|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Society (Click here for more)

New Law Gives Thai King Sole Control over Assets Worth Billions

BANGKOK – The Thai parliament gave King Vajiralongkorn sole control over multi-billion dollars worth crown assets, in a latest move by the monarch to expand his influence eight months after ascending the throne.

The country’s rubber stamp parliament, handpicked by the military junta ruling the country since 2014, approved on Sunday the first amendment to the law, first since 1948, governing the Crown Property Bureau, which manages the royal family’s properties and investments.

According to the amendment, only the king will be able to appoint or remove members of the board of directors of the bureau and none of his assets can be taken away without his consent.

Until now, the country’s finance minister was the chair of the board that managed the monarchy’s assets, valued by Forbes at approximately $30 billion.

The amendment follows another measure, approved in May, which allowed the king to take control of five state agencies that until then were controlled by the Prime Minister’s Office, the Defense Ministry and the police.

These reforms come after the new king requested changes to the draft constitution, backed by the military junta, that will give him more powers before the royal sign-off.

Vajiralongkorn was proclaimed king of Thailand on Dec. 1, 2016 after the death of his father, Bhumibol Adulyadej, on Oct. 13 of that year, but he will not be crowned until the late king’s cremation ceremony on Oct. 26, 2017.

The new king has lived most of his life abroad and does not enjoy the same popularity among the Thai people as his father.

The wealth of the Thai crown is rarely discussed or debated in the country owing to the strict lèse-majesté law that prohibits any criticism of the royal family.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2015 © All rights reserved