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Articles of Association

3 Things Companies Should Prepare for under the Companies Bill

20 April, 201614 May, 2018Lee ShihLeave a comment

After my earlier introduction and summary of the new Companies Bill, I will be writing a series of articles on the new Companies Bill. I aim to release an article every few weeks or so, touching on the different areas of the new law. For ease of reference, I will continue to refer to it as the Companies Bill and insert the clause references in brackets.

I kick off this series by focusing on 3 things existing companies should already look out for under the Companies Bill.  While the Companies Bill may only come into force in the next 6-12 months or so, I highlight 3 areas companies should start preparing for right now.

Pic from techtarget.com
Pic from techtarget.com

 

In summary, these 3 areas are:

  1. Your existing Memorandum and Articles of Association: Do you need to fine-tune the provisions?
  2. The new law will shift to a no-par value regime: Impact on your existing share premium account.
  3. Putting in place checklists and guidelines for the new internal processes.

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Lee ShihArticles of Association, Companies Act, Companies Bill, Constitution, directors, lee shih, Share Premium Account, shareholders, Shares

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