To keep up with the digital era, the Thai Cabinet recently approved a draft proposed amendment (the “draft amendment”) to the Public Limited Company Act B.E. 2532 (1992) on 11 May 2021 (the “Act”). The draft amendment mainly aims to revamp the corporate processes, which are inconsistent with the current situation brought about by the COVID-19 pandemic. The changes will help facilitate business continuity by removing outdated and complicated requirements and adopting the use of electronic methods into the corporate process.
The draft amendment will be introduced to the National Legislative Assembly for their approval. Once approved, the draft amendment shall come into force upon the expiration of 30 days from the date of its publication in the Royal Thai Government Gazette.
Source: ZICO Law