SSM National Insolvency Conference 2017: Corporate Restructuring & Insolvency under the Companies Act 2015

On 3 October 2017, the Companies Commission of Malaysia (SSM) is holding the SSM National Insolvency Conference 2017 entitled ‘Corporate Restructuring & Insolvency under Companies Act 2016: A Paradigm Change’. I have been involved in the organising of the sessions and it promises to be a very interesting conference. The registration fee is RM700.

I will be speaking and moderating Session 2 on ‘Corporate Rescue Mechanism: How It Will Work’. Joining me will be Mohamed Sufyan Mohamed Mokhtar from SSM and  Victor Saw of PwC.

Under the Companies Act 2016, the corporate rescue mechanism is made up of corporate voluntary arrangement and judicial management. Although the corporate rescue mechanism provisions have not been brought into force yet, it is anticipated that these provisions will come into effect by May 2018. In the meantime, the new draft Corporate Rescue Mechanism Rules are close to being finalised as well.

In our Session 2, the speakers will be fleshing out the application of the corporate voluntary arrangement and judicial management through factual scenarios. That should assist in seeing the practical implementation of these new mechanisms.

The other topics covered at the National Insolvency Conference are:

  • The World Bank’s Perspective on Debtors’ and Creditors’ Rights.
  • New Guidelines in Striking Off of Companies and Asset Management of Dissolved Companies.
  • Impact of the Companies Act 2016 on Winding Up.
  • What It Takes to Become an Insolvency Practitioner.

The full brochure and registration form can be found here.

 

Advertisements

MAICSA Annual Conference 2017: Three Questions Raised

On 12 September 2017, I was invited to be a speaker at the MAICSA Annual Conference 2017. This was on the Plenary Session 2 on Companies Act 2016 – Key Insights and Implications for Directors/Shareholders. It was moderated by my co-author and chartered secretary, Kenneth Foo.

Having delivered my presentation, there were interesting questions from the floor as well as through my interactions with the audience members. I thought it would be useful to highlight 3 of the questions I received. They are an indication of the issues still concerning practitioners and companies . Continue reading

Speaking on the Companies Act 2016: Impact and Compliance

There have been a number of readers who have been asking when I will next be speaking on the Companies Act 2016, especially if there is a seminar in Kuala Lumpur.

The Malaysian Lawyer has now partnered up with Legal Logic Asia for this special one-day seminar on the Companies Act 2016: Impact and Compliance of New Laws & Regulations under the Companies Act in Malaysia. You can click on the image below for the registration form.

The seminar will be on 4 April 2017 at Pullman Hotel Bangsar. The early bird registration fee is RM800 while the normal fee is RM900. newco3 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: Effective 31 January 2017

The Companies Commission of Malaysia (SSM) has announced that the Companies Act 2016 will be brought into force, in stages, starting from 31 January 2017. [update: The gazette notice has been issued. Almost all of the provisions of the new Act will be brought into force on 31 January 2017. I have written about this and the 10 things to immediately prepare for.]

file-16-9-16-11-41-38-pm

There is a lot of uncertainty on which parts of the new Act will be brought into force first. What are some of the immediate changes that will be effective in two weeks’ time? I try to deal with some of these issues.

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