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)]
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| 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) …”
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| 6. | 266(2)(a)(i) and (b)(i) | Powers and duties of auditors | “(2) An auditor shall, in a report under this section, state … (a) … (i) so as to give a true and fair view of the matters required by section 249 … (b) … (i) … have given a true and fair view of the matters required under section 249 …”
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| 7. | 448 | Conversion to creditors’ voluntary winding up | “As from the day on which the creditors’ meeting is held under section 447 …” |