Malaysia Company Act 2017

Setting up a new company in malaysia is not an easy task.

Malaysia company act 2017. All intricately set to ensure the seamless incorporation of a company. Exclusion of corporations and companies 122. This article will provide an overview of the ca 2016. The companies act 2016 and companies regulations 2017 new act have mostly come into force as of 31 january 2017.

Minimum number of members. The new act aims to reduce the cost of doing business in malaysia while increasing protection for stakeholders of a company. Companies commission of malaysia. The companies commission of malaysia ssm has announced that the companies act 2016 will be brought into force in stages starting from 31 january 2017.

Companies act 2016 and companies regulations 2017. B payment by cheque made payable to or to the order of the employee. Or c any company converted into a private company pursuant to section 26 1 being a company which has not ceased to be a private company under section 26 or 27. 14 laws of malaysia act 360.

Companies act and company law in malaysia regulations pertaining to the legal formation of a company. This also means the repeal of the companies act 1965. A any company which immediately prior to the commencement of this act was a private company underthe repealed written laws b any company incorporated as a private company by virtue of section 15. Following last tuesday s announcement by the companies commission of malaysia ccm the first phase of the ca 2016 and the companies regulations 2017 cr 2017 have now taken effect.

The companies act 2016 ca 2016 repealed the companies act 1965 ca 1965 and changed the landscape of company law in malaysia. Administration in bankruptcy of estate of person dying insolvent general rules. Note see sections 4 and 5 of the bankruptcy amendment act 2017 act a1534. The ca 2016 reformed almost all aspects of company law in malaysia.

Almost all of the provisions of the new act will be brought into force on 31 january 2017. A payment into an account at a bank or a finance company licensed under the banking and financial institutions act 1989 in any part of malaysia being an account in the name of the employee or an account in the name of the employee jointly with one or more other persons.