NO&T Thailand Legal Update
Background
The Law Reform Commission of the Office of the Council of State (the “Commission”) held a public hearing in relation to the proposed bill of amendment of the Civil and Commercial Code (“CCC”) in relation to the provisions concerning interest rate (the “Bill”) on 18 January 2021. The Commission aims to change the rate of interest under the CCC, which is not the interest on loan of financial institutions, to adapt to the current economic situation, since Thailand has been adopting the current interest rate of seven and a half percent (7.5 %) per annum for more than ninety (90) years. As a result of the public hearing, the Commission has concluded the details of the Bill at the end of February 2021, details are provided in this newsletter.
Shunsuke Minowa, Poonyisa Sornchangwat (Co-author)
Shohei Sasaki, Shunsuke Minowa, Poonyisa Sornchangwat, Kwanchanok Jantakram (Co-author)
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Shunsuke Minowa, Poonyisa Sornchangwat (Co-author)
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Long Nguyen
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