Company Act 2016 Malaysia Changes

With the coming into force of the companies act 2016 a number of practical issues and questions have since cropped up.

Company act 2016 malaysia changes. This document has been updated from time to time presently it has been updated up until 3 april 2017 and helps to answer the most frequently asked questions. I have been working hard over the last few months writing my book companies act 2016. The company secretary s registration with the registrar of companies. The new companies bill 2015 bill which will replace the current companies act 1965 act as a whole and is expected to be gazzetted tentatively by end of august 2016 and its implementation shall commence as early as january 2017.

Companies act 2016. Section 9 b ca 2016 act stipulates that a company shall have one or more members. Minimum number of members. The companies commission of malaysia ssm did release its helpful faq document.

Name of company 5. The new dynamics of company law in malaysia. And the corporate rescue mechanisms. Or c any company converted into a private company pursuant to section 26 1 being a company which has not ceased to be a private company under section 26 or 27.

There is no changes in the company act for labuan company set up. It would be good to check both options of setting up malaysia sdn bhd and labuan company to match your nature of business before you commit to maximise your return. Faqs on the companies act 2016 act 777 background to the review process and new malaysian companies act faqs on the companies amendment bill 2019 documents to be lodged with the registrar for execution by directors officers or members of a company under the companies act 2016. It was a culmination of my 10 over years of experience in company law.

Constitution of company 6. Overview of malaysia new companies act 2016. My co author is kenneth foo an experienced chartered company secretary. The ca 2016 reformed almost all aspects of company law in malaysia.

Changes implemented by the companies act 2016. On 31 august 2016 the companies act 2016 ca 2016 had been gazetted to replace the companies act 1965 old ca to provide greater flexibility certainty and ease for those operating or doing business using malaysian companies. Malaysia new company act 2016. This provision allows the incorporation of a company with only one member.

The companies commission of malaysia ssm or the registrar have notified that the ca 2016 and company regulations 2017 cr 2017 will be. To notify registrar of any changes of information relating to a shareholder within 14 days after the information is recorded in the register of members. Conversion of company status 7. The companies act 2016 came into force in malaysia on january 31 2017.

However certain sections have yet to come into operation. Common problems facing by foreigners on malaysia sdn bhd company.