The companies act 1965, in its current form 15 august 2007, consists of 12 parts containing 374 sections and 10 schedules including 36 amendments. The companies act 2016 ca 2016 repealed the companies act 1965 ca 1965 and changed the landscape of company law in malaysia. Highlights of the companies act 2016 uitm faculty of law. Meaning of the directors report for purposes of sections 16 to 24. Guidelines for auditors to inform the registrar prior to cessation of office under section 172a of the companies act 1965. No section form form under companies act 1965 format pdf format word 1. Provision for payment into consolidated revenue account in certain cases of unclaimed money in court 6. Prohibition of registration of company limited by guarantee with a share capital. On section 218 1 e in companies act 1965 stated that when a. This act shall come into operation on such day, not earlier than the 1st day of july, 1966, as the minister by order appoints. Companies and allied matters act arrangement of sections part a companies part i corporate affairs commission section 1. Section 2 14 in the companies act, 1956 14 district court means the principal civil court of original jurisdiction in a district, but does not include a high court in the exercise of its ordinary original civil jurisdiction. Administration of estates act 66 of 1965 page 3 of 52. Administration of estates amendment act 54 of 1970.
Reservation of name for later use part b incorporation and legal status of companies. Incorporating latest amendment act a1118 2001 first enacted. Directors and officers section 1, s2, s2a, s2b, s2c, s2e, s4 meeting and proceedings section 145 and s145 a. Section 25a of the federal reserve act, which is classified to subchapter ii 611 et seq. On section 218 1 e in companies act 1965 stated that when. Malaysia new companies act 2016 and company regulations 2017 print ready version 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. There are many major changes to the companies act 1965 during the companies amendment act 2007 which came into force in 15th of august year 2007.
Construction of references in other acts to companies registered under companies consolidation act 1908 and act of 1963. Section 14 construction of references to estates of deceased. Ssm einfo services is an internet based service to provide search and purchase of registered company roc and business rob information online. The companies commission of malaysia ssm or the registrar have notified that the ca 2016 and company regulations. Laws of malaysia act 125 companies act 1965 arrangement of sections part i preliminary section 1. Explanation on the application of thresholds provided for under section 2c1b of the companies act 1965. It is like company to buy time to avoid coming up liquidation proceedings. When a company is wind up or going to be wind up, section 176 of companies act 1965 will be there to help the company from being chase by debts. Laws of malaysia act 370 unclaimed money act 1965 arrangement of sections section 1. Income tax act 88 of 1965 income tax act 55 of 1966 income tax act 95 of 1967 income tax act 76 of 1968. References in the subsequent provisions of this act and in any subsequent enactment to the estate of a deceased person shall, unless the contrary intention appears, include references to both the real and personal estate of that deceased person. Section 25 of the federal reserve act, referred to in subsec. On section 218 1 e in companies act 1965 stated that when a company is indentified to be unable to pay its debts and liability, the court will have the right to order a winding up on the said company. Everybody can access this service with internet connection using online payment such as prepaid, credit card visa, mastercard, amex.
Section 14 construction of references to estates of. The companies act, 20 has been notified in the official gazette on 30th august, 20 but the provisions of this act shall come into force on such dates as the central government may. Penalization of furnishing false information under part iii. Tribunal constituted under the industrial disputes act, 1947 14 of 1947, or by any other authority. This requirement has been refined by section 112 2 of the act by. It furthermore proposes the transformation of three existing company law entities, namely the takeover regulation panel, the financial reporting. The companies act, 20 passed by the parliament has received the assent of the president of india on 29th august, 20. Part ii registration, renewal and termination of business application 4. For guidance, the developers looked to south african company law for the 21st century. The ca 2016 reformed almost all aspects of company law in malaysia. The companies act 1965, section 67a, currently allows a public company to purchase its own shares if the company is solvent at the date of purchase and will not be insolvent as a result of the buyback, and the purchase is made in good faith and in the interests of the company. Guidelines for corporate law reform may 2004, a policy document developed by the department of.
The registered office of the company will be situated in malaysia. The words except the state of jammu and kashmir omitted by act 62 of 1956. This article will provide an overview of the ca 2016. Definition of insolvency a company is said to be insolvent when the company is unable to pay its debts back and or meet its financial obligations to the creditor when the debts and or. Companies act 1965 revised 1973 incorporating latest amendment act a1299 2007 first enacted. Section 9 b ca 2016 act stipulates that a company shall have one or more members. In order to be protect under section 176, several procedures need to be comply. Companies income tax act an act to consolidate the provisions of the companies income tax act 1961 and to make other provisions relating thereto. The companies act, 20 has been notified in the official gazette on 30th august, 20. Definition of insolvency a company is said to be insolvent when the company is unable to pay its debts back and or meet its financial obligations to the creditor when the debts and. May 16, 2009 the duty to disclose finds expression in section 1 of the companies act 1965. The act consolidates and amends the law relating to companies. Consequential cesser of powers under section 14 of the.
Accounting records, financial statements, financial. Attention of the ministry has been drawn to difficulties being faced by stakeholders while filing form inc. Consequential cesser of powers under section 14 of the insurance companies act 1958 and section 18 of the protection of depositors act 1963. First reprint 1988, second reprint 1995, third reprint 2000. Section 2 2 of the act as amended by the companies amendment act 2007 also prohibits generally competing with the company. Section 14 of companies act, 20 alteration of articles. Powers and duties of auditors as to reports on accounts. Auditors report and right of access to books and to attend and be heard at meetings. The name of the company is su nway construction group berhad. Additional matters of general nature to be dealt with in directors report. The duty to disclose finds expression in section 1 of the companies act 1965. Revised legislation carried on this site may not be fully up to date. Companies act 1985 is up to date with all changes known to be in force on or before december 2019.
The memorandum of association of a company shall be in such one of the forms in tables b, c, d and e in schedule i as may be applicable to the case of the company, or in. Changes and effects are recorded by our editorial team in lists which can be found. This an act to consolidate and amend the law relating to companies. Contents companies act 2008 notes on the guide to companies act no 71 of 2008 2 1. There are changes that may be brought into force at a future date. Section 14 construction of references to estates of deceased persons source succession act 1965 section 14. Bray v ford 1896 ac 44 hl 7 aberdeen rail co v blaikie brothers 184360 all er rep 249 hl 8 regal hastings ltd v gulliver and others 1967 2 ac 4 hl. The memorandum of association of a company shall be in such one of the forms in tables b, c, d and e in. Power of officer of court to sell securities and power of. This revised act is an administrative consolidation of the succession act 1965.
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. Company directors and their duties part 2 reading law. The objects for which the company is established are. The amendments falls into a few categories which involve the. Some of the provisions of the act have been implemented by a notification. This is an alternative to over the counter transactions. Application, for purposes of part iii, of certain provisions. This act shall not apply to a any business which is exclusively owned and carried on by any company registered under the companies act 1965 act 125. The relevant provisions of companies act, 20 second proviso to subsection 1 and subsection 2 of section 14 have not been notified. Malaysia new companies act 2016 kensington trust group. When corporations deemed to be related to each other 6a.
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