Amendment to Public Limited Companies Act (“PLC”)
The government has proposed electronic methods for facilitating operation of public limited companies.
Public Limited Companies Act B.E. 2535 of Thailand (“PLC”) applied for a longtime but it is seemed not to be appropriate at present. As a result, the amendment to PLC is proposed in order to facilitate the operation of public limited companies regarding the electronic method which is covered in the following:
- Allowing advertisement or publication of any statement related to any company through any electronic means instead of publication of any statement through newspaper by adding Section 6, paragraph 30.
- Allowing the company or the board of directors to send a letter or any documents to directors, shareholders, or creditors of the company through electronic means if such persons has informed or agreed with by adding Section 7/1.
- Allowing a meeting of the board of directors through electronic means in accordance with the E-meeting law and it is deemed that the company’s head office is the meeting place by amending Section 79.
- In relation to the board of directors’ meeting by amending Section 81 and 82 and adding Section 81/1.
- Allowing the shareholders, who make a written requisition to the board of directors for summoning an extraordinary meeting under Section 100, paragraph 2, send the notice of meeting via electronic means by adding Section 101/1.
- Allowing a shareholder to appoint another person as proxy for attending and voting at the meeting via electronic means by inserting section 102, paragraph 3.
Legal Insight Vol. April 2021 of Bangkok Global Law
The PDF file can be downloaded via the link as set below.