Reform of the Capital Market and Digital Asset Framework
The Cabinet approved four draft bills amending the Securities and Exchange Act B.E. 2535 (1992), the Derivatives Act B.E. 2546 (2003), the Trust for Transactions in Capital Market Act B.E. 2550 (2007), and the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018). Among the amendments, a major shareholder of a securities-business operator, being a person holding or benefiting from more than ten percent of the voting rights, would require the approval of the Securities and Exchange Commission; electronic processes in the capital market would be accorded legal effect; and officers of the Commission would be empowered to conduct investigations jointly with the Department of Special Investigation in respect of offences capable of affecting confidence in the market. The bills will proceed to Parliament and are not yet enacted.
Extension of the Labour Court's Criminal Jurisdiction
The Cabinet approved a draft bill conferring on the Labour Court jurisdiction to try criminal offences under eleven labour statutes, including the Labour Protection Act B.E. 2541 (1998) and the Occupational Safety, Health and Environment Act B.E. 2554 (2011), with appeal lying to the Court of Appeal for Specialised Cases. A companion bill preserves the exclusion of human-trafficking matters from the Labour Court. Both bills will proceed to Parliament. Employers are advised to regularise any outstanding labour and occupational-safety compliance in anticipation of a specialised criminal forum.
Extension of Social Security to Seasonal Workers
The Cabinet approved in principle a draft Royal Decree bringing seasonal workers engaged in cultivation, fishing, forestry, and animal husbandry within the Social Security system established under the Social Security Act B.E. 2533 (1990). The draft remains subject to review by the Office of the Council of State and to publication in the Government Gazette before it becomes operative. Affected employers should anticipate an obligation to register such workers and to remit contributions upon the Decree taking effect.
Cooperation with the Kingdom of Saudi Arabia
The Cabinet approved the records of the second meeting of the joint committees under the Saudi-Thai Coordination Council, comprising five committees, the investment committee being chaired on the Thai side by the Secretary-General of the Board of Investment. These are instruments of cooperation and do not constitute binding commitments as to market access.
Extension of the Fishing Vessel Buy-Back Scheme
The Cabinet extended the period of the scheme for the permanent withdrawal of commercial fishing vessels, comprising 923 vessels at a total of 1,622.61 million baht, to conclude within fiscal year B.E. 2569 (2026). Of that number, 782 vessels have been compensated. This decision is operative.
How We Can Help
Dej-Udom & Associates advises on the reform of the capital-market and digital-asset framework, on exposure before the Labour Court and workforce compliance, on the extension of social security, and on the Saudi-Thailand investment corridor. To discuss the implications of these developments for your business, please contact [email protected].
Disclaimer: This publication is intended for general information only and does not constitute legal advice. For advice tailored to your circumstances, please contact Dej-Udom & Associates directly.