Thai King given full control of royal wealth
A new law giving Thailand's King direct control over royal assets worth billions of US dollars went into force on July 17.
Thai King Maha Vajiralongkorn (centre) at the ceremony issuing the 2017 Constitution (Photo: EPA/VNA)Bangkok (VNA) - A
new law giving Thailand's King direct control over royal assets worth billions
of US dollars went into force on July 17.
The law was approved by the Thai National Legislative Assembly last week and published on the Royal Gazette on July 16.
The main change gives King Maha Vajiralongkorn power to appoint all members of the committee that oversees the Crown Property Bureau (CPB).
Under the previous law, the committee's chairman was the finance minister, a move meant to ensure some semblance of government oversight. It is the first time that law has been changed in 69 years.
King Maha Vajiralongkorn inherited one of the world's great fortunes when he ascended the throne in October 2016 following the death of his father Bhumibol Adulyadej.
Since King Bhumibol Adulyadej's death, a series of legal changes have been made. Among these was a provision allowing the king to travel overseas without appointing a regent in his stead, and an end to the need for all royal decrees to be countersigned by a government official.
King Maha Vajiralongkorn also took direct control of five state agencies overseeing royal affairs and palace security that were previously under government or military control.-VNA
The law was approved by the Thai National Legislative Assembly last week and published on the Royal Gazette on July 16.
The main change gives King Maha Vajiralongkorn power to appoint all members of the committee that oversees the Crown Property Bureau (CPB).
Under the previous law, the committee's chairman was the finance minister, a move meant to ensure some semblance of government oversight. It is the first time that law has been changed in 69 years.
King Maha Vajiralongkorn inherited one of the world's great fortunes when he ascended the throne in October 2016 following the death of his father Bhumibol Adulyadej.
Since King Bhumibol Adulyadej's death, a series of legal changes have been made. Among these was a provision allowing the king to travel overseas without appointing a regent in his stead, and an end to the need for all royal decrees to be countersigned by a government official.
King Maha Vajiralongkorn also took direct control of five state agencies overseeing royal affairs and palace security that were previously under government or military control.-VNA
You should also see
China’s fishing ban in East Sea violates Vietnam’s sovereignty: spokesperson
Foreign Ministry spokesperson Pham Thu Hang on April 25 said Vietnam’s consistent stance on China’s fishing ban in the East Sea, which has been affirmed clearly over the past years.
See more
ASEAN
ASEAN Future Forum 2024 enters first session
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
ASEAN
Canada, ASEAN consolidate climate change response, economic cooperation
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN
ASEAN youth empowered to unleash potential: ASEAN chief
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
World
Thailand urged to increase proportion of renewable power generation
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
World
Indonesia lifts tsunami alert given after Ruang volcano’s eruption
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
