The order requires the banks to freeze all the 21 bank accounts of Thaksin and Pojaman in which the Bt52.8 billion was deposited.

The second order will freeze remaining bank accounts of the Shinawatra couple.

AEC members Nam Yimyaem, Sak Korsaengruang and Kaewsan Atipho held the news conference to announce the asset freeze, coming a day after Prime Minister Surayud Chulnanont called for the Thai people to accept the Constitution Tribunal's verdict to dissolve the Thai Rak Thai Party.

7 pm: The second order of the Asset Examination Committee also offers for anybody who really owns any of the bank accounts believed to belong to Thaksin and Pojaman to come forward within 60 days and prove ownership.

If he or she can prove real ownership, then the Asset Examination Committee will order the banks to release the freezing of the bank accounts.

The freeze of Thaksin and Pojaman's money marks the first step of the justice process as the Asset Examination Committee will lodge the cases of corruption against them in the court of justice. If Thaksin and Pojaman are not found guilty, they will be entitled to get their money back. If proved guilty, their money will be seized by the state.

7.15 pm: This carries profound political significance. Thai Rak Thai key members, in disarray after the party dissolution order, will all but have their hope of regrouping dashed. Without funding from Thaksin, it will be very difficult to keep the restless former MPs together.

The assets freezing order also has come at a time when protests against the coupmakers and the Surayud government are gaining momentum. The protests are believed to have been jointly organised by those genuinely opposed to the coup and Thaksin's supporters.

While the assets freeze order will not affect the anti-coup activists, it will rock pro-TRT protesters hard.

And the potential takeover of Manchester City Football Club may have just been doomed.

7.30 pm: The Thaksin camp has decried the "illegal orders" and vowed to challenge them in courts. But here we are talking about the same top judges who have nullified his election victory, put Election Commission members allegedly linked with him in jail, and dissolved his political party.

The AEC's orders stated that the freezing of the assets was warranted by "credible evidence" that Thaksin was guilty of corruption, malfeasance leading to usual wealth during his time in political office.

7.45 pm: And the great divide continues...:-) judging from your comments below. With Thaksin, it's never legally easy, is it? Acquit him and the judges were bombarded for not abiding by constitutional and legal principles. Finding him guilty and again there are all sorts of legal and legitimacy questions.

8 pm: The orders didn't say anything about bank interests. What would happen during the frozen period? And in the event of Thaksin and his wife being found not guilty, would there be "retroactive" interests? Surely there wouldn't be so much fuss if it was, say, Bt500 million. But Bt53 billion???

8.15 pm: The following is an analysis from our political desk: "Thaksin and Pojaman should not have good sleep from now on. There are 13 cases, such as the Rachadaphisek land purchase, the CTX scandal, related directly or indirectly to him that are awaiting to proceed in the justice process, post-coup justice process if you will.

The Shin Corp deal is a case to watch because Thaksin allegedly moved 10 per cent of his holdings in this company into Ample Rich Investments incorporated in the British Virgins Island. Before the sale of Shin Corp to

Temasek, this 10 per cent stake went through a series of taxfree transactions involving his son Panthontae and his daughter Pinthongta before it was sold in the stock exchange to Temasek."

In addition, he also faces investigation for issuing the excise tax decree that allegedly allowed his telecom empire to save a huge fortune when his government needed to adjust telecom concessions to facilitate liberalisation of the industry. The telecom excise tax was once described as the biggest example of "policy corruption" because it benefited his business at the expense of state revenues and it allegedly put Shin Corp's major business rivals at a disadvantage.

8.30 pm: Our reporters covering pro-Thaksin and anti-coup protests _ which somehow have converged and started to look formidable _ said the assets freeze was a big blow to the campaign. Anti-coup protesters, while not in need of much funding, were hoping to rely on the fierce and well-organised nature of the pro-Thaksin protesters. When the financial supply to the pro-Thaksin demonstrators is cut, it's highly doubtful that the campaign can be sustained.

8.40 pm: "Does this assets freeze have something to do with the protests?" one reader asked. In my opinion, it has all to do with the protests. The action as well as wordings in the AEC orders were supposed to come from the "What to do immediately after a coup" textbook. In other words, it's long-overdue as long as power play is concerned.

The coupmakers tried to be nice guys, but apparently have come to realise that the textbook is there for a reason.

9.10 pm: The comment section continues to heat up. And it sounds like our newsroom, really. People are polarised and compromise simply impossible. Well, everyone is entitled to his opinion.

Someone asked about the legal basis of the freeze order. The AEC was set up by the coupmakers and is exercising its summary power. The process, I think, will be like the party dissolution in that they will try to involve the normal justice as much as they can when it comes to finding out whether the Shinawatras are guilty or not guilty. In other words, they will try to apply pre-coup laws and determine if the Shinawatras broke them.

10.30 pm: By the way, this is exactly what Thaksin's lawyer Noppadon Pattama said: "I have called him and he felt that he's being persecuted. He thinks this is unfair and an attempt to pick on him and his wife endlessly. This is an attempt to simply prevent him from spending his money.

"The [corruption] accusations carry not enough weight [to warrant assets freeze] and Thaksin and his wife have never attempted to hide or transfer their assets elsewhere.

"The money was earned through legal and honest means. We will set up legal teams to initiate criminal and civil cases against the AEC and will fight the cases till the end. We will also seek justice for lost business opportunities as a result of the freeze."

Tuesday 0.15 am: Before I sign off for the night, let's touch upon the most asked question of the hours once again: Will there be violence? Surely, the assets freeze order will have a big impact on the on-going protests. As I said earlier, our reporters covering the protests believe the sudden shortage of funds might discourage rural organisers who have to deal with poor demonstrators who can't be absent from their jobs too long without guarantees of substantial returns.

Is Thaksin so loved by the poor that they want to sacrifice their wellbeings in order to fight for his political resurrection? This is a big ask.

However, I have read a Thai language media article and agree with the writer that there remains the wounded tiger theory. Thaksin is a man who has nothing to lose now, and the only way he can salvage anything at all is for Thailand to experience a civil conflict of the grandest scale. (normal violence or bloody clashes would likely lead to another coup that could even prolong Thaksin's political plight, so what's the point of that?) For his total revival, we are talking about an upheaval big enough to sweep away rulings, or orders that affect him, his empire, his family and his political party. Can he instigate that? Will he? Can it really happen?

In my humble opinion, the answers are Yes, Not sure, and No.

Yes, judging from the present social divide, correct stimulants couple with continued funding can trigger a major political turmoil. But I'm not sure if Thaksin's ready to risk whatever he has left and go into another political war yet that he's unlikely to win. And even if he's willing to make the last, biggest gamble, there's no chance the result will be a totally pro-Thaksin and anti-CNS scenario in which corruption charges will be nullified and TRT restored. I really can't see that happening. He's a far cry from Aung Saan Suu Kyi, to begin with.

That's it for now. Wish all of you a good sleep or a fine day. Thanks for visiting my blog and for all your comments. See you again soon.

Tuesday 11.50 am: Hello again. There have been some minor developments when I was away. Manchester City Football Club has expressed guarded concern and demanded clarification from Thaksin regarding his financial status. Banking authorities are being approached by reporters who want to shed light on the life and death matter of deposit interests.

I like what clomnist Pliew Si-ngern wrote in Thai Post. He said the assets freeze has given Thaksin a pretext to walk away from what he described as the Manchester City PR stunt.

"He was on the verge of being embarrassed by the farangs who have started to know what he's like," Pliew said. "He's been claiming he would buy but the farangs have been saying 'Show me the money...Show me the money.'."

12.10 pm: Steven, to answer your question, the post-coup order that set up the AEC empowers it to freeze assets "when there is reliable evidence" of corruption. This is practically a license to kill.

Techinically, the AEC is exercising its power. Fair? It's up to you and me. If you ask me, there were times in Thailand when drug suspects were shot without even being charged. And yes, no evidence, only police "conclusions".

12.45 pm: A small bit of good news for Thaksin. Banks will continue calculating interests for the Bt52.8 billion deposits. I'm no good at math but assume we are talking of amounts that can feed seizable armies here.

Banking sources also revealed that there has been an "informal" request from the powers-that-be for cooperation in tracing the missing Bt20 billion part of Thaksin's Temasek sale income.

The AEC suggested that the missing money disappeared only recently, and that was one reason why it had to order the assets freeze.

3.20 pm: Sorry guys for the slow update. Our net server has been unstable today.

AP, the freeze will be in effect until Thaksin is proven innocent or guilty, at which point the assets, or parts of them, will be either seized permanently or released.

Spiceman, where do I start? Ok, let me try. I think his biggest mistake is his failure to grab the chance that "democracy" presented him. The shares in servants' accounts and Ample Rich almost brought about his downfall in 2001, but his landslide election victory saved him. Instead of being thankful and repentant, the shares were used as part of a tax evasion scheme that allowed him to escape paying up to Bt20 billion to the Revenues Department. There had been simmering of discontent before the Temasek scandal, but the tax evasion just tipped the scale, I guess.

3.30 pm: Khurtaikornkhaw, I agree with many who predict things may get worse before they get better. As for whether Thaksin can come back, I think the country has had enough of him. There will never be peace if he returns politically. Too many old wounds. Too much divide. Everything can come back to haunt us. Shares in servants' accounts can come back to haunt us. The circle (or circus??) of rule of law versus democracy will come back to haunt us.

If somehow Thailand scrapes through this period without violence, I believe things will get better. A lot of people have learned lessons _ politicians, military, media, the middle class, the rural people, those trusted with ensuring checks and balances. Surely it won't be a perfect democracy or government overnight, but a new election can usher in real hope. Of course, if violence erupts, it will be another story.

5 pm: Bad breaking news, folks. Our blog section has been attacked by viagra advertising spams which invaded the comment sections of many blogs. Our technicians may soon have to close down all comment sections to restore order. We have had trouble with our server all day.

I'm not sure how long the comment sections will have to remain close. Will keep you informed of the situation. Sorry for this, guys.

5.30 pm: Too bad. Didn't know all existing comments would be gone, too.

By the way, some more thoughts on Manchester City: Our finance reporters said that if somehow Thaksin still manages to buy the football club, it will mean he had smuggled huge cash out of Thailand, exposing himself to more legal attacks over here.

If I were in the Man City board, I would propose looking for new bidders already.

5.45 pm: Speculation has intensified over Thaksin's "imminent" return to Thailand. First, his lawyer Noppadon Pattama said an angry and bitter Thaksin would decide within three days whether to return to challenge the assets freeze order. That would mean little but for interim Prime Minister Surayud Chulanont's statement that Thaksin could come back to defend his assets if he liked.

8.40 pm: We can look at it both ways. Thaksin could be bluffing, lamely, following the assets freeze order, or he is now in the wounded tiger mode and has entered the nothing to lose stage.

The next few days will be crucial. The protest organisers' decision to move up the "D-day" is a desperate yet dangerous sign. If things are kept under control and there's no violence, then the protest could become long-drawn and lose its bite. But now's the time to up the stake as emotions are still running high following the party dissolution and the assets freeze order.

Wednesday 12.40 pm: Hello again. Hope you guys have got over the disappearance of the comment section. I was very frustrated as well, but have to move on. We are overhauling our blog department so at least we can look forward to big changes for the better very soon.

Every newspaper in town screams Thaksin to return soon on its front page. He must have been very upset by the assets order, and the interim prime minister might have just called his bluff.

One of our political reporters has talked to a senior TRT politician and it seemed that Thaksin's vow is being taken quite seriously by his top followers.  This person said Thaksin just wanted to "come back and give moral support" to the former TRT so its unbanned politicians can go ahead and try to win the election.

"Thaksin knows an uprising or violence sparked by his return will do TRT future no good," the source said. "But he just wants to come back and help them win elections."

1 pm: I don't believe that. I think his vow to return is just part of a war coming to its climax. The assets freeze is changing everything. It means TRT will all but disintegrate, that the anti-coup protests will be very hard to sustain, that his family could be several billion baht poorer, and that he will lose face big time in England.

Reading the Guardian website and one will see Thaksin's alleged crimes have caught the attention of the whole of England now. Formerly it was like here's a leader overthrown in a power play in his country and living in virtual exile. Now the reasons "why" he was overthrown are coming into sharper focus for England, as his bid to buy the Manchester City Football Club has been disrupted by the assets freeze.

1.10 pm: The Guardian reported that the Premier League would implement fit-and-proper-persons regulations if he were convicted of fraud in his homeland.

Every board member or controlling shareholder of a Premier League club must sign a "director's declaration" stating whether he or she has convictions for fraud, theft, corruption or associated offences. Clubs with a director carrying such convictions are debarred from competing in the league until the association with the individual is terminated.

If Thaksin can't prove that his wealth - principally generated from the Bt72 billion tax-free sale of Shin Corp  - has been earned legally and charges and a conviction were to follow, the Premier League would be forced to exercise its fit-and-proper-persons regulations for the first time.

Now, Ample Rich, shares in servants' accounts and all the murky transfers, and whether or not he should pay taxes may become something Premier League officials and Manchester City fans have to debate about.

Welcome to the Great Divide!!!

2.00: Our managing editor Thanong Khanthong and political team have run into some major developments in the on-going anti-corruption probe against Thaksin. Stay tune with our website. All I can say now is the game is rapidly turning in the interim leadership's favours. The evidence will shut the door on Thaksin regarding the legal wars, and the only way he can return politically is, now it seems, through an uprising.

2.15 pm: By the way, we managed to get your comments back, but you can't post new ones yet. Please look at the explanation on the home page. Again, I'd like to apologise to all our bloggers and posters for the inconvenience over the past two days.