Wednesday, 20 September 2017
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Credit Union League of Thailand asks NLA to amend Cooperatives Act BE 2542

Date: 13 September 2017; Type: Legal News; Source: National News Bureau of Thailand

BANGKOK, 12th September 2017 (NNT) - The National Legislative Assembly has been asked to amend the country’s law governing cooperatives in order to help strengthen members.

First Vice President of the NLA Surachai Liengboonlertchai on Tuesday received a petition from General Manager of Credit Union League of Thailand Limited, Mr. Suphap Chanpirom, which asked the legislature to support and push for the amendment of the Cooperatives Act B.E. 2542.

Mr. Suphap said that a change in this law is needed because CULT has set up a fund to help share financial responsibilities of members of any cooperatives, who pass away or become disabled and unable to settle their debt, but the Council of State had rejected such a move due to the absence of a legal backup.

He said that an amendment of the Cooperatives Act would help all cooperatives operate more efficiently while all members will have better quality of life, which will also benefit the economy and society.

Mr. Surachai said that he will present the issue to the committee on agriculture and cooperatives to consider any appropriate action.

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