Page 49 - Introduction to Investment Laws in Thailand

both and the Court shall order a stoppage of the aiding or
abetting or order a stoppage of the joint business
operation or order a stoppage of shareholding or a
cessation of the partnership as the case may be. Violators
of the Court's order shall be subject to a punishment with
a fine of 10,000 Baht to 50,000 Baht per day throughout
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the period of violation.
- Any foreigner who operates a business in violation of
Section 6, Section 7, and Section 8 shall be punishable
with an imprisonment of not exceeding three years or a
fine from 100,000 Baht to 1,000,000 Baht or both. The
Court shall order a stoppage of the business operation or
the dissolution of the business or order a cessation of the
shareholding or partnership as the case may be. Violator
of the Court's order shall be subject to punishment with
a fine of 10,000 Baht to 50,000 Baht per day throughout
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the period of violation

2.4 Forms of Business Investment
The set rules of establishing the forms on business are promulgated in the
Thai Civil and Commercial Code. The code set forth the forms of business
which of;

1) Partnerships
2) Limited Companies

Partnerships are established by the contract for the organization of a
partnership whereby two or more persons agree to unite for a common
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undertaking with a view of sharing profit. The partnership are classified
into ordinary partnerships and limited partnerships. The ordinary
partnership is that kind of partnership in which all the partners are jointly

48 The Foreign Business Act, B.E. 2542(1999) section 36
49 The Foreign Business Act, B.E. 2542(1999) section 37
50 Thai Civil and Commercial Code Section 1012

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