After a long wait, Thailand’s Parliament approved the draft Act Amending the Civil and Commercial Code (the “Amended CCC”) on September 14, 2022. The Amended CCC (which had previously been approved by the cabinet in 2020) introduces changes to corporate governance and transactional rules, as well as processes for the merger of private limited companies. Corporate Governance and Transactional Rules The changes introduced by the Amended CCC in relation to corporate governance and transactional rules include the following: Currently, incorporation requires at least three promoters. Under the Amended CCC, only two promoters are necessary. Under the Amended CCC, a notice calling a general meeting of the shareholders is no longer required to be published in a local newspaper—the updated law only requires the notice to be sent to existing shareholders via post. However, if a company issues bearer certificates, a notice calling a general meeting of shareholders must still be published either in a local newspaper or via electronic media. To pass any resolution during a general meeting of shareholders, at least two shareholders, whether in person or via proxy, representing at least one-fourth of the capital of the company, must be present. Distribution of dividends must be completed within one month of a shareholders’ meeting or the directors passing a resolution on dividend payment. A company may be dissolved by the court if, among other circumstances, the number of shareholders decreases to one, or there are other reasons that the company can no longer exist. Merger The current Civil and Commercial Code only recognizes the concept of “amalgamation” of companies (i.e., the formation of a new company by amalgamation of at least two companies, resulting in the dissolution of the amalgamating companies). It is not possible for one of the amalgamating companies to be a surviving entity. In other words, the amalgamation of company A and company

タイの下院議会は2022年9月14日、タイ民商法の改正法案（以下、「改正法案」とする）を承認した。この改正法案は、非公開会社の発起人・株主の人数、株主総会の通知方法、取締役会の開催、合併の形態など、様々な点において変更を加えており、重要な改正といえる。   コーポレートガバナンスの観点からの改正 コーポレート・ガバナンスの観点からの改正点は多々あるが、例えば以下の事項がある。 改正法案では、非公開会社の発起人、株主は最低２人としている（現時点においては、非公開会社の発起人、株主は最低3人必要である）。株主総会で決議を行うには、会社の資本金の4分の1以上を代表する2人以上の株主が出席することで足りる。株主の数が1名になった場合は、裁判所により解散させられることがありえる。 改正法案では、原則としては、株主総会の招集通知を新聞に掲載する必要がなくなり、株主に郵送することで足りるとしている。但し、無記名式株券を発行している会社においては、株主総会の招集通知を新聞又は電子媒体において告知する必要がある（詳細は、今後発布される省令において規定される）。 配当金の分配は、株主総会又は取締役会の決議から1ヶ月以内に完了しなければならない。   合併に関する改正 現行の民商法では、会社の「合併」においては、2つの会社が合併して新しい会社を設立し、合併の対象となった旧会社は解散するという「新設合併」しか認められていない。例えば、A社とB社が合併する場合は新会社Cが設立される。A社とB社は消滅し、C社はA社とB社の権利・義務を継承する。 改正法案では、企業結合のもう一つの形態として「吸収合併」が追加された。吸収合併においては、吸収された会社は解散し、吸収した会社は存続する。例えば、A社を存続会社、B社を被吸収会社とした場合、合併手続き終了時にB社は解散し、A社は法人格を維持したままB社の資産、負債、権利、義務を自動的に継承することになる。   今後の展開 改正法は国王による承認を経て、官報に公示されてから90日後に発効する。   備考：本和文は英文記事から作成しました。原文については、以下のリンクをご参照ください。 Thailand Prepares to Enact Amended Civil and Commercial Code

The draft regulations referred to below were withdrawn from the legislative process on November 8, 2022.   On October 25, 2022, the Thai cabinet approved in principle a draft version of new ministerial regulations that permit certain types of foreign nationals to acquire land for residential use. These draft ministerial regulations represent an additional scheme that complements the existing ministerial regulations from 2002 prescribing rules, methods, and conditions for foreign nationals’ acquisition of land for residential purposes. These draft ministerial regulations aim to attract to Thailand foreign nationals who invest at least THB 40 million. The targeted foreign nationals consist of four groups: Wealthy individuals; Retirees; Foreign nationals who wish to work from Thailand; and Highly skilled expatriates. These four groups are eligible to acquire up to 1 rai (1,600 square meters) of land for use as their own residence in Bangkok, Pattaya City, a municipal area (khet thetsaban), or a designated residential area under the law governing city planning. The area must be situated outside any designated military safety zone. The THB 40 million minimum investment mentioned above may be any type of investment permitted under the ministerial regulations. Some examples include Thai government bonds, real estate or infrastructure mutual funds, real estate investment trusts (REITs), and share capital of Board of Investment (BOI) promoted entities (or a business eligible for BOI promotion). The investment must have been made before submission of the application for land ownership, and it must be maintained for at least three years. If the qualifications are met, the application for land ownership and the related supporting documents (including a certificate of investment issued by the relevant authorities) must be submitted to the director general of the Land Department for consideration and further submission to the Minister of Interior for approval. If approved, the applicant must notify the competent official within 60 days of

Tilleke & Gibbins employment specialists in Myanmar have contributed an updated Myanmar chapter to Employment and Employee Benefits Global Guide, a Thomson Reuters Practical Law online publication that provides an overview of employment and employee benefits in jurisdictions worldwide. The Myanmar chapter was written by members of Tilleke & Gibbins’ Yangon office, including Yuwadee Thean-ngarm, director; Nwe Oo, senior associate; Sher Hann Chua, consultant; and Kyaw Min Tun, consultant. The chapter covers a wide range of key employment topics, including employment status, background checks, regulation of the employment relationship, minimum wage, working hours and holidays, illness and injury of employees, discrimination and harassment, termination of employment, resolution of employer-employee disputes, redundancy/layoffs, employee representation and consultation, business transfer and insolvency, employee relocation, health and safety obligations, taxation of employment income, intellectual property issues, and more. Practical Law, produced by Thomson Reuters, is the world’s leading legal resource for business lawyers, publishing a huge range of guides for hundreds of jurisdictions and practice areas. The Employment and Employee Benefits Global Guide covers 46 jurisdiction around the world, with Tilleke & Gibbins also providing the Vietnam chapter of the guide. To view the latest version of the Myanmar chapter, please visit the Practical Law website.

Under Thai bankruptcy law, a creditor can file a request for a debtor to be placed under an absolute receivership order and bankruptcy judgment. However, the debtor must be insolvent, and the debt owed to the creditor or creditors must be at least THB 1 million (for a debtor who is a natural person) or THB 2 million (for the debtor who is a juristic person). In order to know whether the latter requirement is met, the debt must be “determinable”—that is, known and monetarily quantifiable. More specifically, determinable debt is debt (up to the filing date) in an amount that can be calculated, whether the debt is payable immediately or in the future. The debt can be under a loan agreement or under a sale-and-purchase agreement. One question that sometimes comes up is whether damages arising out of termination of such an agreement are considered determinable debt. According to a number of Supreme Court precedents, if the debt (e.g., rent, fine or penalty) can be calculated as referred to in the agreement, the debt is determinable. Three of these cases are described below. Supreme Court Case No. 2653/2526 In this case, the defendant made a partial delivery of oil (i.e., not the amount fully expected) to the plaintiff, who claimed that the defendant owed them a fine of almost THB 14.9 million, calculated in accordance with the sale-and-purchase agreement for the oil. The defendant argued that the debt was not determinable because the plaintiff did not prove whether they suffered damage or not. The Supreme Court noted that the agreement for sale and purchase of oil stated clearly that if the defendant could not deliver oil to the plaintiff in full, the plaintiff had the right to terminate the agreement and fine the defendant 25 percent of the price of the oil

On June 16, 2022, Vietnam’s National Assembly ratified the latest amendment of the country’s Intellectual Property Law, which will take effect on January 1, 2023 (except for the provisions on sound marks, which took retroactive effect on January 14, 2022, and the provisions on test data protection for agrochemicals, which will come into force on January 14, 2024). For the amended IP Law to be enforced consistently and efficiently, the government is actively working to issue a decree guiding the implementation of the amended IP Law (the “new decree”). The new decree, after being ratified, will also take effect on January 1, 2023, replacing Decree No. 103/2006/ND-CP and Decree No. 105/2006/ND-CP, two decrees issued in 2006 to guide the previous IP Law of 2005. Due to the urgency of promulgating a legislative document conforming with the amended IP Law when it takes effect, the government will formulate and promulgate the new decree under a simplified procedure. The drafting agency circulated the first draft of the new decree to seek opinions from concerned parties on October 10, 2022. The new decree is seen as comprehensive guidance to key aspects of the IP Law, including the establishment and enforcement of industrial property rights, IP representation, measures to promote IP activities, IP-related export and import control; IP assessment, and state management of intellectual property. The new decree generally consolidates provisions of the two previous decrees without many changes. The highlight of the new decree is some new provisions on controlling security for patents and secret patents (Article 14); Hague applications for industrial designs (Articles 22, 23, 24) and cancellation/invalidation of Hague registrations for industrial designs (Article 32.5); and compensation for patent owners (Article 43). The new decree is currently being reviewed by the drafting agency before submission for appraisal and validation, and is expected to be ratified

On September 21, 2022, the Electronic Transactions Development Agency (ETDA) held another public hearing on the draft Royal Decree on Digital Platforms and its sub-regulations. This updated draft Royal Decree on Digital Platforms (which is subsequent to a previous round of updates last year) is anticipated to be the final draft before it is proposed to the king for endorsement. Thereafter, it will be published in the Government Gazette and will become effective 240 days after the publication date. The key issues under the latest draft royal decree are as follows: Exemption for certain regulated businesses. The current draft royal decree exempts business operators that are regulated by the Bank of Thailand or the Securities and Exchange Commission, as well as digital platforms operated by government agencies for noncommercial purposes, from the application of the royal decree. Nevertheless, these business operators must ensure that their digital platform has transparency, fairness, and standards which are not less than those required under the Royal Decree. Definition of digital platform. According to the public hearing, the definition of a digital platform has been amended to exclude digital platforms that are used to offer the goods or services of a digital platform provider or its affiliate acting on its behalf, regardless of whether the offering of such goods or services is made to a third party or the affiliate. Appointment of a local contact. Instead of appointing a local representative with no limit of liability, the current draft royal decree only requires offshore digital platform providers to appoint a local contact to coordinate with the ETDA. The local contact must not operate any business in Thailand under the Foreign Business Act. Notification of the ETDA. Digital platforms as defined under the royal decree must notify the ETDA of certain information—such as the name of the business operator and its

2022年6月16日、ベトナム国会は、2023年1月1日に発効するベトナムの知的財産法の改正案を承認した（ただし、2022年1月14日に遡及適用された音商標に関する規定、2024年1月14日に施行される農薬の試験データ保護に関する規定は除く）。 改正知的財産法が一貫して効率的に施行されるために、政府は改正知的財産法の施行をガイドする政令（以下、「新政令」という。）の公布に積極的に取り組んでいる。新政令は、承認された後、2006年に従前の2005年知的財産法の下位法令として発行された政令No.103/2006/ND-CPおよび政令No.105/2006/ND-CPと置き換えられ、2023年1月1日に発効する。 改正知的財産法の施行に伴い、改正知的財産法に準拠した法律の公布が急務であることから、政府は簡易な手続で新政令を制定・公布する。 政令をドラフトした機関は2022年10月10日、関係者の意見を求めるために新政令のドラフト案を回付した。新政令は、知的財産権の確立と執行、知的財産権の代理、知的財産活動の促進のための措置、知的財産関連の輸出入管理など、知的財産の評価、知的財産の国家管理などの、知的財産法の主要な側面に対する包括的なガイダンスと見られている。 新政令は、一般的に、多くの変更なしに従前の2つの政令の規定を統合している。新政令の重要点は、特許および秘密特許のセキュリティ管理（第14条）と、ハーグ協定に基づく意匠出願（第22条、第23条、第24条）と、ハーグ協定に基づく意匠登録の取消・無効（第32.5条）と、特許権者に対する補償金（第43条）とに関するいくつかの新しい規定である。 新政令は現在、評価・検証のために提出される前段階としてレビューされている段階であり、2022年末までに承認される予定である。   備考：本和文は英文記事を翻訳したものです。原文については、以下のリンクをご参照ください。Decree to Implement Vietnam’s Amended IP Law to Be Issued by Year-End