Mazars Thailand Legal Update – September 2011 - Mazars - Thailand
Mazars Thailand Legal Update – September 2011
Quorum Required for a Meeting of Company’s Shareholders.
12/09/2011
Keywords: Thailand, Legal, Shareholders’ Meeting, Quorum
According to the Civil and Commercial Code, a shareholder can appoint any person to be his/her proxy to attend the Shareholders’ Meeting and vote on his/her behalf.
The law does not stipulate that all shareholders cannot appoint only one person to be their proxies. However, The Department of Business Development ruled that the quorum required for a meeting is at least 2 persons present in person.
Therefore at least two persons must be appointed by proxy to hold the meeting.
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