We would like to make you aware of an important new anti-bribery law.
According to Section 123/5 of the new Organic Law Concerning the Prevention and Suppression of Corruption (No. 3) B.E. 2558 (2015), which has just came into force on 10 July 2015, every private company has to control its employees, agents, affiliates or any persons who acts for or on behalf of the company to not commit any act which would constitute the offense of bribery. If not, the company shall be punished with a fine of one time, but not more than two times the damages incurred or benefits received.
“Section 123/5 Whoever gives, offers or agrees to give a property or any other benefit to any government official, official of a foreign government or official of an international organization in order to induce such person to do or omit to do or delay any act in violation of his lawful duty shall be punished with imprisonment not exceeding five years or a fine not exceeding 100,000 Baht, or both.
In case the person who committed the offense in paragraph one is a person who has a relationship with a juristic person and such act was done for the benefit of such juristic person and such juristic person does not have a proper internal control to prevent the offense, such juristic person will be subject to liability under this Section and shall be punished with a fine of one time, but not more than two times the damages incurred or benefits received.
The person who has a relationship with the juristic person in the second paragraph shall mean an employee, agent, affiliated company, or any person who acts for or in the name of the juristic person regardless of whether he has an authority or duty to act as such.”
Written by Paul Connelly & Anong Seehapan