Tax & Legal News Flash Issue 29 | KPMG | TH
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Proposed Amendments to Company Law - Shares in Limited Companies

Proposed Amendments to Company Law

On 17 October 2017, the Thai Cabinet endorsed the draft Act for Amendment to the Civil and Commercial Code proposed by the Ministry of Commerce to amend the provisions related to shares in limited companies registered in Thailand and also apply necessary provisions under Securities and Exchange law for implementation.

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Proposed Amendments to Company Law - Shares in Limited Companies

Such amendments mainly aim at facilitating ease of doing business in Thailand and boosting up the competitiveness of the nation, especially for Startup Businesses.   

After the Cabinet’s approval, the proposed draft Act will proceed with further
necessary steps before becoming an enforceable law.  

Key proposed amendments for a limited company incorporated in Thailand

Title Current law Proposed amendment
Public offering  X /
Debt to equity
conversion
X /
Preferential right
amendment
X /
Preference share to
ordinary share conversion
X /
Holding its own shares X /
New share issuance to
executives, employees or creditors without first offering to existing
shareholders
X /
Debenture offered to
public
X /

 

We would welcome any opportunity to discuss the relevance of this matter upon request. 

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