On 23 September 2016, the Department of Business Development (DBD) of the Ministry of Commerce issued an announcement regarding National Council for Peace and Order Notification No. 74/2557 (2014) on meetings held through electronic media.
Keywords: Mazars, Thailand, Legal, Meeting, Electronic Media, DBD, Ministry of Commerce, National Council for Peace and Order, Ministry of Communication
30 January 2017
The announcement states that private companies can now hold any meeting required by law through electronic media. A meeting held in accordance with the announcement will be regarded as valid and legally effective.
This means that the DBD will now allow Articles of Association to contain provisions making such meetings valid, as well as allow resolutions passed at board of directors and shareholders’ meetings held in such a manner to be registered.
The following conditions must be met for a meeting through electronic media to be considered held properly:
- The entity holding the meeting through electronic media must be a registered partnership, limited company, public limited company, trade association, or chamber of commerce.
- At least 1/3 (one-third) of the quorum of the meeting must physically attend the meeting at the same place, and all participants in the meeting held through electronic media must be physically present in Thailand at the time of the meeting.
A meeting held through electronic media can be held using audio or audio-visual media. The meeting must be held using a secure IT system, and audio or audio-visual of all attendants of the meeting must be recorded in accordance with the Notification of the Ministry of Communication and Information Technology re: Security Policy and Standards of Conference Meetings through Electronic Media, 2557 B.E. (2014).