Trustees under new law

Once implemented, it will be Thailand's first law governing trustees, although it covers only a narrow area of trusteeship focusing on transactions in the capital market.

The senior assistant director of the SEC's Law Department, Jantima Phienveja, said the Bill has already passed its first reading by the National Legislative Assembly (NLA) and is under interpretation by an ad hoc committee, which is more than 50 per cent complete.

When the Bill passes its third reading by the NLA, it will be published in the Royal Gazette and will take effect 90 days later.

"In the future, when new financial instruments are introduced, relevant parties will be forced to conduct their transactions according to the new law. However, before we [SEC] introduce new rules [under the new law], we will consider whether the consequent cost is too high," Jantima said.

- The Nation

Jiwamol Kanoksilp