Directors’ Duties in Thailand

>> Protecting Yourself in Thailand

  • exercise care and independent judgement. Act reasonably, with integrity and common-sense.  Challenge things when you are uncomfortable and raise concerns promptly. Seek help and work as a team with your colleagues and the company’s functional specialists to get help and support where needed to find appropriate solutions
  • monitor the financial situation of the company continuously, whether or not you are the finance director. Ensure the right level and regularity of financial information is available and take time to review it and ask questions
  • if you become concerned the that company is in, or may face, financial difficulties, take steps to minimise losses and alert the issue immediately so that appropriate and timely advice can be provided. Do not simply keep quiet and hope for the best
  • regularly consider, at board meetings, items of key importance to your entity e.g. HS&E, export controls, employee issues, compliance and ethics considerations and key contracts.  Maintain minutes of directors’ meetings
  • keep in mind the requirements of your employment contract and powers granted under the company’s constitution – do not exceed your powers
  • never sign a contract or licence without understanding what you are signing, being comfortable that you are authorised to sign it

Latest version updated 10th April 2018

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