Some company Act of Malaysia
by
sfconsultingmy
- 5:01 AM
The Companies Act of 2016 (CA 2016) abrogated the Companies Act 1965 (CA 1965) and changed the Landscape of Law in Malaysia. CA 2016 reforms almost all aspects of company law in Malaysia.
This article will provide an overview of CA 2016.
This article will provide an overview of CA 2016.
Formation of Company
By 2016, the process of joining the company has been simplified. The law offers a superb form of association. In Section 15, "Business Registry" ("ROC") informs you that you have registered your company registration number and registered with the expiration date and fee. The notice of registration is reliable evidence of the company's registration (Article 19). Upon request, ROC may issue a registration certificate and pay a specified fee.
Contract- Pre-incorporation
S65 (1) CA-2016 specifies a contract or agreement that may be made by or on behalf of the company at the time the company is not a party. Article 65 (1) means that the person who signed the contract must be personally liable for the contractor its agreement. Unlike their predecessors in 1965, they cannot exclude their own responsibility.
However, the position of the company regarding the liability of the corporation under the previous agreement remains the same. Article 65 (2) allows the ratification of the contract after the establishment of the company. If a company approves the contract, the company is bound by an existing contract or agreement from the date of the contract or agreement and is a part of the contract or agreement.
Section 30 (1) A company name and company number must be specified in the Office registered at 2016 and anywhere in which it operates, as well as where its assets are maintained. books. "Books", p.2 (1), is set out to include any registration or other account books and all accounts, including filling out, recording and archiving of accounting records and any documents. In addition, s30 (2) requires the company to disclose the company's registered name and registration number in corporate correspondence and documents, including its own website.