Thai Cabinet gives green light to revised Civil and Commercial Code

[webfact]

Cabinet gives green light to revised Civil and Commercial Code

BANGKOK, 25 May 2016 (NNT) - The Cabinet has approved adjustments to the company establishment process to make it faster and more convenient for SMEs and startups.

Government Spokesman Maj.Gen.Sansern Kaeokamnerd said the Cabinet on Tuesday agreed to revise the Civil and Commercial Code. The use of company seals will be cancelled in a bid to help shorten the permission process, said the spokesman.

The revised Civil and Commercial Code allows that an assignment of contractual rights can be made in electronic form.

The registration of a business entity will require only two persons from three people to facilitate SMEs and startups. The amendment of the Civil and Commercial Code are part of the government's policy to support SMEs and startups and help them access sources of capital.

-- NNT 2016-05-25

[Jimbo2014]

My wife has been waiting over a year for approval of her business name - does this mean she might only have to wait 350 days?

[thaiturkey]

HOW ABOUT MAKING PERJURY A CRIMINAL OFFENCE ????

At present, there is no penalty for giving false evidence in the Civil Courts. There is widespread abuse, resulting in many people being cheated. I almost lost my home as a result of this.

URGENT ACTION REQUIRED