Page 76 - Introduction to Investment Laws in Thailand

shall produce evidence that he is an alien stipulated in Section
19 to the competent authority within one hundred and eighty days
from the date of loss of Thai nationality. However, if the
ownership in apartment of the said alien exceeding the ration
prescribed in the first paragraph of Section 19 bis, or not being
in accordance with second paragraph of the third paragraph of
Section 19 bis, he shall dispose of the apartment that exceeds the
ratio within one year from the date of loss of Thai nationality. If
he does not dispose of the said apartment within the said period
of time, the provisions of the fourth paragraph of Section 19
quinque shall apply mutatis mutandis. supplied by

If the alien under the first paragraph does not wish to
continue to hold ownership of apartment, he shall notify in
writing the Competent Official of the loss of Thai nationality
within a period of sixty days from the date of loss of Thai
nationality, and shall dispose of all apartments owned by him
within a period of not exceeding one year from the date of loss of
Thai nationality. If disposition is not made within the said period,
the provisions of the fourth paragraph of Section 19 quinque
shall apply mutatis mtandis.

Section 19/10 (decem) A juristic person which had Thai
nationality and holds ownership of apartment, and subsequently
the nature of such juristic person changes to become that
regarded by law as an alien and is not a juristic person specified
in Section 19, shall notify in writing the Competent Official of
change of its nature and the inability to continue to hold
ownership of apartment within a period of sixty days from the
date of such change and shall dispose of all the apartments
owned by it within a period of not exceeding one year from the
date of such change. If disposition is not made within the said
period, the provisions of the fourth paragraph of Section 19
quinque shall apply mutatis mutandis.

Section 19/11 (undecim) For jutistic persons which is of
Thai nationality and holds ownership of apartment, and

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