Section 11. A Minister is prohibited from committing any act, which has the characteristics of exercising control, or issuing an order relating to the management of partnership stakes or shares or procurement of benefits from the partnership stakes or shares.

Section 12. A juristic person is prohibited from giving consent or proceeding by any means for the purpose conferring the Minister with an opportunity to administer, control or issue orders relating to the management of partnership stakes or shares or procurement of benefits from the partnership stakes or shares, or disclose to any person in such manner as to inform the Minister of the administration or management of partnership stakes or shares received from such Minister, except where the disclosure is in accordance with the law or a report of operations in accordance with the conditions prescribed by the NCCC.

Section 13. A juristic person shall prepare a separate account from the operational accounts of the juristic person, which shows the management of partnership stakes or shares received from a Minister and benefits received from the management of such partnership stakes or shares.

Partnership stakes or shares received by the juristic person from a Minister and benefits received from the management of such partnership stakes or shares are not properties of the juristic person which creditors of the juristic person can seize or attach for the enforcement of debts in both civil and insolvency proceedings, except where the creditors of the juristic person have the right to enforce an obligation attached to the partnership stakes or shares or benefits directly arising from such partnership stakes or shares.

The provisions in paragraph two shall apply mutatis mutandis to the dissolution of the juristic person.
Section 14. In the receipt and management of partnership stakes or shares of Ministers under this Act, the juristic person receiving such partnership stakes or shares shall be exempt from the provisions of any law which prohibit the juristic person from becoming a partner or shareholder in other partnerships or companies or where there is a limit on the amount of funds for the management of properties belonging to others.

In the case where there is a law limiting the amount of partnership stakes or shares of juristic persons in other partnerships or companies, the amount of partnership stakes or shares received from the Minister including the benefits arising from the partnership or shares shall not be accounted with the amount of partnership stakes or shares which the juristic person is entitled in other partnerships or companies.

Section 15. In the case where a juristic person who received partnership stakes or shares from a Minister dissolves or becomes insolvent, once the Minister receives the return of partnership stakes or shares and benefits arising from the management of partnership stakes or shares, if the Minister still wishes to continue receiving benefits from such partnership stakes or shares, the Minister shall notify such intention to the President of the National Counter Corruption Commission within thirty days as from the date of receipt of such returned partnership stakes or shares and proceed to transfer such partnership stakes or shares to another juristic person in accordance with the provisions of this Act.

In the case where the Minister receives additional partnership stakes or shares during the term of office as a Minister, and such partnership stakes or shares exceed the amount prescribed in section 4, if the Minister still wishes to continue receiving benefits from such partnership stakes or shares, the provisions in paragraph one shall apply mutatis mutandis.

Section 16. Any juristic person not complying with section 10 or section 13 paragraphs one shall be liable to a fine not exceeding three hundred thousand baht.

Section 17. Any Minister who violates section 11 or any juristic person who violates section 12 shall be liable to imprisonment for a term from one year to ten years or a fine from one hundred thousand baht to one million baht, or both.

Section 18. In the case where a juristic person commits an offence under this Act, the directors, managers or persons responsible for the operations of such juristic person shall be deemed as joint offenders with the juristic person unless it can be proven that such act of the juristic person was committed without his knowledge or consent.

Section 19. A Minister holding office on the date at which this Act comes into force shall proceed to secure compliance with this Act within one hundred and twenty days as from the date at which this Act comes into force.

Section 20. The Prime Minister shall have charge and control of the execution of this Act.

Countersigned by:
Chuan Leekpai
Prime Minister

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NB:– The reasons for promulgating this Act are as follows. Whereas section 209 of the Constitution of the Kingdom of Thailand states that a Minister shall not be a partner or shareholder of a partnership or a company or retain his or her being a partner or shareholder of a partnership or a company up to the limit as provided by law; in the case where any Minister intends to continue to receive benefits in such cases, such Minister shall inform the President of the National Counter Corruption Commission within thirty days as from the date of the appointment and shall transfer his or her shares in the partnership or company to a juristic person which manages assets for the benefits of other persons as provided by law; in this connection, such Minister is prohibited from committing any act which has the characteristics of exercising any administration or management relating to the shares or business of such partnership or company. It is therefore necessary to enact this Act.