On 7 July 2017, the National Legislative Assembly published the Trade Competition Act, 2560 B.E. (2017) (“the TCA”) in the Royal Gazette, for the purpose of efficient enforcement of the law. The TCA will become effective in October 2017.
On 9 June 2017, the Ministry of Commerce published Ministerial Regulation Prescribing Service Businesses Not Subject to Application for a Foreign Business Licence (No. 3), 2560 B.E., in the Royal Gazette.
The National Council for Peace and Order issued Order No. 21/2560 amending provisions of the Civil and Commercial Code, the Labour Protection Act, the Public Limited Company Act, and the Social Security Act. The Order was published in the Government Gazette and became effective on 4 April 2017.
A limited company must hold an Annual General Meeting (“AGM”) within four months of the fiscal year-end in order to consider and approve the audited financial statements and other matters, as required by law (such as the rotation of directors), and as stipulated in the Articles of Association (“AoA”) of the company.
The Ministry of Industry has raised the fees for registering machinery by an estimated 20 per cent to reflect the present economy and production costs, including the machinery inspector’s licence fee.