20 January 2010

BHUMIBHOL ADULYADEJ,REX.
Given this 27th day of August 1993
Being the 48th Year of the Present Reign
_________

By the royal command of His Majesty King Bhumibhol Adulyadej, it is hereby proclaimed that:

Whereas it is expedient to establish a bank for the exportation and importation of Thailand,

His Majesty the King is thus graciously pleased that an act shall be promulgated, by and with the advice and consent of the Parliament, as follows:

SECTION 1. This Act shall be called the "Export-Import Bank of Thailand Act, 1993 (B.E. 2536)."

SECTION 2. This Act shall come into force from the day following the date of its publication in the Government Gazette.

SECTION 3. In this Act:

"Bank" means the Export-Import Bank of Thailand;

"Exporter" means the domestic business operator, including the person having the qualifications as prescribed by the Board, who exports goods or services for selling abroad in order to obtain returns in currency or any other property equivalent in value to currencies into Thailand and shall also mean the provider of services to persons abroad;

"Exporter's bank" means the commercial bank or other financial institution providing credit facilities for the exporter or processing export documents for the exporter;

"Buyer" means the importer abroad, who buys goods or services from Thailand or goods manufactured in Thailand;
"Buyer's bank" means the commercial bank, other financial institution or any other organization providing credit facilities for the buyer or processing export documents for the buyer;

"Capital fund" means the sum of the initial capital under Section 9, the fund received from the capital increase under Section 10, the remaining reserve and net profit after appropriation less losses in all accounting periods and the reserve arising from property appraisal;

"Financial instrument" means bill, debenture, bond and other instrument as prescribed by the Board;

"Board" means the Board of Directors of the Export-Import Bank of Thailand;

"Director" means the member of the Board of Directors of Export-Import Bank of Thailand;

"President" means the President of the Export-Import Bank of Thailand;

"Minister" means the Minister in charge and control of the execution of this Act.

SECTION 4. The Minister of Finance shall be in charge and control of the execution of this Act and shall be authorized to issue ministerial regulations for carrying out the duties under this Act.

Such ministerial regulations shall come into force upon their publications in the Government Gazette.

CHAPTER 1
Establishment and Capital

SECTION 5. A bank shall be established and called the “Export-Import Bank of Thailand”, abbreviated as “EXIMBANK” and shall be a juristic person.

SECTION 6. The head office of the Bank shall be set up in Bangkok and its branches or representative offices may be set up anywhere inside or outside Thailand. However, the setting up of branches or representative offices outside Thailand shall first be approved by the Minister.

SECTION 7. The Bank shall have the objective of conducting the business, which promotes and supports exports, imports, and investments for the purpose of national development by providing credit facilities, quarantee, risk insurance or other necessary services under the provisions of this Act.

SECTION 8. Within the scope of the Bank’s objective under Section 7, the Bank shall be authorized to:
(1) Hold ownership or have possessory right or have various real rights, buy, procure, sell, dispose of, lease, lease out, hire-purchase, hire-purchase out, borrow, lend, accept pledge, accept mortgage, exchange, transfer, accept transfer or execute any acts regarding the property, both inside and outside Thailand, as well as accepting property given by others;
(2) Provide credit facilities for the exporter’s bank, the exporter, the buyer’s bank or the buyer;
(3) Provide credit facilities for the importation of goods or services for use in manufacturing goods for export or for national development;
(4) Provide credit facilities or other forms of financial services in respect of international trade customary to commercial banks or other financial institutions;
(5) Guarantee the debts in case of the exporter or the buyer having received the credit facilities from the exporter’s bank or the buyer’s bank, as the case may be;
(6) Provide insurance against risk of non-payment from the buyer or the buyer’s bank;
(7) Insure investors against commercial risks in respect of overseas investment;
(8) Jointly invest in overseas business operations contributing to importation from Thailand or promote Thai business and joint-invest in domestic business operations in order to support export or national development;
(9) Buy, discount or rediscount the financial instruments or take transfer of claims of the beneficiaries in respect of such instruments;
(10) Aval, accept or intervene to honor bills;
(11) Charge interests, discounts, collect fees or other service charges on account of lending money, buying, discounting, rediscounting, guaranteeing and providing other financial services;
(12) Issue financial instruments;
(13) Sell, discount or rediscount financial instruments;
(14) Borrow money domestically or abroad for the Bank’s business;
(15) Accept money deposits for the benefits of the Bank’s business operations or for mobilizing funds from the financial institutions and money markets, excluding the mobilization of deposits from the general public;
(16) Engage in foreign exchange business;
(17) Invest the Bank’s surplus money for revenue gains as permitted by the Board; and
(18) Take all other actions in respect of or in connection with the execution to achieve the objective of the Bank.

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