7 Changes to Shareholders’ Rights and Remedies under the Companies Act 2016

One of the aims of the Companies Act 2016 is to strengthen shareholders’ rights. I anticipate further avenues for shareholders, in particular minority shareholders, to ensure that their rights are protected.

Shareholders

I set out below 7 changes to shareholders’ rights and remedies. In particular, some of these changes will likely lead to more shareholder litigation. This will test the exact limits of the new laws. For consistent reference, I will be referring to the term ‘shareholder’ and not to the term member of the company. Continue reading

Advertisements

Uncertainty in Signing Documents under the Companies Act 2016?

There were some new provisions under the Companies Act 2016 that caused a great deal of uncertainty on the signing of documents and contracts.  One frequently asked question was whether all documents executed on behalf of the company now required at least one director to sign that document. Such a requirement would create tremendous logistical problems.

contract

I explain this issue below and how there is now some clarification from the Companies Commission of Malaysia (SSM). Continue reading

The Companies Act 2016 in force on 31 January 2017: 10 Things To Immediately Prepare For

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.

03

With 31 January 2017 merely days away, I set out the 10 crucial things companies can consider preparing for under the Companies Act 2016.

Continue reading

Launch of My Book on the Companies Act 2016

Today was the official launch of my book on Companies Act 2016: The New Dynamics of Company Law in Malaysia. For those of you interested to purchase a copy, you can click on the image below to place your orders with CLJ Law. The retail price of the book is RM250.

companies-act-2016_banner-fb

I am incredibly proud and very humbled to see the book finally in print. I hope that it contributes in some small way to the development of company law in Malaysia. Continue reading

Companies Act 2016: The New Dynamics of Company Law in Malaysia

I have been working hard over the last few months writing my book, ‘Companies Act 2016: The New Dynamics of Company Law in Malaysia‘. The process was tiring but very rewarding. It was a culmination of my 10-over years of experience in company law.

My co-author is Kenneth Foo, an experienced Chartered Company Secretary. In this book, we have combined our experience in company law, company secretarial, compliance and insolvency practice. The book will be officially launched at an event on 24 January 2017. Read below for more information.

companies-act-2016_banner-fb Continue reading

Companies Act 2016: Small Companies Do Not Need Auditors

Under the Companies Act 2016, it appears that dormant companies and small private companies will no longer need to appoint auditors. This audit exemption will allow startups and SMEs to enjoy further cost savings in the running of their businesses.

Allowing for audit exemption also brings Malaysia in line with practices in other countries like the UK, Australia and Singapore.

[edit: The Companies Commission of Malaysia has now published the feedback it has received on the public consultation on the proposed audit exemption. I have written about it here.]

audit1
Image from NY – http://nyphotographic.com

Continue reading