Section 58 Companies Act 2016 Malaysia

An act to provide for the registration administration and dissolution of companies and corporations and to provide for related matters.

Section 58 companies act 2016 malaysia. Please read the information provided below. 1 this act may be cited as the companies act 2016. The companies act 2016 ca 2016 repealed the companies act 1965 ca 1965 and changed the landscape of company law in malaysia. Short title and commencement.

Companies act 2016. Each section gives a brief explanation of the rules and regulations which needs to be followed by each and every company in malaysia. Every director and officer of the company shall be mindful of complying with the companies act 2016 regarding displaying the name of the company and having the address of its registered office in malaysia. It is an offence for a director to make a solvency statement without reasonable grounds for his opinion.

This requirement is only applicable to the minimum number of directors in the case of a private company at least one. Section 30 of the company act 2016. The ca 2016 reformed almost all aspects of company law in malaysia. The companies act 2016 is the updated version of 1956 companies act in malaysia.

The companies commission of malaysia ssm or the registrar have notified that the ca 2016 and company regulations 2017 cr 2017 will be. Law of malaysia. Procedures on resignation of secretary under section 237 of the companies act 2016 pdf 5. Queries issued on documents and applications lodged with t he registrar pdf 6.

Companies act 2016. The country has decided to update the companies act from 1956 to 2016. On conviction he could be fined a maximum of rm500 000 or imprisoned. In the case of a public company at least two.

Under the companies act 2016 section 196 4 provides the requirement for a director that he must ordinarily reside in malaysia by having a principal place of residence in malaysia. Section 9 b ca 2016 act stipulates that a company shall have one. This article will provide an overview of the ca 2016. Companies act 2016 section 58 notification of change in the register of directors managers and secretaries company name nature of change.

Nor azimah abdul aziz deputy ceo regulatory enforcement companies commission of malaysia. The malaysian act 2016 has a lot of sections. 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. Enacted by the parliament of malaysia as follows.

Governed by s 112 2 and 3 ca 2016. It is an offence under section 591 of the companies act 2016 to make or authorize the making of a statement that a person knows is false or misleading and that person may be liable.