| Section
1 |
This Act shall be called "The Condominium Act (No.3)
B.E. 2542" |
| Section
2 |
This Act shall come into force as from the day following
the date of its publication in the Government Gazette. |
| Section
3 |
The Provision of Section 19(5) of the Condominium Act
B.E. 2533 amened by the Condominium Act (No.2) B.E. 2534
shall be repealed and replaced by the following provisions:
"(5) Aliens or juristic persons deemed by Thai law
to be aliens, who have brought into the Kingdom foreign
exchange or withdrawn the money from the non-resident
Baht account or withdrawn the money from the foreign currency
deposit account." |
| Section 4 |
The Provision of Section 19 bis of the Condominium Act
B.E. 2533 amened by the Condominium Act (No.2) B.E. 2534
shall be repealed and replaced by the following provisions:
"Section 19 bis In each condominium, aliens of juristic
person stated in Section 19 may have ownership in a condominium
unit, when added together, must not exceed forty nine
percent of the total space of all units in that condominium
at the time of applying for the condominium to be registered
under Section 6. Any condominiums whereby an aliens of
juristic person under Section 19 holding the ownership
in condominium units in a proportion exceeding as allowed
by paragraph one, such condominium shall be situated in
the area of Bangkok Metropolis, municipal area or local
public administrative area specified in the Mnisterial
Regulation; and the land, where the condominium is situated
including the land alloted for common use, shall not exceed
5 rai. The acquisition of ownership under paragraph two
of the alien or juristic person under Section 19 shall
be in compliance with the rules, procedures and cinditions
provided in the Ministerial Regulation." |
| Section 5 |
The provision of Section 19 tri (5) of the Condominium
Act B.E. 2522 amened by the Condominium Act (No.2) B.E.
2534 shall be repealed and replaced by the following provisions:
"(5) Aliens and juristic persons under Section 19
(5) shall present the evidence of bringing foreign exchange
into the Kingdom of the evidence of withdrawning money
from the non-resident Baht account or withdrawing from
the foreign currency deposit account to the amount not
less than the price of the condominium units intended
to buy." |
| Section 6 |
The provision of Section 19 quarter of the Condominium
Act B.E. 2522 amended by the Condominium Act (No.2) B.E.
2534 shall be repealed and replaced by the following provisions:
"Section 19 quarter The competent official shall
recieve the documents and evidences submitted according
to Section 19 tri and verify accordingly. If it is found
that they are correct subject to the provisions of Section
19 tri and that the proportion of ownership in condominium
units held by aliens or juristic persons under Section
19, who is already had ownership in condominium unit or
that applying for recieving the transfer of the ownership
of the condominium units, not exceeding the proportion
as allowed by Section 19 bis paragraph two and three,
the competent official shall proceed with the registration
of rights and juristic act concerning the condominium
unit in accordance with Chapter 4 in favor of the alien
and juristic person who is a transferee." |
| Section 7 |
The provision of Section 19 quinque (1) of the Condominium
Act B.E. 2522 amended by the Condominium Act (No.2) B.E.
2534 shall be repealed and replaced by the following provisions:
"(1) Aliens or juristic persons under Section 19
obtaining the condominium unit devolved upon him by statutory
right or by will or by other means as the case may be,
when added to the condominium units, in that condominium,
having been already held by aliens and/or juristic persons
under Section 19 exceeding the proportion as specified
in Section 19 bis paragraph one or not complying with
the rules under Section 19 bis paragraph two and paragraph
three." |
| Section 8 |
The provision of Section 19 novem paragraph one of the
Condominium Act B.E. 2522 amended by the COndominium Act
(No.2) B.E. 2534 shall be repealed and replaced by the
following provision: "Section 19 novem Any person
who obtains an ownership in a condominium unit whist enjoying
the Thai nationality and sebsequently loses it because
of relinquishment, change or annulment of the Thai nationality,
in accordance with the nationality laws and consequently
becomes an alien under Section 19 and if he wishes to
continue to hold the ownership in the condominium unit,
he shall have to notify in writing to the competent official
of the loss of his Thai nationality. He must also present
the evidence proving that he is an alien under Section
19, to the competent official within one hundred and eighty
days from the date of the loss of his nationality. However,
if the ownership in condominium unit of that person exceeding
the proportion as allowed by Section 19 bis paragraph
one or not complying with the rules, under Section 19
bis paragraph two and paragraph three, such person shall
dispose of the excess unit(s), which is not under the
aforesaid rules, within one year from the date of the
loss of his Thai nationality. If he failed to dispose
of within the said time, the provisions of Section 19
quinque, paragraph four shall apply mutatis mutantis. |
| Section 9 |
On the completion of 5 years as from the date of this
Act comes into force, the provisions of Section 19 bis,
paragraph two of the Condominium Act B.E. 2522 which amended
by this Act shall be repealed. After the 5 years period
comes to an end as from the date of this Act comes into
force under paragraph one, aliens and juristic persons
obtaining the condominium unit by virtue of Section 19
bis, paragraph two or aliens and juristic persons recieving
the ownership transferred from the formers may continue
holding the condominium units, even the holding exceeding
the proportion prescribed in Section 19 bis, paragraph
one. |
| Section 10 |
The Minister of Ministry of Interior shall have charge
and control of the execution of this Act |
