Chapter 8
Penalties

Section 121 Whoever undertakes the commercial banking business, finance business or credit foncier business without permission shall be liable to imprisonment for the period of two to ten years and a fine of two hundred thousand Baht to one million Baht.

Section 122 Any financial institution which violates or fails to comply with Section 11 shall be liable to a fine not exceeding one hundred thousand Baht, and to a further fine not exceeding one thousand Baht per day for every consecutive day during which such violation continues.

Section 123 Whoever violates or fails to comply with Section 12 shall be liable to imprisonment for the period of not exceeding one year or to a fine not exceeding one hundred thousand Baht, or both and to a further fine not exceeding one thousand Baht per day for every consecutive day during which such violation continues.

Section 124 Any financial institution which violates or fails to comply with Section 13, the first paragraph of Section 15, Section 37, Section 81 or Section 82, or violates or fails to comply with notifications, stipulations or rules prescribed by virtue of the second paragraph of Section 15, the first paragraph of Section 26, Section 37 or Section 82 shall be liable to a fine not exceeding three hundred thousand Baht and to a further fine of not exceeding three thousand Baht per day for every consecutive day during which such violation continues or until rectification has been made.

Section 125 Any financial institution which violates or fails to comply with Section 20, the first paragraph of Section 21, Section 22, Section 38, the first paragraph of Section 40, Section 41, Section 44, Section 47 or Section 84, or violates or fails to

comply with notifications, stipulations or rules prescribed by virtue of Section 38, Section
39, the second paragraph of Section 40, Section 41, Section 46, Section 47 or Section 84 shall be liable to a fine not exceeding five hundred thousand Baht and to a further fine of not exceeding five thousand Baht per day for every consecutive day during which
such violation continues or until rectification has been made.

Section 126 Whoever violates or fails to comply with Section 14, Section 54 or Section 56 or the parent company of financial institution which violates Section 55 shall be liable to imprisonment for the period of six months to three years or to a fine of sixty thousand Baht to three hundred thousand Baht, or both and to a further fine of not exceeding three thousand Baht per day for every consecutive day during which such violation continues, as the case may be.

Section 127 Whoever violates or fails to comply with the second paragraph of Section 26, shall be liable to a fine of sixty thousand Baht to three hundred thousand Baht and to a further fine of not exceeding three thousand Baht per day until rectification has been made.

Section 128 Any financial institution violates or fails to comply with Section 16, Section 24, the first paragraph of Section 25, Section 29, Section 30, Section 31, Section 32, Section 34, Section 35, Section 36, Section 43, Section 48, Section 49, Section 50,
Section 51, Section 58, Section 59, Section 60, Section 61, Section 62, Section 63, Section 64, Section 66, Section 67, Section 68, Section 71, the first paragraph of Section 73, Section 74, Section 78, Section 80, Section 93, Section 94 or Section 95, or violates or fails to comply with notifications, stipulations, rules, conditions or orders prescribed by virtue of Section 9, the first paragraph of Section 10, Section 16, Section 29, Section 30, Section 31, the first paragraph of Section 32, Section 33, Section 34, Section 35, Section 36, Section 42, Section 43, Section 48, Section 49, Section 50, Section 51, Section 58, Section 59, Section 60, Section 61, Section 62, Section 63, Section 64, Section 66, Section 67, Section 71, the first paragraph of Section 73, the second paragraph of Section 74, Section 78, Section 80, Section 89, Section 90 (1), (3) and (4) , Section 95 or Section 96 shall be liable to a fine not exceeding one million Baht and a further fine of not exceeding ten thousand Baht per day for every consecutive day during which such violation continues or until rectification has been made.

Section 129 In the case where there is violation of Section 20, Section 21, Section 22, Section 34, Section 48, Section 49, Section 50 or Section 59, as the case may be, where the financial institution is able to prove that circumspection in examining related person is exercised but it is still unaware and unable to prevent such violation, it shall be deemed that the financial institution has not violated under such Sections.

Section 130 Whoever violates or fails to comply with rules prescribed under Section 56 or Section 57, shall be liable to a fine not exceeding one million Baht and to a further fine of not exceeding ten thousand Baht per day for every consecutive day during which such violation continues or until rectification has been made.

Section 131 Whoever violates or fails to comply with Section 104 or fails to comply with the order of the Control Committee or control officer under Section 114 shall be liable to imprisonment for a term not exceeding three years or to a fine not exceeding three hundred thousand Baht or both, and to a further fine of not exceeding three thousand Baht per day for every consecutive day during which such violation continues.

Section 132 In the case where the offender of Section 121 or Section 123 is a juristic person, its director, manager or person with power of management, he shall be liable to the penalty prescribed for such offense unless he can prove that he had no part in the commission of such offence. Subject to Section 139, in the case where a financial institution commits an offense under Section 122, Section 124, Section 125 or Section 128, its director, manager or person with power of management shall be liable to penalty prescribed for such offense unless he can prove that he had no part in the commission of such offence.

Section 133 The offense under Section 122, Section124, Section 125, Section 128 and the second paragraph of Section 132, if the offender has not been prosecuted or the offence has not been settled out of court under Section 156 within two years from the date of the Bank of Thailand finding out the offense or within five years from the date of its commission, the prosecution of such offence shall be prescription, by no longer subject to prosecution.

Section 134 Whoever gives a false statement to the financial institution examiner or the Control Committee which may cause damage to the other or the public shall be liable to imprisonment for a term of not exceeding six months or a fine not exceeding sixty thousand Baht or both.

Section 135 Whoever obstructs or fails to comply with the order of the financial institution examiner, the Control Committee or the control officer in the performance of his duty under this Act shall be liable to imprisonment for a term of not exceeding one year or a fine not exceeding one hundred thousand Baht or both.

Section 136 Whoever fails to facilitate the financial institution examiner, person as prescribed in the third paragraph of Section 85, Control Committee or control officer in the performance of his duty under this Act shall be liable to imprisonment for a term of not exceeding one year or a fine not exceeding one hundred thousand Baht or both.

Section 137 Whoever removes, damages, destroys, or renders useless the seal or mark stamped or affixed by a financial institution examiner, Control Committee or control officer shall be liable to imprisonment for a term of not exceeding three year or a fine not exceeding three hundred thousand Baht or both.

Section 138 Whoever damages, destroys, conceals, takes away, loses or renders useless any property or document which a financial institution examiner, Control Committee or control officer seized, attached, kept, or ordered to be sent as evidence or for execution of the law, whether the competent officer keeps such property or document by himself or orders such person or other persons to send or keep it shall be liable to imprisonment for a term of six months to three years or a fine of sixty thousand to three hundred thousand Baht or both.

Section 139 In the case where a financial institution violates or fails to comply with Section 36, Section 50, Section 66, Section 80, Section 93, Section 94 or Section 95 or violates or fails to comply with notifications, stipulations, rules or orders prescribed by virtue of the first paragraph of Section 9, the first paragraph of Section 10, Section 33, Section 36, Section 50, Section 66, Section 71, Section 80, Section 90 or Section 95, its director, manager or person with power of management shall be liable to imprisonment for a term not exceeding one year or a fine of five hundred thousand to one million Baht or both unless he can prove that he had no part in the commission of such offence.

Section 140 Any director, manager, or person with power of management of a financial institution, who dishonestly deceives the public by the assertion of falsehood or the concealment of facts which should be revealed to the public and, by such deception, obtains a property from a number of the public so deceived or from a third person, or causes the public so deceived or a third person to execute, revoke or destroy a document of rights, shall be liable to imprisonment for a term of five to ten years and a fine of five hundred thousand to one million Baht.

Section 141 Any director, manager, or person with power of management of a financial institution, who being entrusted with the management of the property of the financial institution or of which the financial institution is a co-owner, dishonestly does any act contrary to his duties, by means whatever so as to cause damage to the usefulness in the nature of its being a property of the financial institution , shall be liable to imprisonment for a term of five to ten years and a fine of five hundred thousand to one million Baht.

Section 142 Any director, manager, or person with power of management of a financial institution, who being in possession of a thing belonging to a financial institution or of which the financial institution is a co-owner, dishonestly converts the thing to himself or a third person, shall be liable to imprisonment for a term of five to ten years and a fine of five hundred thousand to one million Baht.

Section 143 Any director, manager, or person with power of management of a financial institution, who takes away, damages, destroys or causes depreciation in value or renders useless a property which the financial institution has the duty to look after or which is in the possession of the financial institution, if it is committed in order to cause damage to the others or the public, shall be liable to imprisonment for a term not exceeding five years and a fine not exceeding five hundred thousand Baht.

Section 144 Any director, manager, or person with power of management of a financial institution, who commits any of the following acts by knowing that a creditor of the financial institution or creditor of other persons who may avail himself of the right of the creditor of the financial institution to enforce payment of debt from the financial institution, or use or will probably use his right through the court to enforce payment in order to prevent the creditor from receiving full or part payment of the debt, shall be liable to imprisonment for a term of five to ten years and a fine of five hundred thousand to one million Baht:
(1) removes, conceals or transfers property of the financial institution to other persons; or
(2) entries book of account or performs any act in order to demonstrate false debt of the financial institution.

Section 145 Any director, manager, or person with power of management of a financial institution, who commits or refrains from any commission in order to obtain any unlawful gain for himself or other persons causing damage to the financial institution, shall be liable to imprisonment for a term of five to ten years and a fine of five hundred thousand to one million Baht.

Section 146 Any director, manager, or person with power of management of a financial institution, who commits or permits the commission any of the following acts in order to deceitfully deprive the financial institution or its shareholders of rightful gain, or deceive any person, shall be liable to imprisonment for a term of five to ten years and a fine five hundred thousand Baht to one million Baht:

(1) damages, destroys, alters, deletes or forges account, documents or securities belonging to or concerning the financial institution;
(2) maliciously entries or fails to entry matters of importance in the account or document belonging to or concerning the financial institution; or
(3) keeps book of account which are incomplete, incorrect or not up-to-date or contrary to true facts.

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