Bangkok, 30 January 2019 - SEC is seeking public comments on draft notification on amendment of the definition of major shareholder of securities companies which at present is determined from the “number of voting shares” to the “number of voting rights” to ensure that the supervision of major shareholders reflects the actual controlling persons.
SEC had proposed, in principle, to
amend the definition of major shareholder of the securities companies which at
present is determined based on the “number of voting shares” to the “number of voting
rights” and opened public hearing on the matter in late 2018. The stakeholders mostly agreed with
the principle.
SEC is proposing a draft
notification of the Ministry of Finance which reflects such principle and
includes the transitional provisions with the effective period for 6 months commencing
from the Effective Date of the notification. This will serve as the timeframe
for the existing securities companies who are affected
from the amendment of the notification to apply for approval of their
respective major shareholders in accordance with the newly announced
definition.
The consultation paper is available
at www.sec.or.th/hearing. Stakeholders and
interested parties are welcome to submit comments and recommendations via the
website, facsimile to 0-2033-9660, or email: wiwat@sec.or.th or witchulada@sec.or.th. The public hearing ends on 20
February 2019.
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