Thai Cabi­net Ap­proves Draft Trade Com­pe­ti­tion Bill

Thai-American Business (T-AB) Magazine - - Legal Updates -

The draft Trade Com­pe­ti­tion Bill was ap­proved in the cabi­net meeting held Oc­to­ber 11, 2016. This draft serves as a sup­ple­men­tary ver­sion of the ex­ist­ing Trade Com­pe­ti­tion Act of 1999. The ma­jor changes that have been made in­clude the spin- off of the Of­fice of the Trade Com­pe­ti­tion Com­mis­sion ( OTCC) from a divi­sion un­der the Depart­ment of In­ter­nal Trade, the Min­istry of Com­merce, into an in­de­pen­dent state or­ga­ni­za­tion, and the in­clu­sion of a fine of 10 per­cent of the to­tal in­come of the fis­cal year be­fore the year an of­fense is com­mit­ted for car­tel cases, in ad­di­tion to the ex­ist­ing crim­i­nal penalty of im­pris­on­ment for up to three years.

The spin- off is said to elim­i­nate past en­force­ment is­sues at­trib­uted to po­lit­i­cal in­flu­ence, and to pro­vide more flex­i­bil­ity in man­ag­ing the or­ga­ni­za­tion. In ad­di­tion to the above, merg­ers and ac­qui­si­tions that fall within the cri­te­ria set out by the Trade Com­pe­ti­tion Com­mis­sion must be re­ported to the OTCC within seven days post- com­ple­tion of the trans­ac­tion, in­stead of ob­tain­ing a pre- merger clear­ance.

For more information con­tact Baker and Mcken­zie In­ter­na­tional at suriy­ong. tung­suwan@bak­erm­cken­zie.com

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