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 CPB was set up with a 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 on the grounds of the Grand Palace in Bangkok.