CHAPTER 11
COMPETENT OFFICER SECTION 264. in executing his duties, a competent officer shall have the power to:
(1) enter into the place of business or premises of a securities company, mutual fund
supervisor, custodian, the Securities Exchange, over-the-counter center, clearing
house, securities depository center, securities registrar or the place where the data of
such securities company or institution is collected or processed by computers or any
other equipment, during the hours between sunrise and sunset, or during the business
75
hours of such places, in order to examine the operations, assets and liabilities of such
securities company or institution, including documents, evidence or information
concerning such securities company or institution;
(2) enter into the place of business of a promoter of a public limited company, a company
which issues securities or an owner of securities who offers for sale securities to the
public or any person, or the place where the data of such person is collected or
processed by computers or any other equipment, during the hours between sunrise
and sunset, or during the business hours of such places, to inspect accounts or other
related documents and evidence;
(3) enter into a commercial bank, financial institution or any place during the hours
between sunrise and sunset, or during the business hours of such places, to inspect
accounts, documents or evidence which may be related to the commission of offences
under the provisions of this Act;
(4) seize or attach documents, or evidence related to the commission of offences under
the provisions of this Act for the purpose of inspection or taking legal action;
(5) order a director, officer, employee or auditor of a securities company, mutual fund,
mutual fund supervisor, custodian, the Securities Exchange, over-the-counter center,
clearing house, securities depository center, securities registrar and persons who
collect or process the data of such securities company or institution by computers or
any other equipment, to testify or to deliver copies of or present accounts, documents,
seals or other evidence related to the businesses, operations, assets and liabilities of
such securities company or institution;
(6) order any person who purchases or sells securities with or through a securities
company or member of the Securities Exchange or over-the-counter center to testify
or deliver copies of or present accounts, documents and other evidence related to the
purchase or sale of securities;
(7) order any person who may be of use in executing duties of the competent officer to
testify or deliver copies of or present accounts, documents, evidence or any objects
related to or necessary for the execution of the duties of the competent officer;
(8) enter into a place of business to inspect the condition or the operations of any debtor
of any securities company during the hours between sunrise and sunset or during the
business hours of such place.
In executing duties of the competent officer under the first paragraph, the persons concerned
shall give reasonable assistance.
After having entered and inspected in accordance with (1), (2), (3) or (8), if the inspection has
not been completed, the competent officer may continue the inspection into the night or
beyond the business hours of such places.
The exercise of powers of the competent officer in accordance with (6), (7) and (8) shall be
carried out against the person who is directly involved in the matter under inspection and
shall require prior approval from the SEC Office and in the case of (6) and (7), the competent
officer shall specify a reasonable period for such person to comply with the order.
SECTION 264/1.4 Upon request of a foreign authority with the power under respective
foreign law on securities and exchange or other laws of similar nature, the SEC Office
shall have the power to provide assistance by gathering necessary information or evidence
for the purpose of determining whether there has been any violations of the law on
securities and exchange or other laws of similar nature of the requesting country; provided
that the assistance shall be subject to the following conditions:
(1) the assistance shall not prejudice the public interest of Thailand or the preservation
of national confidentiality;
(2) the matter which is the ground for such assistance must be categorized as the same
type of offence under this Act;
(3) the requesting foreign authority agrees or consents to provide reciprocal assistance
to the SEC Office upon request.
For purposes of this Section, the provision of Section 264 shall apply mutatis mutandis.
SECTION 265. In executing his duties, the competent officer shall present his
identification card to the persons involved.
The identification card of the competent officer shall be in the form specified in the
ministerial regulations.
SECTION 266. In executing his duties in accordance with this Act, the competent officer
shall be an official under the Criminal Code.
SECTION 267. In cases where there is evidence that any person has committed an offence
under this Act which may cause damage to the interests of the public and the SEC Office has
reasonable grounds to believe that the wrongdoer would remove or dispose of his properties,
the SEC Office with the approval of the SEC shall have the power to order seizure or
attachment of such person's properties or the properties for which there is reasonable
evidence to believe that they belong to such person. However, the period of seizure or
attachment may not exceed one hundred and eighty days unless an action is brought in court,
and such seizure or attachment order shall still be effective until court orders otherwise.
Where circumstances render it impossible to bring the case into court within one hundred and
eighty days, the court having jurisdiction may extend the period of seizure or attachment as
requested by the SEC Office, but may not extend the period beyond another one hundred and
eighty days.
The SEC Office shall have the power to authorize the competent officer to proceed with the
seizure or attachment of the properties under the first paragraph.
The provisions of the Revenue Code shall apply to the seizure or attachment of the properties
under the first paragraph mutatis mutandis.
In a case under the first paragraph, where there are reasonable grounds to suspect that such
person will abscond from the Kingdom, upon request by the SEC Office, the Criminal Court
shall have the power to prohibit such person from leaving the Kingdom, and in the case of
extreme urgency, the SEC shall prohibit such person from leaving the Kingdom on a
temporary basis for a period not exceeding fifteen days until the Criminal Court orders
otherwise.
Next Page
[1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18]
[19] [20] [21] [22] [23] [24] [25] [26] [27] [28] [29] [30] [31] [32] [33] [34] [35]
4. indicated amendment by the Securities and Exchange Act (No. 4) B.E. 2551 |
