3.2.1 The Financial Institutions Business Act
The Financial Institutions Business Act, B.E. 2551 (2008) (the “FIBA”) was recently enacted to repeal and replace the Commercial Banking Act, B.E. 2505 (1962) and the Act on the Undertaking of Finance, Securities, and Credit Foncier Businesses, B.E. 2522 (1979). According to the FIBA, a “financial institution business” includes commercial banking, and the undertaking of finance, securities, and credit foncier businesses. The FIBA requires that Thai nationals hold not less than three-fourths (3/4) of the total issued shares in a commercial bank and that at least three-fourths (3/4) of the total number of directors be Thai nationals. The FIBA does, however, empower the Office of the Bank of Thailand (BOT), 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, the Ministry of Finance can extend the foreign directorship limit to 100%, in order to rectify the status and performance of a distressed financial institution or to stabilize a financial institution.
3.2.1 The Financial Institutions Business Act
The Financial Institutions Business Act, B.E. 2551 (2008) (the “FIBA”) was recently enacted to repeal and replace the Commercial Banking Act, B.E. 2505 (1962) and the Act on the Undertaking of Finance, Securities, and Credit Foncier Businesses, B.E. 2522 (1979). According to the FIBA, a “financial institution business” includes commercial banking, and the undertaking of finance, securities, and credit foncier businesses. The FIBA requires that Thai nationals hold not less than three-fourths (3/4) of the total issued shares in a commercial bank and that at least three-fourths (3/4) of the total number of directors be Thai nationals. The FIBA does, however, empower the Office of the Bank of Thailand (BOT), 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, the Ministry of Finance can extend the foreign directorship limit to 100%, in order to rectify the status and performance of a distressed financial institution or to stabilize a financial institution.
การแปล กรุณารอสักครู่..