Section 25. No person shall reveal any statement known or received through the carrying out of duty under Section 22 or Section 24, except where he has the power to do so under the law.

Section 26. In the performance of the duty, the Chief Accounts Inspector and the Accounts Inspector shall be competent officials under the Penal Code.

Chapter 5
Penalty Provisions
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Section 27. Any person who contravenes or does not comply with the Notification of the Director-General issued under Section 7 (1), (2), (3), (4) or (6) shall be liable to a fine not exceeding ten thousand Baht. Where the contravention or non-compliance with the notification of the Director-General issued under Section 7 (1), (2), (3) or (4), a further fine shall be not exceeding five hundred Baht each day until he so complies.

Section 28. Any person having the duty to keep accounts, who does not provide the bookkeeping under Section 8 or Section 9, shall be liable to a fine not exceeding thirty thousand Baht, and a further fine of not exceeding one thousand Baht each day until he so complies.

Section 29. Any person having the duty to keep accounts, who does not comply with Section 10, Section 12 or Section 19 paragraph one, shall be liable to a fine not exceeding ten thousand Baht.

Section 30. Any person having the duty to keep accounts, who does not comply with Section 11 paragraph one, shall be liable to a fine not exceeding fifty thousand Baht.

Section 31. Any person having the duty to keep accounts, who does not comply with Section 11 paragraph three, Section 13, Section 14, Section 15, or Section 17, shall be liable to a fine not exceeding five thousand Baht.

Section 32. Any person having the duty to keep accounts, who does not comply with Section 11 paragraph four, shall be liable to a fine not exceeding twenty thousand Baht.

Section 33. Any person having the duty to keep accounts, who informs a false statement under Section 15 to the Chief Accounts Inspector or the Accounts Inspector that the accounts or the documents relevant thereto are lost or damaged, shall be liable to imprisonment for a term not exceeding six months, or to a fine not exceeding ten thousand Baht, or to both.

Section 34. Any person who does not comply with Section 20 shall be liable to a fine not exceeding ten thousand Baht.

Section 35. Any person who does not comply with Section 21 shall be liable to a fine not exceeding five thousand Baht.

Section 36. Any person, who obstructs the performing of duties of the Chief Accounts Inspector or the Accounts Inspector carrying out the duty under Section 22, shall be liable to imprisonment for a term not exceeding one year, or to a fine not exceeding twenty thousand Baht, or to both.

Any person who does not render facilities to the Chief Accounts Inspector or the Accounts Inspector carrying out the duty under Section 22, or who disobeys the order of the Chief Accounts Inspector or of the Accounts Inspector issued under Section 24, shall be liable to imprisonment for a term not exceeding one month, or to a fine not exceeding two thousand baht, or to both.

Section 37. Any person who contravenes Section 25, shall be liable to imprisonment for a term not more than six months, or to a fine not exceeding ten thousand Baht, or to both.

Where the offender under paragraph one is the Chief Accounts Inspector, the Accounts Inspector, or the Official, he shall be liable to imprisonment for a term not exceeding one year, or to a fine not exceeding twenty thousand Baht, or to both.

Section 38. Any person who damages, destroys, hides or renders lost or useless the accounts or the documents relevant thereto, shall be liable to imprisonment for a term not exceeding one year, or to a fine not exceeding twenty thousand Baht, or to both. Where the offender under paragraph one is the person having the duty to keep accounts, shall be liable to imprisonment for a term not exceeding two years, or to a fine not exceeding forty thousand Baht, or to both.

Section 39. Any person who makes false entry, alterations or neglects to make entry in the accounts or financial statement, or alteration in the documents relevant thereto, shall be liable to imprisonment for a term not exceeding two years, or to a fine not exceeding forty thousand Baht, or to both.

Where the offender under paragraph one is the person having the duty to keep accounts, shall be liable to imprisonment for a term not exceeding three years, or to a fine not exceeding sixty thousand Baht, or to both.

Section 40. Where the offender liable to the penalty under this Act is a juristic person, a managing director, a managing partner, a representative of the juristic person, or any person responsible for the operations of such juristic person, shall be liable to a penalty to the same extent prescribed for such offences, except where it can be proved that he has not participated or has not given consent to the commission of the offence of such juristic person.

Section 41. The offences under Section 27, Section 28, Section 29, Section 30, Section 31, Section 32, Section 35 and Section 36 paragraph two, the Director-General or the person entrusted by him, shall have the power to settle a fine. And when the offenders have paid the fine as settled, it shall be deemed that the case is over under the Criminal Procedure Code.

Transitory Provisions
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Section 42. The Ministerial Regulations or notifications issued under the Announcement No. 285 of the National Executive Council dated 24th November B.E. 2515 (1972) which have been enforced before the enforcement date of this Act, shall remain enforce so far as they are not contrary to or inconsistent with this Act. In this respect, until there will be the Ministerial Regulations or Notifications issued under this Act, which are enforced.

Any person having been a bookkeeper of the person having the duty to keep accounts before the enforcement date of this Act for not less than five years but has no the qualifications of being the bookkeeper as prescribed by the Director-General under Section 7 (6), if willing to be the bookkeeper under this Act, such person shall inform to the Director-General in accordance to the rules, procedures and conditions notified and prescribed by the Director-General within sixty days as from the enforcement date of this Act. And when such person attends and accomplishes the training in accordance with the rules, procedures and time periods notified and prescribed by the Director-General, such person shall be the bookkeeper for another eight years from the enforcement date of this Act.

Section 43. While there are no accounting standards being prescribed by law, it shall be deemed that the accounting standards prescribed by the Institute of Certified Accountants and Auditors of Thailand with the resolution of the Board of Supervision of Auditing Practices to enforce shall be the accounting standards under this Act.

Section 44. The joint venture under the Revenue Code having had its joint venture operation before the enforcement date of this Act, does not comply with this Act until a new accounting period commences after the enforcement date of this act.

Section 45. The person having the duty to keep accounts shall provide a bookkeeper in accordance with Section 19 within one year from the enforcement date of this Act.

The time period under paragraph one, by the Director-General with the approval of the Minister, shall be extended according to the necessity in each circumstance, but not exceeding one year.

During the period under paragraph one and paragraph two, the provision under Section 29 shall not be enforced to the person having the duty to keep accounts who has not yet provided a bookkeeper under Section 19 paragraph one.

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