Amendments to the Civil and Commercial Code

Notable changes are as follows: 

• A Private Company Limited can be established with two promoters, and only requires two shareholders. Previously, three promoters and shareholders were required. 
• The Thai CCC now contains a provision officially permitting to hold a board of directors meeting by electronic means. Thus, as long as the articles of a company require meetings in person, the board can meet electronically.
  
• In calling an Annual General Meeting of the shareholders, the invitation no longer has to be published in a newspaper, facilitating the process of shareholder meetings in Thailand. 
• The Thai CCC now includes a provision to facilitate mergers of companies. Previously, the law only regulated the amalgamation of companies.