The Insurance Acts empower the Office of the Insurance Commission (OIC), on a case-by-case basis and upon request, to permit non-Thai nationals to hold up to 49% of a company’s voting shares sold and to allow foreigners to comprise more than 25%, but not more than 50%, of the directorship of a company. Moreover, where the financial position or business operations of an insurance company are likely to be detrimental to the insured or the public in general, the Minister of Finance, on the OIC’s advice, may allow the company’s shareholding or directorship structure to differ, e.g. permit foreign shareholding of more than 49%.