Members of the new Cabinet are required to declare their assets and liabilities by October 3 - 30 days after having been sworn in on September 4, Worawit Sukboon, deputy secretary-general of the National Anti-Corruption Commission (NACC), said yesterday.
He added that details of the premier’s and ministers’ declared assets will be disclosed to the public by November 2. Spouses and underage children of the ministers are also required to declare their assets.
Worawit spoke to reporters after informing the Cabinet of the regulations and procedures involved in the declaration of wealth.
He said ministers were not allowed to hold more than 5 per cent of shares in a private firm, and if anybody wished to hold a larger stake, they must inform the NACC chairman within 30 days. Also, their shareholding will need to be transferred to legal bodies that manage personal funds within 90 days.
The ministers are also required to inform the NACC chairman within 10 days after the shares have been transferred, and this information will be publicly disclosed.
This provision is applicable to ministers, not members of the National Legislative Assembly, who are only allowed to hold a 5 per cent stake in a company.
He said the NACC had adopted the same standard of practice on asset declarations with General Prayuth Chan-ocha’s government as the one imposed on elected governments.
Worawit added that Prayuth was not required to declare his assets in his position as chief of the National Council for Peace and Order, but had to after he retires as Army chief this month.