It is now confirmed through the gazette notice. The Companies Act 2016 will come into force on 31 January 2017.
The entire Companies Act 2016 will come into operation except for the sections on: (1) the company secretary’s registration with the Registrar of Companies; and (2) the corporate rescue mechanisms. Hence, effectively, all companies will now have to operate under the Companies Act 2016 framework.
With 31 January 2017 merely days away, I set out the 10 crucial things companies can consider preparing for under the Companies Act 2016.
Guest writers Richard Wee, Lesley Lim and Vincent Lim write on the ground-breaking corporate sponsorship deal for the Axiata Arena. They share on the 4 sports law issues that arise in this deal.
Alongside the growth of the sports industry in recent times, there has been a trend for corporations and individuals of means to invest in sport stadiums through naming rights, a form of collaboration between two parties resulting in a company name being synonymous with a sporting team for a set period of time in exchange for a financial payment.
England has the 02 Arena while Shanghai has the Mercedes Benz Arena. Now, Malaysia has its very own multi-sport stadium, the Axiata Arena. Axiata Group Berhad has secured the exclusive sponsorship to work jointly with the Malaysia Stadium Corporation (Perbadanan Stadium Malaysia) on the redevelopment, modernisation as well as the rebranding of the Putra Indoor Stadium to Axiata Arena, making a mark in history as Malaysia’s first corporate named stadium.
A 10-year agreement worth RM55 million between the Malaysia Stadium Corporation and Axiata Group Berhad has been reached. The Malaysia Stadium Corporation will continue to be responsible for the maintenance while other upgrades will be to the extent of which Axiata had agreed upon as per the terms and conditions of the agreement.
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. [update: The gazette notice has been issued. Almost all of the provisions of the new Act will be brought into force on 31 January 2017. I have written about this and the 10 things to immediately prepare for.]
There is a lot of uncertainty on which parts of the new Act will be brought into force first. What are some of the immediate changes that will be effective in two weeks’ time? I try to deal with some of these issues.
I’m delighted to announce that my new book Law for Startups: What You Need to Know When Starting a Business will be available in all major bookstores from January 2017.
I’ve worked very hard together with my publisher, MPH Group Publishing, on this book throughout 2016, and the entire process—from ideation, to securing the publishing deal, writing the manuscript and sending it through the rigorous editorial process, through to the book design resulting in the end product that will be in stores—took less than a year.