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The Securities and Exchange Commission of Thailand (SEC) has amended and issued regulations (17 in total) to provide clarity regarding the nature of businesses that may be considered investment companies. The amended regulations also impose disclosure obligations, where an investment company is also a listed company, and prohibit any investment companies from offering securities, except in limited circumstances. These regulations became effective on 1 January 2024.

Thailand is taking the next step towards strengthening the legal framework on air quality control as the Cabinet approved in principle the Draft Management for Clean Air Act (“Clean Air Bill”), which was proposed by the Ministry of Natural Resources and the Environment (MONRE) on 28 November 2023. Thailand’s current legal framework to manage air quality can be seen in many existing laws that regulate the monitoring and treatment of air pollution, and specify air quality standards. There are many governmental agencies acting as regulators for the purpose of air quality control, including the MONRE, the Ministry of Industry, and the Ministry of Public Health.

With increasing awareness of carbon capture and storage (CCS) technology as a key enabler for decarbonization, many developments in this area, such as exploration for carbon storage sites, have been reported. However, presently, in Thailand, there is no legislation specifically governing such CCS-related activities. In this context, the Department of Mineral Fuels has been developing a legal framework to accommodate CCS-related activities as can be seen from the recent public hearing of the draft amendment to the Petroleum Act, B.E. 2514 (1971) (“Draft Petroleum Act”), which aims to introduce the concept of “carbon business” as another regulated activity in a similar manner to conventional petroleum concessions.

The Carbon Border Adjustment Mechanism (CBAM) is one of the legislative measures under the “Fit for 55” package in the EU’s European Green Deal. The CBAM is a measure designed to complement the EU’s Emissions Trading System, targeting imports of carbon-intensive products, including Thai exporters.

On 27 October 2023, Thailand’s Personal Data Protection Committee published for public consultation two new draft rules regarding cross-border transfer of personal data. These two draft rules, namely: (1) Draft Whitelist Notification and (2) Draft Binding Corporate Rules and Appropriate Safeguards Notification, upon becoming effective as binding laws, will serve to expand the available options for making a lawful transfer of personal data outside Thailand in compliance with the Personal Data Protection Act B.E. 2562.

In this final part of the series, we will look at the Draft Waste Electrical and Electronic Equipment Management Act. The development of a legal framework for the management of waste from electrical and electronic equipment (WEEE) has been discussed and studied in Thailand for almost two decades. However, despite existing general environment-related laws, such as the NEQA, the Hazardous Substance Act, B.E. 2535 (1992), and the Factory Act, B.E. 2535 (1992), there is currently no specific Thai law governing WEEE management in a systematic and sustainable way.

Artificial Intelligence is a leading technology that is advancing rapidly. Many industries are anticipated to benefit from AI assistance, which may also affect human workforce in certain industries in the near future. Currently, two draft legislations have been introduced in Thailand: (i) The Draft Royal Decree on Business Operations that Use Artificial Intelligence System; and (ii) The Draft Act on the Promotion and Support of AI Innovations in Thailand.

The Notification of the Personal Data Protection Committee re: Designation of a Data Protection Officer under Section 41 (2) of the Personal Data Protection Act B.E. 2562 (2019) B.E. 2566 (2023) (“PDPC Notification re: DPO Designation”) has been published in the Government Gazette on 14 September 2023. This notification will be effective from 13 December 2023. While most of the requirements under the PDPC Notification re: DPO Designation remain unchanged from its draft version, the published version specifies a minimum number of data subjects that would trigger the large-scale criteria and the data controller’s obligation to designate a data protection officer.

Biodiversity is included as Goals 14 and 15 of the Sustainable Development Goals, and its growing significance was emphasized during the special COP on biodiversity, COP15. Many jurisdictions, such as Australia, Japan and the EU, have adopted biodiversity laws to respond to the growing threat of species extinction, habitat loss and ecosystem loss. Thailand has also been working on the same subject, as was included in the most recent Prime Minister’s Statement on National Strategy, and the Ministry of Natural Resource and the Environment has been working on the draft Biodiversity Bill.