CHAPTER 16
The Registrar and the Competent Officials

Section 186. In accepting for registration under this Act, the Registrar and the Competent Officials shall have powers to question for facts and the applicant shall submit documents and related evidence or bring in persons concerned to testify as required.

Section 187. In the case where the application for registration is correct and complete the Registrar shall accept for registration. But if the application for registration is incorrect or the attached documents are incomplete or any item in the application for registration or documents is in consistent with the law, the Registrar shall instruct the applicant to make it correct, complete, or consistent, and after the applicant has carried out as instructed, the Registrar shall accept for registration.

After having accepted the application for registration, the Registrar shall have brief particulars representing the content of the application accepted for registration, published in the Government Gazette .

When the publication of the content of the application under paragraph two has been made, it shall be deemed that the general public has been informed of the content published from the day after the date of its publication.

In the case where the Registrar issue an order not to acceptance for registration, the Registrar shall notify the applicant in writing of the order together with the reasons thereof. In such case, the applicant may appeal against the order of the Registrar to the Minister within one month from the date of receipt of the notification of the order.

The decision of the Minister shall be final.

Section 188. In the case where the Registrar finds the list of shareholders submitted under Section 64 incorrect, he is empowered to order the company in writing to make correction within a reasonable time as fixed by him.

Section 189. If it appears to the Registrar from the fax that events referred to Section 155(1) or (2) have accurred with respect to any company, the Registrar shall have the power to order the company to rectify it within the period as specified by the Registrar.

Section 190. For the purpose of compliance with this Act, the Registrar and the Competent Office shall have the power to ender the offices and any premises of the company during work hours of the company to inspect documents and other evidence prepared under this Act and shall also have the power to call persons concerned to give statements. In this connection, the competent official shall produce his identify card to such persons and such persons shall provide reasonable assistance and convenience.

The identify card of the competent official shall be in the form prescribed by the Minister.

CHAPTER 17
Penalties

Section 191. Any company which fails to comply with Section 11, Section 25, Section 31 paragraph two, Section 40, Section 48, Section 51, Section 55 paragraph one, Section 58, Section 59, Section 62 paragraph two, Section 63 paragraph two, Section 64, Section 65 paragraph three, Section 108 paragraph two, Section 127, Section 133, Section 138 paragraph two, Section 142, Section 143, Section 145 paragraph two, Section 188 or Section 189 shall be liable to a fine not exceeding twenty thousand baht.

Section 192. Any promoter who fails to comply with Section 20 paragraph three, Section 28, or Section 37 paragraph one shall be liable to a fine not exceeding twenty thousand baht.

Section 193. Any promoter of who violates Section 26 shall be liable to an imprisonment for a term not exceeding three years or to a fine not exceeding six hundred thousand baht or both.

Section 194. Any promoter who fails to comply with Section 27 shall be liable to a fine not exceeding one hundred thousand baht.

Section 195. Any board of directors which fails to comply with Section 37 paragraph two, Section 74, Section 79, Section 83 paragraph two, Section 96 paragraph three, Section 98 paragraph one, Section 100, Section 101, Section 105 paragraph three, Section 112, Section 113, Section 115 paragraph four, Section 151, or Section 183 shall be liable to a fine not exceeding twenty thousand baht.

Section 196. Any board of directors which fails to comply with Section 39, Section 40, Section 150, Section 157 or Section 182 shall be liable to a fine not exceeding forty thousand baht.

Section 197. Any board of directors which violates Section 43 shall be liable to imprisonment for a term not exceeding three years or to a fine not exceeding six hundred thousand baht or both.

Section 198. Any person who violates Section 55 paragraph two shall be liable to imprisonment for a term not exceeding one year and to a fine not exceeding two hundred thousand baht.

Section 199. Any promoter who violates Section 57 paragraph two shall be liable to a fine not exceeding twenty thousand baht or two times the value of shares transferred, whichever is higher.

Section 200. Any company which fails to comply with Section 61, Section 62 paragraph one, or Section 96 paragraph one shall be liable to a fine not exceeding fifty thousand baht.

Section 201. Any company which violates Section 66 shall be liable to a fine not exceeding fifty thousand baht or two times the value of shares held or pledged, whichever is higher.

Section 202. Any chairman of the board or any person entrusted by him who failes to comply with Section 81 paragraph two or Section 82 shall be liable to a fine not exceeding ten thousand baht.

Section 203. Any director who fails to comply with Section 88 or complied therewith only in part or not according to fact is shall be liable to a fine not exceeding twenty thousand baht.

Section 204. Any director, managing director, or person authorized to act on behalf of the company who acted in violated of Section 89 shall be liable to a fine not exceeding twenty thousand baht or two times the amount granted in loan, whichever is higher.

Section 205. Any company which fails to comply with Section 109 shall be liable to a fine not exceeding two hundred thousand baht and a daily fine of two thousand baht until the failure is corrected.

Section 206. Any company which fails to comply with Section 110, Section 111, or Section 137 shall be liable to a fine not exceeding twenty thousand baht.

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