Section 43. A person who fails to invite public to subscribe for its shares under Section 1102 of the Civil and Commercial Code shall be liable to a fine for not exceeding fifty thousand Baht.

Section 44. Repealed

Section 45. Repealed

Section 46. A person who, in public, makes false statement or conceals important statement by referring to a person, position, account, report, or affaires of the registered partnership, limited partnership, or limited company, with the following purposes:

(1) to deceive the interested party in such partnership or company about their lawful benefits; or (2) to invite other persons in order to be partners or to subscribe as shareholders or to give or submit property to such partnership or company or to be guarantor of such partnership or company or to give security for such partnership or company, shall be liable to imprisonment for a term not exceeding three years, or to a fine for not exceeding sixty thousand Baht, or to both.

Section 47. A person who attends and votes or abstains voting in the statutory or general meeting of the company by deceiving that he or she is a promoter, shareholder, or person entrusted by the promoter or shareholder shall be liable to a fine for not exceeding ten thousand Baht.

A person who gives aid to a person under paragraph one by giving him documents of subscription or certificates shall be liable to the same penalty.

Section 48. A person who, in bad faith, determines value of services or properties contributed to the registered partnership, limited partnership, or limited company higher than their real value shall be liable to a fine for not exceeding fifty thousand Baht.

Part II - Offences Relating to an Association and Foundation

Section 49. A person, who is not an association registered under the Civil and Commercial Code or other laws, expresses the word "association" with his or her name on his or her commercial seal, sign name, brochure, letter, notification or any other documents relating to his or her business, except for the purpose of registration or translation from foreign language into Thai with foreign alphabets thereon, shall be liable to a fine for not exceeding twenty thousand Baht and shall be fined for not exceeding five hundred Baht daily until stop doing such that.

Section 50. A person who carries out business of a group of person by deceiving other persons that the business thereof is the business of an association registered under the Civil and Commercial Code, and such deceiving may cause damage to other persons or public, shall be liable to imprisonment for a term not exceeding two years, or to a fine for not exceeding forty thousand Baht, or to both.

Section 51. A person with knowledge that a group of person named association in which he or she is a member is not an association registered under the Civil and Commercial Code shall be liable to a fine for not exceeding ten thousand Baht.

Section 52. An association which fails to comply with Section 80 of the Civil and Commercial Code shall be liable to a fine for not exceeding twenty thousand Baht and shall be fined for not exceeding five hundred Baht daily until the requirements under that Section have been fulfilled.

Section 53. An association which fails to register an amendment of its regulations within a period as prescribed in Section 84 of the Civil and Commercial Code shall be liable to a fine for not exceeding ten thousand Baht.

Section 54. An association which fails to register an appointment of the new member of the Board of Directors or any change of the Board of Directors within a period as prescribed in Section 85 of the Civil and Commercial Code shall be liable to a fine for not exceeding ten thousand Baht.

Section 55. An association which refuses the request of its members to examine into condition of its business and property under Section 89 of the Civil and Commercial Code shall be liable to a fine for not exceeding ten thousand Baht.

Section 56. A director of an association who carries out business of the association beyond its objectives, and such business may cause damage to good moral or public order or the security of the State, shall be liable to imprisonment for a term not exceeding three years, or to a fine for not exceeding sixty thousand Baht, or to both.

Section 57. In the case where the Board of Directors fail to notify the dissolution of the association to the Registrar within a period as prescribed in Section 105 of the Civil and Commercial Code, each director shall be liable to a fine for not exceeding ten thousand Baht, except where he or she can prove that the failure to do so is not his or her mistake.

Section 58. A person who fails to comply with Section 107 of the Civil and Commercial Code by, after liquidation, distributing the remaining assets to members of the association, or transferring such assets to other persons, shall be liable to imprisonment for a term not exceeding one year, or to a fine for not exceeding twenty thousand Baht, or to both.

Section 59. A person who, after the Registrar withdraw the name of the association from the register under Section 102 of the Civil and Commercial Code or the Court have an order dissolving the association under Section 104 of the Civil and Commercial Code, expresses that he or she is a director or a member of the withdrawn or dissolved association shall be liable to a fine for not exceeding twenty thousand Baht.

Section 60. A person who is not a foundation registered under the Civil and Commercial Code but express the word "foundation" with his or her name on his or her commercial seal, sign name, brochure, letter, notification or other documents relating to his or her business, except for the purpose of registration or translation from foreign language into Thai with foreign alphabets thereon, shall be liable to a fine for not exceeding twenty thousand Baht and shall be fined for not exceeding five hundred Baht daily until stop doing such that.

Section 61. A person who carries out any business by deceiving other persons that such business is the business of a foundation registered under the Civil and Commercial Code, and such deceiving may cause damage to other persons or public, shall be liable to imprisonment for a term not exceeding two years, or to a fine for not exceeding forty thousand Baht, or to both.

Section 62. A foundation which fails to comply with Section 113 of the Civil and Commercial Code shall be liable to a fine for not exceeding twenty thousand Baht and shall be fined for not exceeding five hundred Baht daily until the requirements under that Section have been fulfilled.

Section 63. A foundation which fails to register an appointment of the new Board of Director or any change thereof to the Registrar within a period as prescribed in Section 125 of the Civil and Commercial Code shall be liable to a fine for not exceeding ten thousand Baht.

Section 64. A foundation which fails to register an amendment of its regulations within a period as prescribed in Section 126 of the Civil and Commercial Code shall be liable to a fine for not exceeding ten thousand Baht.

Section 65. A person who fails to comply with an order of the Registrar or the competence official made under Section 128 paragraph one (1) of the Civil and Commercial Code, or fails to facilitate the Registrar or the competence official who inspect the management of the foundation under Section 128 paragraph one (2) of the Civil and Commercial Code, shall be liable to imprisonment for a term not exceeding one month, or to a fine for not exceeding ten thousand Baht, or to both.

Section 66. A director of a foundation who carries out business of the foundation beyond its objectives and such business may cause damage to good moral or public order or the security of the State shall be liable to imprisonment for a term not exceeding three years, or to a fine for not exceeding sixty thousand Baht, or to both.

Section 67. In the case where the Board of Directors fail to notify the dissolution of the foundation to the Registrar within a period as prescribed in Section 132 of the Civil and Commercial Code, each director shall be liable to a fine for not exceeding ten thousand Baht, except where he or she can prove that the failure to do so is not his or her mistake.

Section 68. A person who fails to comply with Section 134 of the Civil and Commercial Code by, after liquidation, transferring the remaining assets of the foundation to other persons shall be liable to imprisonment for a term not exceeding one year, or to a fine for not exceeding twenty thousand Baht, or to both.

Section 69. The provisions of Section 31 to Section 42 shall be applied mutatis mutandis to any person who is responsible for the carrying out business of the association or foundation.

Countersigned by Filed Marshal P. Pibulsongkram Prime Minister

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