Companies Act 2016 (Act 777), Regulations & Rules [As At 5th October 2022]
Companies Act 2016 (Act 777)
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.
Reasons you should have the Companies Act 2016 (Act 777)?
The Companies Act 2016 (Act 777) is a legislative text that serves as the primary reference for companies operating in Malaysia. It sets out the rules and regulations that companies must comply with in order to be in good standing with the government.
It is important for individuals or companies to purchase the Companies Act 2016 if they are:
- Starting a new company in Malaysia and want to ensure they are operating within the legal framework set by the government.
- Currently running a company in Malaysia and want to make sure they are up-to-date with the latest laws and regulations.
- Involved in the management of a company, such as serving as a director or shareholder, and want to understand their obligations and responsibilities under the law.
- Involved in legal or financial matters related to companies, such as dispute resolution or mergers and acquisitions, and need to understand the relevant provisions of the Companies Act.
Having a copy of the Companies Act 2016 on hand can help individuals and companies make informed decisions and stay compliant with the law.
Companies Act 2016 (Act 777) Contains:
Companies Regulations 2017
Companies (Prescribed Interest for Islamic Securities Selling and Buying Negotiated Transaction) Regulations 2017
Companies (Corporate Rescue Mechanism) Rules 2018
Companies (Practising Certificate for Secretaries) Regulations 2019
Companies (Company Auditor and Liquidator Fees) Regulations 2020