Permission of Juristic Person’s Meetings Postponement

On 26 April 2021,  the Department of Business Development, Ministry of Commerce (“DBD”) had issued the Announcement on Organizing a corporate meeting under the Announcement of the Provinces, Re: Order to close premises temporarily. The said DBD’s Announcement allows the entities which scheduled a corporate meeting held during 26-30 April 2021 to postpone the meeting in order to prevent risk transmission due to the group of people, provided that such new meeting must be scheduled within one 1 month from the original meeting schedule. In this regard, upon submission of financial statements, a copy of the list of shareholders to the DBD as required for annual submission, such entities must also provide the following documents along with them via online system:

I.  a letter clarifying the reason on why the meeting is postpone; and
II. a copy of the minutes of the shareholders' meeting or the annual report, as the case may be.

The DBD also encourages that the electronic meeting is held as prescribed in the EMERGENCY DECREE ON ELECTRONIC MEETINGS, B.E. 2563 (2020)”

Due to the above postponement of a corporate meeting held during 26-30 April 2021, specifically, the annual general meeting of shareholders (“AGM”), the annual submission of required documents will be also extended. For example:

Note:

• The DBD’s Announcement only applies with the entities located in the provinces governed by the Announcement of the Provinces, Re: Order to close premises temporarily. Those provinces are controlled areas (red zone).
• The DBD’s Announcement does not apply with a limited partnership and ordinary partnership.