The Companies Commission of Malaysia (SSM) has made an important announcement that the Companies Act 2016 [Act 777] has been reprinted as at 1 November 2018 with certain minor revisions. These typographical revisions were made under the powers of the Revision of Laws Act 1968.
The reprinted Companies Act 2016 (as at 1 November 2018) can be found on the SSM website here.
From a comparison of the gazetted Companies Act 2016 and the reprinted version, here are the 7 changes:
|CA 2016||Subject matter||Change to the wording|
|1.||47(2)||Documents to be kept at registered office||“(2) Any document referred to in subsection (1), other than documents referred to in paragraph (1)(e), may be kept at a place other than at the registered office of a company provided notice to that effect has been given to the Registrar.”|
|2.||56(7)||Power of company to require disclosure of beneficial interest in its voting shares||“(7) Subject to subsection (9), any person who …”|
|3.||137(4)||Substantial shareholder to notify company of his interest||“(4) The notice shall be given notwithstanding that the person has ceased to be a substantial shareholder before the expiration of the period referred to in subsection (3).”|
|4.||223(1)(b)(i), (ii)||Approval of company required for disposal by directors of company’s undertaking or property||[now renamed to 223(1)(b)(A) and 223(1)(b)(B)]|
|5.||224(3), (4) and (5)||Loans to director||“(3) Paragraph (2)(b) or (c) …”|
“(4) If there is no prior approval given under subsection (3) …”
“(5) If there is no authorization given by company under subsection (4) …”
|6.||266(2)(a)(i) and (b)(i)||Powers and duties of auditors||“(2) An auditor shall, in a report under this section, state …|
(i) so as to give a true and fair view of the matters required by section 249 …
(i) … have given a true and fair view of the matters required under section 249 …”
|7.||448||Conversion to creditors’ voluntary winding up||“As from the day on which the creditors’ meeting is held under section 447 …”|