Section Code: 1229 - 1237

Thai Civil and Commercial Code

SPECIFIC CONTRACTS
TITLE XXII
PARTNERSHIPS AND COMPANIES
CHAPTER IV
LIMITED COMPANIES

Part 7: Debentures

Section 1229. Debentures may not be issued.

Secion 1230 to 1235 (Repealed)

 

Part 8: Dissolution

Section 1236. Dissolution of Limited Company

A limited company is dissolved:

  1. In the case, if any, provided by its regulations.
  2. If formed for a period of time, by the expiration of such period.
  3. If formed for a single undertaking, by the termination of such undertaking.
  4. By a special resolution to dissolve.
  5. By the company becoming bankrupt

Section 1237. Court Dissolution of Limited Company

A limited company may also be dissolved by the Court on the following grounds:

  1. If default is made in filing the statutory report or in holding the statutory meeting.
  2. If the company does not commence business within a year from the date of registration or suspends its business for a whole year.
  3. If the business of the company can only be carried on at a loss and there is no prospect of its fortunes, being retrieved.
  4. If the number of the shareholders is reduced to less than seven.

However, in the case of default in filing the statutory report or in holding the statutory meeting, the Court may, instead of dissolving the company, direct that the statutory report be filed or the statutory meeting be held as it may think fit.

« »