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  The Thai government designated the year 2002 as a year of good corporate governance. In this connection, the cabinet has set up the National Corporate Governance Committee (NCGC) to set out policies, measures, and scheme to upgrade the level of corporate governance in Thai business. The NCGC consists of the following members :  
 
   
 
 
 
 

Chairman:
Prime Minister or the assigned Deputy Prime Minister
Committee members:
Deputy Prime Minister in charge of economic affairs, Minister of Finance, Minister of Commerce, Permanent-Secretary of Minister of Finance, Permanent-Secretary of Minister of Commerce, Secretary-general of the Council of State, Governor of Bank of Thailand, Secretary-General of the Securities and Exchange Commission, President of Stock Exchange of Thailand, President of Thai Chamber of Commerce, President of the Federation of Thai Industries, President of Thai Bankers' Association, President of the Federation of Accounting Professions, Chairperson of Listed Companies Association, Chairperson of the Association of Securities Companies, Chairperson of the Association of Investment Management Companies President of the Thai Investors' Association,President of the Thai Institute of Directors' Association, Chairperson of the Federation of Capital Market Organizations, three experts
Committee member and secretary:
Assistant Secretary-General of the Securities and Exchange Commission

 
   
 
 
 
  Responsibilities
Establish policies, measures, and schemes to upgrade the level of corporate governance among institutions, associations, corporations and government agencies in the capital market.
Order the related agencies and persons, both in the private and government sectors to testify any information to the NCGC.
Suggest related agencies to improve their policy schemes and operating processes including legal reforms, ministerial regulations, rules and enactment to achieve good corporate governance.
Promote the guidelines of good corporate governance to the public and related parties to raise confidence from international investors.
Appoint subcommittees and working groups to study and assist any operations by using their authority. These group members compose of representatives from various private and public agencies. The subcommittee has to report their operating results to the NCGC within the specified period.
Monitor the progress and evaluate the performance of subcommittee.
 
         
To implement good governance quickly, prudently and efficiently, the NGCG has appointed four subcommittees. Each subcommittee consists of the following subcommittee members and their responsibilities are noted below:
 
Subcommittee on Best Practices of Listed Companies
  Members of the subcommittee
Mr. Ajva Taulananda
Chairman
A representative from the Thai Listed Companies Association
Subcommittee member
A representative from Thai Chamber of Commerce
Subcommittee member
A representative from the Federation of Thai Industries
Subcommittee member
A representative from the Thai Investors' Association
Subcommittee member
A representative from the Securities and Exchange Commission
Subcommittee member
Executive Vice President, Corporate Compliance and Governance Division, the Stock Exchange of Thailand
Subcommittee member and secretary
Senior Vice President, Market Regulations Division, the Stock Exchange of Thailand
Subcommittee member and assistant secretary
  Responsibilities
Review the appropriateness of the code of best practices among listed companies and propose additional guidelines to raise the standard of corporate governance within the proper period of time.
Encourage participation within the private sector to determine a code of best practices and motivate listed companies to strictly adopt them.
 
Subcommittee on Improvement of Corporate Governance of Commercial Banks, Finance Companies, and Insurance Companies
  Members of the subcommittee
Governor, Bank of Thailand
Chairman
President of Thai Bankers' Association
Subcommittee member
Director-General of Department of Insurance
Subcommittee member
Mr. Surachai Sirivallop
Subcommittee member
Assistant Governor, Financial Institution Policy Group, Bank of Thailand
Subcommittee member and secretary
  Responsibilities
Set the principles for raising the standards of corporate governance of commercial banks, finance companies and insurance companies.
Specify guidelines that encourage implementing corporate governance in other businesses related to commercial banks, finance companies and insurance companies, particularly customers and companies in which they invest.
   
 
Subcommittee on Improvement of Corporate Governance:
Securities Companies and Derivative Business Operators
  Members of the subcommittee
Secretary -General of the Office of the Securities and Exchange Commission (SEC)
Chairman
A representative from the Stock Exchange of Thailand
Subcommittee member
A representative from Association of Securities Companies
Subcommittee member
A representative from Association of Investment Management Companies
Subcommittee member
A representative from the Thai Investors' Association
Subcommittee member
A representative from the Government Pension Fund
Subcommittee member
Assistant Secretary -General of the Office of the Securities and Exchange Commission (SEC)
Subcommittee member and secretary
  Responsibilities
Set principles for raising the standards of corporate governance for securities, investment management companies, and derivative business operators.

Specify guidelines that promote implementing corporate governance in other businesses related to securities and investment management companies or derivative business operators, particularly customers, companies, funds, and securities companies in which they invest.

 

Subcommittee on Investors Education and Public Relations and on Corporate Governance in Thailand.
  Members of the subcommittee
Chairman of the Stock Exchange of Thailand
Chairman
President of the Stock Exchange of Thailand
Subcommittee member
Secretary-General of the Public Sector Development Commission
Subcommittee member
Assistant Secretary-General of the Securities and Exchange Commission in charge of corporate governance affairs
Subcommittee member
Mr. Krairit Boonyakiati
Subcommittee member
Mr. Charnchai Charuvastr
Subcommittee member
Prof. Anya Khanthavit
Subcommittee member
Ms. Chutharat Thanapaisarnkit
Subcommittee member
Executive Vice President, Corporate Compliance and Governance Division, the Stock Exchange of Thailand
Subcommittee member and secretary
Senior Vice President, Market Regulations Division, the Stock Exchange of Thailand
Subcommittee member and assistant secretary
  Responsibilities
Conduct a promotion plan to build understanding and provide knowledge to related parties, both a short-term and long-term plan.
Establish a stringent promotion plan to raises the standards of corporate governance in Thailand.
Set guidelines to monitor and evaluate a promotion plan.
Set guidelines to monitor and evaluate a promotion plan.
 
 
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