7 September 2015
On 7 August 2015, the National Legislative Assembly (the "NLA") approved the Business Collateral Act (the "Act") as proposed by the National Council for Peace and Order. We summarise below the provisions of the Act which, once implemented, would address certain obstacles under the Civil and Commercial Code (the "CCC") that currently prevent the taking of security. The Act would make the taking of security in Thailand more practical and covers a broader range of assets that could be used as security.
Thailand: Business Collateral Act