its current ranking under World Bank’s Ease of doing Business, the government is planning to amend the current provisions of the general corporate laws in the Civil and Commercial Code (the “CCC”) to be more investor-friendly and digitally-equipped. The highlights of the upcoming amendments include regulations allowing board of directors meetings to be held via electronic means (so called “e-meetings”), abolishment of the onerous local newspaper notice procedure regarding shareholder meetings, and simplifying the procedure for corporate registration.

On 9 June 2020, the Cabinet adopted the resolution approving a bill of amendment to the Civil and Commercial Code (the “Bill”) governing partnerships and limited companies.

Based on the resolution summary, the Bill includes the following key amendments:

Download Newsletter PDF