Law on the Amendment of the Law on Commercial Rules and Register was promulgated on 29 January 2022 through the Royal Kram No. NS/RKM/0122/002 (the “Amendment on the LCRR”).
This is the second amendment after the Law on Commercial Enterprises 1995 (the “Law”) was first amended on 18 November 1999.
A total of 5 (five) articles were amended under the Amendment on the LCRR. These articles include article 11 (new), article 14 (new), article 17 (new), article 26 (new), and article 47.
The Amendment on the LCRR also modifies three other articles:
In conclusion, the Amendment on the LCRR is made with respect to the changes of the business environment as well as the changes in the related law and regulations.