Act 777
Companies Act 2016
Akta syarikat 2016
An Act to provide for the registration, administration and dissolution of companies and corporations and to provide for related matters.
Data synced
Text as at 1 August 2022 (LOM reprint); amendments made after that date may not be incorporated.
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Part I β Preliminary
s 1Short title and commencements 2Interpretations 3Definition of βcorporationβs 4Definition of βsubsidiary and holding companyβs 5Definition of βultimate holding companyβs 6Definition of βwholly-owned subsidiaryβs 7When corporations deemed to be related to each others 8Interests in sharesPart II β Formation and administration of companies
Division 1 β Types of Companies
s 9Essential requirements of a companys 10Types of companiess 11Private or public companys 12Prohibition on companies limited by guarantee with a share capitals 13Prohibition for unincorporated associations, etc.Division 2 β Incorporation and Its Effects
s 14Application for incorporations 15Registration for incorporations 16Power to refuse registration of incorporations 17Certificate of incorporations 18Effect of incorporations 19Notice of registration as conclusive evidences 20Separate legal entitys 21Companies have unlimited capacityDivision 3 β Restriction on Subsidiary Being Member of Its Holding Company
s 22Membership of holding companys 23Subsidiary acting as a participating dealers 24Protection of third parties in other cases where a subsidiary acts as a dealer in securitiesDivision 4 β Name of Company
s 25Name of companys 26Availability of names 27Confirmation of availability and reservation of names 28Change of names 29Power of Registrar to direct a change of names 30Publication of nameDivision 5 β Constitution of a Company
s 31Constitution of a companys 32Company may adopt a constitutions 33Effect of constitutions 34Form of constitutions 35Contents of a companyβs constitutions 36Company may alter or amend constitutions 37Court may alter or amend constitutions 38Company limited by guarantee shall have a constitutions 39Non-application of doctrine of constructive noticeDivision 6 β Conversion of Company Status
s 40Conversion from an unlimited company to a limited companys 41Conversion from public companies to private companies or private companies to public companiesDivision 7 β Provisions Applicable to Certain Types of Companies
s 42Private companiess 43Prohibition of private companies to offer shares or debentures or invite to deposit moneys 44Offer to the publics 45Company limited by guaranteeDivision 8 β Registered Office and Registers
s 46Registered office and office hourss 47Documents to be kept at registered offices 48Inspection of documents and records kept by companys 49Forms of documents and other means for recording of documentss 50Register of memberss 51Duty to notify of particulars and changes in the register of memberss 52Index of members of companys 53Branch register of memberss 54Place where register of members and index to be kepts 55Inspection and closing of register of members and indexs 56Power of company to require disclosure of beneficial interest in its voting sharess 57Register of directors, managers and secretariess 58Duty to notify of particulars and changes of director, manager and secretarys 59Register of directorsβ shareholdings, etc.s 60Register of debenture holders and copies of trust deedDivision 9 β Execution of Documents
s 61Company sealss 62Official seal for use abroads 63Official seal for share certificates, etc.s 64Company contractss 65Pre-incorporation contracts 66Execution of documentss 67Execution of deedsDivision 10 β Annual Return
s 68Duty to lodge annual returnPart III β Management of company
Division 1 β Share and Capital Maintenance
Subdivision 1 β Share Capital
s 69Types of sharess 70Nature of sharess 71Rights and powers attached to sharess 72Preference sharess 73Prohibition to issue bearerβs share warrantss 74No par value sharess 75Exercise of power of directors to allot shares or grant rightss 76Allotment of shares or grant of rights with company approvals 77Registration of allotment in the register of memberss 78Return of allotments 79General prohibition of commissions, discounts and allowancess 80Permitted commissionss 81Differences in calls and payments, etc.s 82Calls on sharess 83Forfeiture of sharess 84Power of company to alter its share capitals 85Pre-emptive rights to new sharess 86Conversion of shares into stocks 87Rights and privileges of stockholderss 88Rights attached to sharess 89Classes of sharess 90Description of shares of different classess 91Variation of class rightss 92Notifying shareholders of variations 93Disallowance or confirmation of variation by Courts 94Delivery of order of Court to Registrars 95Notifying Registrar of variations 96Variation includes abrogationSubdivision 2 β Share Certificate, Title, Transfer and Transmission
s 97Issuance of share certificates 98Application for issuance of share certificates 99Delivery of share certificates 100Numbering of sharess 101Registration of members constitute as evidence of legal titles 102Duty of secretary to enter issuance and transfer of shares in the register of memberss 103Rectifications 104Loss or destruction of certificatess 105Requirement for instrument of transfers 106Registration of transfer or refusal of registrations 107Order of Court for registrations 108Validation of shares improperly issueds 109Registration of transmission of shares or debenturess 110Limitation of liability of trustee, etc., registered as owner of sharess 111Lien on sharesSubdivision 3 β Solvency Statement
s 112Solvency tests 113Solvency statements 114Offences regarding solvency statementSubdivision 4 β Reduction of Share Capital
s 115Company may reduce its share capitals 116Reduction of share capital by Courts 117Reduction of share capital by private or public companys 118Creditorβs right to object to the reduction of the share capital by the companys 119Position at end of period for objection by creditors 120Power of Court in relation to objection by creditors 121Offences for making groundless or false statementss 122Liability of members on reduced sharesSubdivision 5 β Assistance by a Company in the Purchase
s 123Financial assistance by a company in dealings in its shares, etc.s 124Consequences of failing to comply with this Subdivisions 125General exceptionss 126Financial assistance not exceeding ten per centum of shareholdersβ fundss 127Purchase by a company of its own shares, etc.s 128Options to take up unissued sharess 129Register of options to take up unissued shares in a companys 130Power of company to pay interest out of capital in certain casesSubdivision 6 β Dividends
s 131Distribution out of profits 132Distribution only if company is solvents 133Recovery of distributionSubdivision 7 β Substantial Shareholdings
s 134Application and interpretations 135Persons obliged to comply with Subdivisions 136Substantial shareholdings and substantial shareholderss 137Substantial shareholder to notify company of his interestss 138Substantial shareholder to notify company of change in his interestss 139Person who ceases to be substantial shareholder to notify companys 140References to operation of interests in sharess 141Copy of notice to be served on the Registrars 142Notice to non-residentss 143Registrar may extend time for giving notice under this Subdivisions 144Company to keep and maintain register of substantial shareholderss 145Powers of Court with respect to defaulting substantial shareholdersSubdivision 8 β The Central Depository System β A Book-Entry or Scripless
s 146Interpretations 147Depositor deemed to be members 148Transfer of securities is by way of book entrys 149Rectification of record of depositorss 150Non-application of section 472 to disposition made by way of book entrys 151Exemption from this SubdivisionSubdivision 9 β Prospectus
s 152Application of Subdivision 9s 153Power of Minister to exempt the application of Subdivision 9s 154Requirement to register and lodge prospectuss 155Registration of prospectuss 156Refusal to register a prospectuss 157Keeping of documents relating to prospectuss 158Invitations to the public to lend money to or to deposit money with a corporations 159Form and content of prospectuss 160Consent from person to issue prospectus containing his statements 161Relief from requirements as to form and content of prospectuss 162Retention of over-subscription in issuance of debentures 163Certain advertisements deemed to be prospectusess 164Document containing offer of shares for sale to be deemed prospectuss 165Information memorandum deemed to be prospectuss 166Supplemental prospectus or replacement prospectuss 167Civil liability for misstatement in prospectuss 168Criminal liability for misstatement in prospectuss 169Persons not to be taken to have authorized or caused issue of prospectuss 170Stop orderSubdivision 10 β Debentures
s 171Application of Subdivision 10s 172Specific performance of contractss 173Perpetual debenturess 174Power to re-issue redeemed debenturess 175Deposit of debentures to secure advancess 176Qualifications of trustee for debenture holderss 177Duties of trustees 178Retirement of trustees 179Contents of trust deeds 180Power of Court in relation to certain irredeemable debenturess 181Power of trustee to apply to Court for directions, etc.s 182Obligations of borrowing corporations 183Obligation of guarantor corporation to furnish informations 184Loans and deposits to be immediately refundable on certain eventss 185Liability of trustee for debenture holdersSubdivision 11 β Restrictions on Allotment and Commencement of Business
s 186Prohibition of allotment unless minimum subscription receiveds 187Application for moneys to be held in trust until allotments 188Restriction on allotment in certain casess 189Requirements as to statements in lieu of prospectuss 190Restrictions on commencement of business in certain circumstancess 191Restriction on varying contracts referred to in prospectus, etc.Division 2 β Members, Directors and Officers of Companies
Subdivision 1 β Members
s 192Liability of memberss 193Liability for calls and forfeitures 194Shareholders not bound to acquire additional shares by alteration to constitutions 195Membersβ rights for management reviewSubdivision 2 β Directors
s 196Directors of companys 197Persons connected with directorss 198Persons disqualified from being a directors 199Power of Court to disqualify persons from acting as director or promoters 200Power of Registrar to remove name of disqualified directors 201Directorsβ consent requireds 202Named directors and subsequent directorss 203Appointment of directors of public company to be voted on individuallys 204Validity of acts of directors and officerss 205Retirement of directorss 206Removal of directorss 207Right to be heard for directors of public company against removals 208Vacation of office of directors 209Resignation, vacation or death of sole director or last remaining directorSubdivision 3 β Directorsβ Duties and Responsibilities
s 210Interpretations 211Functions of Boards 212Proceedings of Boards 213Duties and responsibilities of directorss 214Business judgment rules 215Reliance on information provided by otherss 216Responsibility for actions of delegatees 217Responsibility of a nominee directors 218Prohibition against improper use of property, position, etc.s 219General duty to make disclosures 220Effect of other rules of law on duties of directorss 221Disclosure of interest in contracts, proposed contracts, property, offices, etc.s 222Interested director not to participate or votes 223Approval of company required for disposal by directors of companyβs undertaking or propertys 224Loans to directors 225Prohibition of loans to persons connected with directorss 226Prohibition of tax free payments to directorss 227Payment to directors for loss of office, etc.s 228Transactions with directors, substantial shareholders or connected personss 229Exception to section 228s 230Approvals for fees of directorss 231Directorsβ service contractss 232Copy of contracts to be available for inspections 233Right of member to inspect and request copys 234Contract with sole member who is also a directorSubdivision 4 β Secretary
s 235Requirement for a secretarys 236Appointment of a secretarys 237Resignation of a secretarys 238Disqualification to act as a secretarys 239Removal of a secretarys 240Office of secretary shall not be left vacants 241Requirement to register with Registrars 242Prohibition to act in dual capacityDivision 3 β Accounts and Audit
Subdivision 1 β Financial Statements and Report
s 243Interpretations 244Compliance with approved accounting standardss 245Accounts to be kepts 246System of internal controls 247Accounting periods of companies within the same groups 248Directors shall prepare financial statementss 249General requirements for financial statementss 250Subsidiaries to be included in consolidated financial statementss 251Financial statements to be approved by the Boards 252Directors shall prepare directorsβ reports 253Contents of directorsβ reports 254Form and content of directorsβ report and financial statement of a banking corporation, etc.s 255Relief from requirements as to form and content of financial statements and directorsβ reports 256Power of Registrar to require a statement of valuation of assetss 257Duty to circulate copies of financial statements and reportss 258Time allowed for sending out copies of financial statements and reportss 259Duty to lodge financial statements and reports with the Registrars 260Duty to lodge certificate relating to exempt private companys 261Auditorβs statementsSubdivision 2 β Auditors
s 262Definition of βoutgoing auditorβs 263Company auditors to be approved by Minister charged with responsibility for finances 264Company auditorss 265Registration of firms of auditorss 266Powers and duties of auditorsChapter I β Provisions relating to Auditor of Private Company
s 267Appointment of auditors of private companys 268Power of Registrar to appoint auditors of private companys 269Term of office of auditors of private companys 270Prevention by members of deemed re-appointment of auditorChapter II β Provisions relating to Auditor of Public Company
s 271Appointment of auditors of public companys 272Power of the Registrar to appoint auditors of public companys 273Term of office of auditors of public companyChapter III β General Provisions relating to Auditors
s 274Fixing of auditorβs remunerations 275Obligation to furnish particulars of payment made to auditorss 276Resolution to remove auditor from offices 277Special notice required for resolution to remove auditor from offices 278Notice to Registrar of resolution to remove auditor from offices 279Procedure to appoint auditor by written resolutions 280Procedure to appoint auditor at a meeting of memberss 281Resignation of auditors 282Notice of resignation of auditor to Registrars 283Rights of resigning auditor of a public companys 284Duty to inform upon cessation of offices 285Attendance of auditors at general meetings where financial statements are laids 286Auditor and other person to enjoy qualified privilege in certain circumstancess 287Duties of auditors to trustee for debenture holdersDivision 4 β Indemnity and Insurance for Officers and Auditors
s 288Provisions indemnifying directors or officerss 289Indemnity and insurance for officers and auditorsDivision 5 β Meetings
Subdivision 1 β Meetings and Resolutions for Members
s 290Passing a resolutions 291Ordinary resolutionss 292Special resolutionss 293General rules on votings 294Votes by proxys 295Votes of joint holders of sharess 296Right to object to a personβs entitlement to voteSubdivision 2 β Written Resolutions of Private Companies
s 297Written resolutions of private companiess 298Eligibility of members to receive written resolutions 299Circulation dates 300Manner in which a written resolution to be circulateds 301Circulation of written resolutions proposed by directorss 302Membersβ power to require circulation of written resolutions 303Circulation of written resolution proposed by memberss 304Expenses of circulations 305Application not to circulate a memberβs written resolutions 306Procedure for signifying agreement to written resolutions 307Period for agreeing to written resolutions 308Sending of documents relating to written resolutions by electronic meansSubdivision 3 β Passing Resolutions at Meetings of Members
s 309Resolutions at meetings of memberss 310Power to convene meetings of memberss 311Power to require directors to convene meetings of memberss 312Directorsβ duty to call meetings required by memberss 313Power of members to convene meeting of members at companyβs expenses 314Power of Court to order meetings 315Resolution passed at adjourned meetingSubdivision 4 β Notice of Meetings
s 316Notice required for meetings of memberss 317Contents of notices of meetings of memberss 318Notice of adjourned meetings of memberss 319Manner in which notice to be givens 320Notification of publication of notice of meeting on websites 321Persons entitled to receive notice of meetings of memberss 322Resolution requiring special notices 323Power of members to require circulation of statementss 324Directorβs duty to circulate membersβ statements 325Power of Court to order non-circulation of membersβ statements 326Sending documents relating to a meeting by electronic meansSubdivision 5 β Procedure at Meetings
s 327Meetings of members at two or more venuess 328Quorum at meetingss 329Chairperson of meetings of memberss 330Declaration by chairperson on a show of handss 331Right to demand a polls 332Voting on a polls 333Representation of corporations at meetings of membersSubdivision 6 β Proxies
s 334Appointment of proxiess 335Notice of meetings of members to contain statement of rights to appoint proxiess 336Proxy as a chairperson of a meeting of memberss 337Right of proxy to demand for a polls 338Termination of a personβs authority to act as a proxySubdivision 7 β Class Meetings
s 339Application to class meetingsSubdivision 8 β Additional Requirements for Public Companies
s 340Annual general meetingSubdivision 9 β Record of Resolutions and Meetings
s 341Records of resolutions and meetingss 342Inspection of records of resolutions and meetingss 343Records as evidence of resolutionss 344Details of decisions provided by a sole memberDivision 6 β Remedies
s 345Interpretations 346Remedy in cases of an oppressions 347Derivative proceedingss 348Leave of Courts 349Effect of ratifications 350Powers of the Courts 351InjunctionDivision 7 β Charges, Arrangements and Reconstructions and Receivership
Subdivision 1 β Charges
s 352Registration of chargess 353Types of charges require registrations 354Registration of charges created over property outside Malaysias 355Registration of charges in series of debenturess 356Duty of company to register charges existing on property acquireds 357Register of charges to be kept by Registrars 358Endorsement of certificate of registration on debenturess 359Assignment and variation of charges 360Satisfaction and release of property from charges 361Extension of time and rectification of register of chargess 362Company to keep instruments of charges and register of chargess 363Documents made out of Malaysias 364Application of this Subdivision to foreign companySubdivision 2 β Arrangements and Reconstructions
s 365Interpretations 366Power of Court to order compromise or arrangement with creditors and memberss 367Power of Court to appoint an approved liquidators 368Power of Court to restrain proceedingss 369Information as to compromise or arrangement with creditors and memberss 370Reconstruction and amalgamation of companiess 371Right of offeror to buy outSubdivision 3 β Receivers and Receivers and Managers
s 372Qualification for appointment of receiver or receiver and managers 373Disqualification for appointment as receiver or receiver and managers 374Appointment of receiver or receiver and managers 375Appointment of receiver or receiver and manager under instruments 376Appointment of receiver or receiver and manager by Courts 377Notice of appointment of receiver or receiver and managers 378Vacancy in office of receiver or receiver and managers 379Notice of cessation of offices 380Statement relating to appointment of receiver or receiver and managers 381Liability of receiver or receiver and managers 382Liability for contracts 383Power of receiver or receiver and managers 384Application to Court for directionss 385Appointment of liquidator as receiver or receiver and manager in cases of winding ups 386Powers of receiver or receiver and manager on liquidations 387Power of Court to fix remuneration of receiver or receiver and managers 388Provisions as to information if receiver or receiver and manager appointeds 389Obligations of company and directors to provide information to receiver or receiver and managers 390Submission of statement of affairss 391Lodging of accounts of receiver or receiver and managers 392Payments of certain debts subject to floating charge in priority to claims under charges 393Enforcement of duty of receiver or receiver and manager, etc., to make returnsDivision 8 β Corporate Rescue Mechanism
s 394InterpretationSubdivision 1 β Corporate Voluntary Arrangement
s 395Non-application of this Subdivisions 396Persons who may propose voluntary arrangements 397Proposal for voluntary arrangements 398Moratoriums 399Summoning of meetingss 400Decisions of meetingss 401Implementation of proposals 402Arrangements coming to an end prematurelySubdivision 2 β Judicial Management
s 403Non-application of this Subdivisions 404Application to Court for a company to be placed under judicial management and for appointment of a judicial managers 405Power of Court to make a judicial management order and appoint a judicial managers 406Duration of judicial management order and its extensions 407Nomination of judicial managers 408Notice of application for judicial management orders 409Dismissal of application for judicial management orders 410Effect of application for a judicial management orders 411Effect of judicial management orders 412Notification that a company is under judicial management orders 413Vacancy in appointment of judicial managers 414General powers and duties of judicial managers 415Power to deal with charged property, etc.s 416Agency and liability for contractss 417Vacation of office and releases 418Information to be given by and to judicial managers 419Companyβs statement of affairss 420Statement of proposalss 421Consideration of proposals by creditorsβ meetings 422Committee of creditorss 423Duty to manage companyβs affairs, etc., in accordance with approved proposalss 424Duty to apply for discharge of judicial management orders 425Protection of interests of creditors and memberss 426Undue preference in judicial managements 427Delivery and seizure of propertys 428Duty to co-operate with judicial managers 429Inquiry into companyβs dealings, etc.s 430Application of provisions of winding up of a company under judicial managementPart IV β Cessation of companies
Division 1 β Voluntary and Compulsory Winding Up
Subdivision 1 β Preliminary
s 431Application of winding up provisionss 432Modes of winding ups 433Qualification of liquidators 434Government bound by certain provisionsSubdivision 2 β Contributories
s 435Liability as contributories of present and past memberss 436Nature of liability of contributorys 437Contributories in the case of death of members 438Contributories in case of bankruptcy of memberSubdivision 3 β Voluntary Winding Up
s 439Circumstances in which company may be wound up voluntarilys 440Interim liquidatorss 441Date of commencement of winding ups 442Effect of voluntary winding ups 443Declaration of solvencys 444Distinction between βmembersβ and βcreditorsβ voluntary winding upSubdivision 4 β Membersβ Voluntary Winding Up
s 445Appointment and removal of liquidators 446Power to fill vacancy in office of liquidators 447Duty of liquidator to call for creditorsβ meeting in case of insolvencys 448Conversion to creditorsβ voluntary winding upSubdivision 5 β Creditorsβ Voluntary Winding Up
s 449Meeting of creditorss 450Liquidators in creditorsβ voluntary winding ups 451Property and proceedingsSubdivision 6 β Provisions Applicable to Every Voluntary Winding Up
s 452Distribution of property of companys 453Appointment or removal of liquidator by Courts 454Remuneration of liquidators in voluntary winding ups 455Act of liquidator valid, etc.s 456Powers of liquidator in a voluntary winding ups 457Power of liquidator to accept shares, etc., as consideration for sale of property of companys 458Annual meeting of members and creditorss 459Final meeting and dissolutions 460Arrangement binding on creditorss 461Application to Court to have questions determined or powers exerciseds 462Costss 463Limitation on right to wind up voluntarilySubdivision 7 β Winding Up by Court
s 464Petition of winding ups 465Circumstances in which company may be wound up by Courts 466Definition of βinability to pay debtsβs 467Commencement of winding up by the Courts 468Payment of preliminary costs by petitioners 469Powers of Court on hearing petition for winding ups 470Power of Court to stay or restrain proceedings against company prior to order of winding ups 471Action or proceeding stayed after winding up orders 472Avoidance of dispositions of property or certain attachment, etc.s 473Petition to be lis pendenss 474Lodgement of winding up orders 475Effect of winding up orderSubdivision 8 β Provisions relating to Liquidators in Winding Up by Court
s 476Interim liquidators 477Appointment, style, etc., of liquidatorss 478Appointment of other person as liquidator other than Official Receivers 479Remuneration of liquidators in winding up by Courts 480Control of approved liquidator by Official Receivers 481Control of Official Receiver by Ministers 482Resignation or removal of liquidator in winding up by Courts 483Custody and vesting of companyβs propertys 484Submission of statement of affairs of companys 485Report by liquidators 486Powers of liquidator in winding up by Courts 487Exercise and control of liquidatorβs powerss 488Liquidator to pay moneys received into bank accounts 489Settlement of list of contributories and application of assetss 490Release of liquidators and dissolution of companys 491Orders of release or dissolutionSubdivision 9 β General Powers of Court in Winding Up by Court
s 492Power of Court to stay winding ups 493Power of Court to terminate winding ups 494Matters relating to stay and termination of winding ups 495Debts due by contributory to company and extent of set offs 496Power of Court to make callss 497Payment of moneys due to company into named banks 498Order on contributory conclusive evidences 499Appointment of special managers 500Claims of creditors and distribution of assetss 501Inspection of books and papers by creditors and contributoriess 502Power to summon persons connected with companys 503Power to order public examination of promoters, directors, etc.s 504Power to arrest absconding contributorys 505Delegation of powers of Court to liquidators 506Powers of Court cumulativeDivision 2 β Provisions Applicable to Every Winding Up
Subdivision 1 β General
s 507Investment of surplus funds on general accounts 508Unclaimed assets to be paid to receiver of revenues 509Books and papers to be kept by liquidators 510Control of Court over liquidatorss 511Delivery of property to liquidators 512Powers of Official Receiver where no committee of inspections 513Notice of appointment and address of liquidators 514Liquidatorβs accountss 515Liquidator to make good defaultss 516Notification that a company is in liquidations 517Appeal against decision of liquidators 518Books and papers of companys 519Expenses of winding up where assets insufficients 520Resolutions passed at adjourned meetings of creditors and contributoriess 521Meetings to ascertain wishes of creditors or contributoriess 522Special commission for receiving evidenceSubdivision 2 β Proof and Ranking of Claims
s 523Description of debts provable in winding ups 524Rights and duties of secured creditorss 525Rights and duties of unsecured creditorss 526Mutual credit and set-offs 527PrioritiesSubdivision 3 β Effect on Other Transactions
s 528Undue preferences 529Effect of floating charges 530Liquidatorβs right to recover in respect of certain sales to or by companys 531Disclaimer of onerous propertys 532Interpretations 533Restriction of rights of creditor as to execution or attachments 534Duties of bailiff as to goods taken in executions 535Power of Court to declare dissolution of company voidSubdivision 4 β Offences
s 536Offences by officers of companies in liquidations 537Inducement to be appointed as liquidator, etc.s 538Falsification of books, etc.s 539Liability where proper accounts not kepts 540Responsibility for fraudulent tradings 541Power of Court to assess damages against delinquent officers, etc.s 542Prosecution of delinquent officers and members of companyDivision 3 β Winding Up of Unregistered Companies
s 543Provisions of Division cumulatives 544Unregistered companys 545Winding up of unregistered companiess 546Contributories in winding up of unregistered companys 547Power of Court to stay or restrain proceedingss 548Outstanding assets of a dissolved unregistered companyDivision 4 β Striking Off and Management of Assets of Dissolved
Subdivision 1 β Striking Off
s 549Power of Registrar to strike off companys 550Application to strike off companys 551Notice of intention to strike off companys 552Objection to striking offs 553Withdrawal of striking off applications 554Effect of striking offs 555Power of Court to reinstate struck off company into registerSubdivision 2 β Management of Assets of Dissolved Companies
s 556Power of Registrar to represent dissolved company in certain circumstancess 557Outstanding assets of dissolved or struck off company to vest in Registrars 558Disposal of outstanding interests in propertys 559Liability of Registrar and Government as to property vested in Registrars 560Accounts and auditPart V β Miscellaneous
Division 1 β Foreign Companies
s 561Prohibition on carrying on business in Malaysias 562Registration of foreign companiess 563Requirement for foreign companies to have agents 564Name of foreign company and its publications 565Obligation to state name of foreign company, whether limited, and place where incorporateds 566Requirement to have a registered offices 567Return to be filed where documents, etc., altereds 568The branch registers 569Registration of shares in branch registers 570Removal of shares from branch registers 571Index of members, inspection and closing of branch registerss 572Transfer of shares and rectifications 573Branch register to be prima facie evidences 574Accounts to be kept by foreign companiess 575Financial statementss 576Annual returns 577Service of notices 578Cessation of business in Malaysias 579Power of foreign companies to hold immovable propertyDivision 2 β Enforcement and Sanctions
Subdivision 1 β Enforcement of the Act
s 580As to rights of witnesses to legal representations 580ASecurity for costss 581Power to grant reliefs 582Irregularities in proceedingss 583Disposal of shares of shareholder whose whereabouts unknowns 584Furnishing of information and particulars of shareholdings 585Court may compel compliances 586Translations of instrumentss 587Protection to certain officers who make disclosuress 588General penaltys 589Proceedings how and when takens 590Investigation of affairs of company at direction of MinisterSubdivision 2 β General Offences
s 591False and misleading statementss 592False reportss 593False report or statement to the Registrars 594Fraudulently inducing persons to invest moneys 595Fraud by officers 596Restriction on offering shares, debentures, etc., for subscription or purchases 597Restriction on the use of words βLimitedβ, βBerhadβ and βSendirianβs 598Prosecution of delinquent officers of companyDivision 3 β General Provisions
s 599Evidentiary value of copies certified by Registrars 600Evidence of statutory requirementss 601Registers and inspection of registers 602Rectification of registerss 603Disposal of old recordss 604Electronic lodgement of documentss 605Issuing document electronicallys 606Electronic information, etc., certified by Registrar admissible in evidences 607Enforcement of duty to make returnss 608Relodging of lost or destroyed documentss 609Time for lodging documents and extension of times 610Particulars and manner of information required to be lodged under this Acts 611Time for compliance with the requirements under this Acts 612Methods of communication between company and memberss 613Power to make regulationss 614Power to impose terms and conditionss 615Exemptions 616Ruless 617Power to amend SchedulesDivision 4 β Saving and Transitional
s 618Transitional provisions relating to abolition of nominal values 619General transitional provisionss 620Repeal and savingsFirst ScheduleFIRST SCHEDULESecond ScheduleSECOND SCHEDULEThird ScheduleTHIRD SCHEDULEFourth ScheduleFOURTH SCHEDULEFifth ScheduleFIFTH SCHEDULESixth ScheduleSIXTH SCHEDULESeventh ScheduleSEVENTH SCHEDULEEighth ScheduleEIGHTH SCHEDULENinth ScheduleNINTH SCHEDULETenth ScheduleTENTH SCHEDULEEleventh ScheduleELEVENTH SCHEDULETwelfth ScheduleTWELFTH SCHEDULEThirteenth ScheduleTHIRTEENTH SCHEDULECite this legislation
- Official citation
- Act 777
- Source
- lom.agc.gov.my
- Data synced
- Licence
- Official text, free to reproduce (Copyright Act 1987 [Act 332] s 3) β
Companies Act 2016 [Act 777] (Laws of Malaysia, lom.agc.gov.my). Retrieved via LawPlayer, https://lawplayer.com/my/act/act-777
This text is synced from lom.agc.gov.my. In case of any discrepancy, the authoritative text prevails.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).