Companies Act 2016 Changes

This article highlights ten changes under the ca 2016 which directors should take note of.

Companies act 2016 changes. Malaysian companies act 2016. Effectively all companies in malaysia will now have to operate under the companies act 2016 framework. February 7 2017 admin 4 comments articles. Company secretary registration registration of companies and corporate rescue mechanism.

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. Single shareholder and director. As per the new companies act 2016 there are certain changes and reformed rules. An act to provide for the registration administration and dissolution of companies and corporations and to provide for related matters.

1 this act may be cited as the companies act 2016. Short title and commencement. As of 2017 end and currently the companies in malaysia is functioned according to the 2016 companies act. 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.

3 nothing in this act shall affect the table in any repealed written law corresponding to table a in the fourth schedule in force immediately before the date of commencement of section 181 of the companies amendment act 2014 or any part thereof either as originally enacted or as altered in pursuance of any statutory power or the corresponding table in any former written law relating to. Highlights to the salient changes under the companies act 2016. Highlights to the salient changes under the companies act 2016. The companies act 2016 mainly focuses on.

Agm mandatory only for public companies under the ca 2016. This article summarises the key changes under the new act below. According to reports the major changes are in relation to the incorporation procedure of companies the omission of authorised share capital and par value for shares as well as a corporate rescue mechanism for companies. The companies act 2016 ca 2016 of malaysia repealed the companies act 1965 ca 1965 with effect from 31 january 2017 the ca 2016 introduces some important changes relating to directors.

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.