Legal Services & Resources
Up to date legal information pertaining to Thai, American, & International Law.
Contact us: +66 2-266 3698
Title XXII Chapter IV Limited Companies Part III Management of Limited Companies 4. Balance-Sheet
Page: 157
Section: 1194 - 1199
Section 1194.- A resolution is deemed to be a special resolution if passed by two successive general meetings in the following way :
The substance of the proposed resolution has been included in the notice for summoning the first general meeting.
The resolution has been passed in the first meeting by a majority of not less than three-fourths of the votes.
The subsequent general meeting has been summoned and has been held not less than fourteen days and not more than six weeks after the former meeting.
The full text of the resolution passed in the first meeting has been included in the notice summoning the second meeting.
The resolution passed in the former meeting has been confirmed in the subsequent meeting by a majority of not less than two-thirds of the votes.
Section 1195.- If a general meeting has been summoned or held or a resolution passed contrary to the provisions of this Title or contrary to the regulations of the company, the Court shall, on application of any director or shareholder, cancel any such resolution or any resolutions passed at such irregular general meeting, provided that the application is entered within one month after the date of the resolution.
4. BALANCE-SHEET
Section 1196.- A balance-sheet must be made at least once in every twelve months, at the end of such twelve months as constitute the financial year of the company.
It must contain a summary of the assets and liabilities of the company and a profit and loss account.
Section 1197.- The balance-sheet must be examined by one or more auditor and submitted for adoption to a general meeting within four months after its date.
A copy of it must be sent to every person entered in the register of shareholders at least three days before the general meeting.
Copies must also be kept open at the offices of the company during the same period for inspection by the holders of certificates to bearer.
Section 1198.- On submitting the balance-sheet, the directors must lay before the general meeting a report showing how the business of the company was conducted during the year under review.
Section 1199.- Any person is entitled to obtain from any company a copy of its latest balance-sheet on payment of a sum not exceeding twenty baht.
It shall be the duty of the directors to send to the Registrar a copy of every balance-sheet not later than one month after it has been adopted by the general meeting.