NLA reviews draft laws to tighten regulations on security firms
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The National Legislative Assembly will on Thursday resume its deliberations on the draft organic laws for the Security Business Act.
The laws would establish uniform standards, rules and regulations to keep the rapidly growing security business in line with the government’s policy on safety for individuals, businesses and assets.
The bills define a “security business” |as one providing security personnel to |safeguard individuals and personal assets, but exclude security services for state |agencies.
“Security personnel” is defined as those licensed to provide security service.
A committee chaired by the National Police chief will be formed to oversee the security business and set policies, work plans, rules, regulations and standards for the security business.
A four-year operating permit must be obtained for a registered company prior to engaging in the provision of security services. Thai citizens must own at least 50 per cent of the company and over half of its directors must be Thai citizens.
Registered security firms must comply with the rules, regulations and standards established by the state’s committee on security business and cooperate with police when necessary.
Security personnel must hold a permit |and have no prior criminal record with a jail term.
Failure to comply with the specified rules and regulations would be penalised by one year, or more, in jail and a fine of Bt20,000-Bt100,000, depending on the nature of the violation-The Nation
Algeria boosts oil output
Opec member Algeria has increased crude oil output by 32,000 barrels per day after starting production at two fields, an energy ministry official said on Sunday.
Production increased last Saturday when the Bir Sebaa field started producing 20,000 bpd in addition to 12,000 bpd from the Bir Msana field in Hassi Messaoud area, the official said.
Sonatrach holds 25 per cent stake, Thailand’s PTTEP 35 per cent and Petrovietnam 40 per cent in the Bir Sebaa field, where reserves are estimated at 758 million barrels.
Sonatrach owns a 25 per cent stake, Malaysia’s Petronas holds 35 per cent |and Spain’s Cepsa 40 per cent in the Bir Msana field, whose reserves are at 144 million barrels.
Algeria produced an average 1.1 million bpd in July, according to a Reuters survey.
It has struggled to draw foreign oil investment to increase output that has stagnated over the past years, awarding only 4 out of 31 blocks on offer in a bidding round in September 2014.
State energy firm Sonatrach has said it would stick to a plan to invest $90 billion over the next five years despite a crude oil price slump on global markets. – Reuters
