Section 7. The Committee of Capital Appraisal for Registration of Rights and Juristic Acts, and the Provincial Sub-Committee that have been in office on the enforcement date of this Act shall perform their duties until the subsequent appointment of the new Valuation Committee and Provincial Sub-Committee is held under Section 105 and Section 105 sex. of the Land Code amended by this Act.

Section 8. While the appraisal price of capital is not made known publicly in any province or locality as provided in Section 105 quinque., the fee for registration of rights and juristic acts shall be levied based on the amount of capital that has been determined by the relevant Provincial Sub-Committee prior to the enforcement date of this Act whereas the said amount is deemed to be the appraisal price under Section 105 quinque.

Section 9. The application of registration of rights and juristic acts that has been filed prior to the enforcement date of this Act and is in the process of consideration by the competent officials, the Provincial Sub-Committee, or the Committee of Capital Appraisal for Registration of Rights and Juristic Acts, the fee for registration of rights and juristic acts shall be levied based on the appraisal price of capital under Section 105 quinque. of the Land Code or Section 8 of this Act, as the case may be.

Section 10. While the Valuation Committee has not determined the rules and procedures for appraising and valuating the capital, the rules of the Ministry of Interior in relation the valuation of capital in the registration of rights and juristic acts in connection with land, B.E. 2530 (1987) shall apply mutatis mutandis to the extent that it is not contrary to or inconsistent with the provisions of the Land Code that is amended by this Act.

Section 11. The Minister of Interior shall have charge and control of the execution of this Act.

Remarks:- The reasons of the promulgation of this Act are as follows: It is considered expedient to modify and improve the provisions governing the levy of fee for registration of rights and juristic acts under the Land Code for purpose of applicants’ convenience and expedition by changing the fee calculation method which has been formerly based on the amount of capital of the immovable property applied for registration that has been assessed by the competent officials to the appraisal price determined and announced by official authority. In addition, it is advisable to revise the components as well as powers and duties of the Valuation Committee and the Provincial Sub-Committee to be more comprehensible and suitable. It is therefore necessary to enact this Act.

Act Amending the Land Code (No. 6), B.E. 2535 (1992)¹⁰⁷

Remarks:- The reasons of the promulgation of this Act are as follows: Regarding the provisions of the Land Code in relation the juristic person who is entitled to the same land rights as the foreigner, the problem occurs when there is a question whether the capital that the foreigners invest in the limited company or the partnership holding a status of juristic person shall include the capital of foreigners that is invested in other juristic persons who hold shares therein or not. To solve this problem, the provisions in relation to the said juristic person should be amended and clearly defined. In addition, the same conditions shall apply to the public limited companies under the law on public limited companies and Section 98 shall be amended to correspond with the aforesaid amendment thereof. It is therefore necessary to enact this Act.

Act Amending the Land Code (No. 7), B.E. 2541 (1998)¹⁰⁸

Remarks:- The reasons of the promulgation of this Act are as follows: Whereas the schedule of fees and expenses annexed to the Land Code and the schedule of remuneration annexed to the Land Code have been used for such a long time that they become irrelevant to the changing economic situation, it is deemed expedient to amend the section of expenses in the schedule of fees and expenses annexed to the Land Code as well as the schedule of remuneration annexed to the Land Code. It is therefore necessary to enact this Act.

Act Amending the Land Code (No. 8), B.E. 2542 (1999)¹⁰⁹

Remarks:- The reasons of the promulgation of this Act are as follows: It is considered expedient to allow the foreigners who invest their money in the significant businesses that economically and socially benefit the country to be able to acquire the certain amount of land for residential purpose as prescribed by the law. The acquisition of land by foreigners is to facilitate foreigners who engage in the business operated in the Kingdom, being a supporting factor in deciding to invest their capital, increasing the purchasing power in the real estate business sector which is presently in the sluggish condition; this is one of the measures to rehabilitate the country’s overall economic situation. It is therefore necessary to enact this Act.

Act Amending the Land Code (No. 9), B.E. 2543 (2000)¹¹⁰

Next Page [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13]
[14] [15] [16] [17] [18] [19] [20] [21] [22] [23] [24] [25]

107. Published in the Government Gazette, Vol. 109, Part 14, Page 3, dated 27th February B.E. 2535 (1992).