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More Changes to the Public Limited Company Act

The Department of Business Development (“DBD”) proposed further amendment consisting of 6 additional issues to the Public Limited Company Act B.E. 2535 (“Bill”) for public hearings from 8th to 24th August 2018.

The 6 additional issues are:-

1.   Publishing the company’s information to the public by an electronic means in addition to publication in a newspaper.

2.   Sending of orders, notices, letters or other documents to a recipient by an electronic transmission upon request.

3.   Giving additional powers to the Minister of Commerce as the minister in charge of the enforcement of this law.

4.   Allowing a Board of Directors (“BoD”) meeting be convened via an electronic means.

5.   Allowing a BoD meeting be called by the Chairman of the Board or any 2 of the directors.

6.   Appointment of a proxy to attend a shareholders’ meeting by a safe and reliable electronic means (e-proxy).

These additional issues are in addition to the amendment points previously reviewed by the Council of State.  The DBD and the Ministry of Commerce will revise the Bill taking into account the inputs received from the public hearings and submit it to the Cabinet and the Council of State respectively.


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