company law

Practising Certificate for Company Secretaries and the Duties of Company Secretaries

Lee Shih1 Comment

Section 241 of the Companies Act 2016 (CA 2016) has come into force today on 15 March 2019 (see P.U.(B) 138/2019). This is the last provision of the CA 2016 to be brought into force. Under this section, all qualified persons who wish to act as a company secretary must register with the Registrar of Companies.

With the coming into force of section 241, the Companies (Practising Certificate for Secretaries) Regulations 2019 and Guidelines Relating to Practising Certificate for Secretaries Under Section 241 of the Companies Act 2016 have also come into force on 15 March 2019. There is also a FAQ section on the Companies Commission of Malaysia website. Continue reading →

Case Update: Court of Appeal on Staying the Dismissal of Judicial Management Application

Lee Shih1 Comment

The Court of Appeal in the Wellcom Communications case has decided on certain significant issues relating to a judicial management application (see the grounds of judgment dated 13 February 2019). This is Malaysia’s first appellate decision relating to judicial management.

In summary, upon the filing of a judicial management application, an automatic moratorium applies. This will stay all legal proceedings from continuing or from being commenced against the applicant company. The Court of Appeal has held that once the judicial management application is dismissed, there cannot be a grant of any stay order to stay the dismissal of the application in order to revive the moratorium effect. Continue reading →

Malaysian Bar Seminar: Claims Involving Companies and Misdirected Funds or Opportunities

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On Thursday 28 March, I will be speaking at the Malaysian Bar seminar titled ‘Claims Involving Companies and Misdirected Funds or Opportunities‘. This seminar is open to members of the Bar as well as members of the public. You can click on the registration form over here.

The seminar focuses on issues relating to claims involving companies and misdirected funds or opportunities. The speakers will combine their academic and practical perspectives and how to frame the appropriate causes of action in both common law and equity. Continue reading →

Case Update: Federal Court Confirms Jurisdiction to Set Aside a Winding Up Order

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The Federal Court in grounds of judgment dated 22 November 2018 in the SKS Foam decision confirmed the Court’s jurisdiction to set aside a perfected winding up Order in certain limited instances.

The Court is able to exercise its jurisdiction under the Federal Court case of Badiaddin to set aside its own Order where the defect is of such a serious nature that there is a need to set aside the Order in the interests of justice. Continue reading →

Revised Version of the Companies Act 2016

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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. Continue reading →

Corporate Rescue in Malaysia: Relevant Documents for Corporate Voluntary Arrangement and Judicial Management

Lee Shih1 Comment

For those involved in the restructuring and insolvency field, I thought it would be useful to set out all the relevant provisions, subsidiary legislation and documents for the corporate rescue mechanism in Malaysia. Corporate rescue under the Companies Act 2016 is corporate voluntary arrangement and judicial management.

Continue reading →