Democrats confident in shareholding case

"Article 265 of the Constitution is designed to prevent politicians from having conflicts of interest by holding shares linked to state concessions," Sathit said.

The litigation is about shares traded in the stock market, and such shares are meant for capital mobilisation, he said.

MPs owning these shares do not serve in the company's management, have access to insider information or wield control over state concessions, he said.

Transactions through the stock market should not be characterised as a conflict of interest, he said.

Even if the Election Commission rules to disqualify the Democrats for violating Article 265, the main coalition party expects to convince the Constitution Court to overturn the decision, he said.

House Speaker Chai Chidchob said he was informed that about 62 MPs were facing the probe on equity rules.

About 20 of them might be disqualified by the EC and subjected to prosecution, he said.

However, the House would not be dissolved even in the worst case, as the number of lawmakers involved was not so large that by-elections could not be held to fill their vacant seats, he said.

Former charter writer Seri Suwanpanont said he anticipates no problem with quorums pending the completion of by-elections.

Even if all the MP suspects were red-carded, the remaining lawmakers would still exceed the minimum of 240 needed to make a quorum, he said.

The 16 senators earlier disqualified by the EC for outlawed shareholdings have yet to be reviewed by the charter court, but should they lose, their seats would be filled by by-elections and the Senate can remain functioning, he said.

There is no cause for concern that the Upper Chamber would grind to a halt, he said.

Existing mechanisms will allow the House and Senate both to continue running and no one should jump to conclusions before the judicial process runs its course, he said.