BANGKOK- THAILAND'S 'Yellow Shirt' protest movement officially renamed itself on Tuesday the New Politics Party, six months after leading an economically devastating blockade of Bangkok's airports.

The royalist grouping announced in May that it was forming a political party and senior members said that they would register with the Election Commission on Thursday under the new name.

Formerly known as the People's Alliance for Democracy (PAD), they helped topple premier Thaksin Shinawatra in 2006 before launching the airport siege in late 2008 to drive Thaksin's allies from government.

'Our policy is to support good, honest people with accountable track records who hate corruption,' said Somsak Kosaisuk, who was nominated on Tuesday the temporary head of the New Politics Party.

In its new incarnation, the party has also changed its signature colour scheme - worn as a sign of loyalty to the country's revered King Bhumibol Adulyadej - to a mix of yellow and green, he said.

'Yellow stands for upholding the monarchy, while green is for clean politics,' he said.

'We will allow people to directly take part in decision-making and inform people as well as distribute resources fairly.'

He did not say whether the new party supported the old PAD's controversial call for changes to Thailand's one-man one-vote system, which had delivered victories for populist tycoon Thaksin and his allies.

The PAD was backed by the Bangkok-based elite and circles in the palace, military and bureaucracy who loathed Thaksin. The former premier is living in exile to avoid a jail term for corruption.

The new party promises to be influential, with the potential to take votes from the same support base behind current Prime Minister Abhisit Vejjajiva's shaky coalition ahead of elections that could be held by next year.