Companies Act 2016 (Act 777) (As At 1st June 2024) - 9789678930437 - ILBS
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Product Description
Companies Act 2016 (Act 777)
As At 1st June 2024
An Act to provide for the registration, administration and dissolution of companies and corporations and to provide for related matters.
Detailed contents of Companies Act 2016 (Act 777):
The Companies Act 2016 (Act 777) of Malaysia is a comprehensive piece of legislation that governs the incorporation, registration, and management of companies in the country. The Act replaces the previous Companies Act 1965 and aims to provide a more modern, flexible, and user-friendly framework for companies. Some key provisions of the Act include:
Simplified incorporation procedures, including the ability to incorporate a company online.
A new concept of "single-member companies" which are companies with only one shareholder.
Stricter requirements for directors, including stricter obligations to act in the best interests of the company.
A new framework for corporate governance, including provisions for shareholder engagement and protection of minority shareholder rights.
New provisions for resolving disputes between shareholders and between companies and their stakeholders.
An expanded framework for mergers and acquisitions, including simplified procedures for cross-border mergers.
The Companies Act 2016 is an important piece of legislation for anyone doing business in Malaysia and serves as a guide for companies on how to operate within the legal framework set by the government.