Companies Act 1965 And Companies Act 2016

Act 125 companies act 1965 incorporating all amendments up to 1 january 2006 published by the commissioner of law revision malaysia under the authority of the revision of laws act 1968 in collaboration with percetakan nasional malaysia bhd 2006.

Companies act 1965 and companies act 2016. The new companies act 2016 new ca provides for easier incorporation of companies compared to the existing companies act 1965 ca 1965. 1973 as act 125 w e f. Short title and commencement. Be prepared for the change in doing business in malaysia.

An act to provide for the registration administration and dissolution of companies and corporations and to provide for related matters. Revised up to. This article summarises the key changes under the new act below. First reprint 1988 second reprint 1995 third reprint 2000.

The duties of directors stipulated in the companies act 2016 are not exhaustive and generally directors are imposed with statutory duties duty of care and fiduciary duties. The seal means the common. In these regulations the act means the companies act 1965 act 125. Single shareholder and director.

Under the companies act 1965 old act a memorandum and articles of association m a is required for a company to be incorporated. Companies act 1965 revised 1973 fourth schedule sections 4 30 table a regulations for management of a company limited by shares. Under the companies act 2016 new act the m a is replaced by constitution. An individual being the single shareholder and single director can incorporate a company.

Companies act 1965 revised 1973 incorporating latest amendment act a1299 2007 first enacted. Taking effect on 31st january 2017 the companies act 2016 was established by the companies commission of malaysia ssm to replace the companies act 1965 with several key updates to benefit smes greatly such as lowering the minimum requirements for the company registration of a sdn bhd and simplifying the mandatory compliances that a sdn bhd has to follow. Companies incorporated post 31 january 2017 being the effective date of the new act have the option of whether to. Throughout malaysia 15 april 1966 p u.

The ca 2016 reformed almost all aspects of company law in malaysia. In addition directors are also governed by a directors code of ethics. Minimum number of members. A director has onerous duties under the companies act 2016 as in common law.

1 this act may be cited as the companies act 2016. The companies act 2016 act came into force on 31 january 2017 save for section 241 in relation to the requirement of a secretary to register with the registrar and division 8 of part iii in relation to corporate rescue mechanism the act replaced the companies act 1965. The companies act 2016 ca 2016 repealed the companies act 1965 ca 1965 and changed the landscape of company law in malaysia. 79 of 1965 date of coming into operation.