Thailand: Adopted Trade Competition Act (B.E. 2560) including merger control regulation

On 24 March 2017, the Trade Competition Bill was adopted by the National Legislative Assembly. The Bill replaces the previous Trade Competition Act (B.E. 2542) and introduces exemptions for central, regional, or local administrations, state-owned enterprises, public organisations, farmer groups, cooperatives, and businesses regulated under other sectoral laws. The Bill states that business mergers that significantly reduce competition must be reported to the Commission, and those causing monopolies require prior permission. Damaged parties can file lawsuits for compensation within one year of knowing the cause of the damage. Violations of the Act can result in criminal and administrative penalties, including imprisonment and fines.