The Royal Assets Structuring Act has been amended three times: the second amendment (1941) took effect on 7 October 1941, the third amendment (1948) was promulgated on 18 February 1948 when the CPB's status was then elevated to a juristic person responsible for supervising, preserving, and managing crown property. The CPB director-general is authorized to affix his signature on behalf of the bureau. In July 2017, under the new bill, King Vajiralongkorn will set up a board of directors to oversee his assets. The king is entitled to appoint the board members, as well as to remove them, at his discretion. The law prohibits the taking away of royal assets without the king's approval. Under King Bhumibol, the board of directors for the royal assets answered to the finance minister. Now it is independent of the government.