At the MIA International Accountants Conference 2016 today, I spoke on panel session on the Companies Act 2016.
The speaker from the Companies Commission of Malaysia (CCM) announced that the new Act will be brought into force in the first quarter of 2017, except for the provisions on the two new corporate rescue mechanisms of corporate voluntary arrangement (CVA) and judicial management (JM). Time is needed for the subsidiary legislation for CVA and JM to be drafted and approved by the Rules Committee under the Courts of Judicature Act 1964. The target would be for CVA and JM to be brought into force before the end of 2017.