Background
The Crown Property Bureau was established under the Royal Assets Structuring Act of 1936 and became a juristic person in 1948. According to the Act, a Crown Property Board was set up, to be chaired ex officio by the Finance Minister, and served by at least four royally-appointed directors. His Majesty the King would also name one of the board members the director-general of the Crown Property Bureau. The Board of Crown Property is responsible for the overall supervision of the activities of the Crown Property Bureau. Duties and responsibilities of the director-general are prescribed by the Board of Crown Property.
Initially, the Crown Property Bureau was under the jurisdiction of the Royal Treasury of the Royal Household Bureau. On 21 April 1935, the 1934 act to exempt royal assets from taxation took effect. The act categorized the royal assets into two types:
- Assets eligible for tax exemption
- Assets eligible for tax payment
On 19 July 1937, the Royal Assets Structuring Act of 1936 became effective. It separated the royal assets into “His Majesty’s personal assets”, “crown property” and “public property”. “His Majesty’s personal assets” would be managed by the Finance Ministry. The Crown Property Bureau was set up with the status equivalent to a division under the Treasury Department of the Finance Ministry. Some of the functions, responsibilities and officials were transferred from the Office of the Privy Purse to the Crown Property Bureau which sought permission to locate its office on the premises of the Office of the Privy Purse in the grounds of the Grand Palace.
The Royal Assets Structuring Act has been amended twice: the second amendment (1941) was promulgated on 7 October 1941 and the third amendment (1948) was promulgated on 18 February 1948. The Crown Property Bureau’s status was then elevated to a juristic person responsible for supervising, preserving and managing the crown property. The director-general of the Crown Property Bureau is authorized to affix his signature on behalf of the Crown Property Bureau. The Crown Property Bureau has moved its office four times. The Ladawan Palace, commonly referred to as the “Red Palace” has been home to the Crown Property Bureau since 18 July 1946. Every 18th day of February is regarded as the anniversary of the Crown Property Bureau’s establishment.
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