このたび、森・濱田松本法律事務所アジアプラクティスグループでは、東南・南アジ ア各国のリーガルニュースを集めたニュースレター、MHM Asian Legal Insights第167 号（2024 年 9 月号）を作成いたしました。今後の皆様の東南・南アジアにおける業務 展開の一助となれば幸いに存じます。 ※本レターに記載した円建て表記は、ご参照のために、各現地通貨を現在の為替レー トで換算したものとなります。 1. タイ： 個人情報保護法（PDPA）施行以来、初の行政罰が適用され た注目事例 タイの個人情報保護委員会（Personal Data Protection Committee：「PDPC」）は、2024 年 8 月 21 日、タイ個人情報保護法（Personal Data Protection Act：「PDPA」）の違反に よる初の行政罰を科したことを発表しました。PDPA の違反による行政罰の実際の適用 は、PDPA が 2022 年に全面的に施行されて以来初めての事例となり、現地でも注目さ れています。 PDPA の違反による初の行政罰の適用事例（「本件」）は、オンライン通販事業を行う 現地企業（「本企業」）から、詐欺的な Scam Call を行う詐欺グループに、大量の個人情 報が流出したという事例です。

Dissolution is the process of de-registering a company from the company registry at the Department of Business Development (“DBD”). When considering the life cycle of a business operation, the voluntary dissolution by the shareholders appears to be the usual way to end the company’s operations. There are several circumstances that will lead companies to the dissolution and subsequently, the liquidation process. Under Sections 1236 and 1237 of the CCC, a limited company may be dissolved by the following causes:

Winding up of a private limited company in Thailand takes longer time than registering it. The Civil and Commercial Code (“CCC”) of Thailand is the main legislation that sets out the requirements and procedures for winding up of the company as summarized below. The Articles of Associations of the company and the Shareholders Agreement (if any) made amongst the shareholders of the company may also set out requirements in addition to those under the CCC.

Dissolution

このたび、森・濱田松本法律事務所アジアプラクティスグループでは、東南・南アジ ア各国のリーガルニュースを集めたニュースレター、MHM Asian Legal Insights第160 号（2024 年 2 月号）を作成いたしました。今後の皆様の東南・南アジアにおける業務 展開の一助となれば幸いに存じます。 ※本レターに記載した円建て表記は、ご参照のために、各現地通貨を現在の為替レー トで換算したものとなります。

マレーシアの Income Tax Act 1967 が改正され、2024 年 1 月 1 日より、一定の会社 の株式の譲渡益はキャピタルゲイン課税の対象となりました。改正後も個人による譲渡 については課税対象外とされていますが、会社等の法人による譲渡の場合は一定の課税 が生じます。 2024 年 1 月 1 日からの譲渡益課税の対象となるのは、以下の会社の株式の譲渡益で す。

2023 was a year of political and economic uncertainty in Thailand, especially for the Thai stock market, when a number of companies in financial distress aggressively sought rescue by engaging in a formal court-supervised restructuring process (known as “Rehabilitation Proceedings”). This trend is expected to continue in 2024.

2023 Key Takeaways

Insolvency matters in Thailand are regulated by the Bankruptcy Act, B.E. 2483 (1940) as amended (the “Bankruptcy Act”). The authoritative body that wields judicial power in these matters is the Central Bankruptcy Court (the “Court”). The core insolvency procedures are: (i) bankruptcy proceedings; and (ii) rehabilitation proceedings. Bankruptcy proceedings are legal procedures overseen by the Court and the official receiver, with a key objective of gathering debtor's assets to be distributed as repayment of debt among the creditors.

Business Rehabilitation Proceedings in Thailand

Overview of Rehabilitation Proceedings

The primary goal of business rehabilitation proceedings is to provide debtors who are facing insolvency with various mechanisms to address their financial difficulties. This includes restructuring their liabilities and assets while also ensuring that creditors receive repayment equal to or greater than the amount they would have received if the debtor had been declared bankrupt by the court.

Since the outbreak of Covid-19, the Thai economy has experienced a prolonged shutdown, leading to the need for bankruptcy and rehabilitation processes to address the financial challenges faced by businesses. However, there is a common misconception among the public that rehabilitation is synonymous with bankruptcy. This misunderstanding arises from the fact that rehabilitation provisions are enshrined in the same legislation as the Bankruptcy Act B.E.2483 (1940), leading to the belief that rehabilitation is equivalent to bankruptcy.

In 2016, the regulation concerning small and medium enterprises (“SMEs”) was initially introduced to aid SME owners in managing their debts through rehabilitation processes that safeguard the interests of both debtors and creditors.

Over the past decade, business rehabilitation proceedings in Thai courts have received a great deal of attention from debtors and creditors, especially after the COVID-19 pandemic. Business rehabilitation and bankruptcy proceedings have different objectives in court. As a result, Thai courts have a different perspective and set of criteria for considering and approving rehabilitation proceedings than for bankruptcy petitions. Both proceedings are outlined in the Bankruptcy Act B.E 2483 (1940). This article mainly discusses in-court business rehabilitation proceedings.