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General news >> Friday July 18, 2008
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EC sets up inquiries into shares

MONGKOL BANGPRAPA

The Election Commission has set up two sub-committees to investigate the shareholdings of MPs and senators in media firms and state concessionaires that might be unconstitutional.

The decision came after Supachai Jaisamut, deputy spokesman of the People Power party (PPP), petitioned the poll agency to look into the matter.

Secretary-general Suthiphon Thaveechaiygarn said the third paragraph of Article 91 of the constitution says if the EC considers there are grounds for revoking the parliamentary membership of MPs or senators, the poll agency is required to send the case to the House speaker or Senate speaker. They then forward the case to the Constitution Court for a decision.

One panel will handle the cases involving senators and the other will dig up information about the MPs.

''As I understand it, if MPs and senators have their membership terminated in such cases, they retain their political rights, as in the case of former public health minister Chaiya Sasomsab,'' Mr Suthiphon said.

Two inquiry panels were needed, he said. The investigation involved more than 100 MPs and senators and many documents.

Democrat secretary-general Suthep Thaugsuban is one of the MPs found to hold shares in True Corporation.

He said it was necesary to take into account the spirit of the constitution, which aimed to ensure MPs and senators did not have control of those firms or concessionaires and their shareholdings did not influence the decision-making of those companies.

''I hold 50,000 shares in True Corporation and I declared them to the National Counter Corruption Commission. I bought them at 10 baht each before I became an MP. When the price dropped to two or three baht I still didn't want to sell them. I've very few and it could not affect any decisions,'' he said.

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