The Companies Commission of Malaysia, or Suruhanjaya Syarikat Malaysia (SSM), will be bringing into force the last remaining provision of the Companies Act 2016 (CA 2016). This is section 241 of the CA 2016 on the requirement for all company secretaries to register with SSM. SSM will issue practising certificates to all company secretaries.
In line with the coming into force of section 241 of the CA 2016, SSM has published its
Consultative Document on the Proposed Companies (Practising Certificate) Regulations 2019. SSM has invited comments on the Consultative Document by 30 October 2018.
I set out a bit of history leading up to this important provision for registration of all company secretaries, and my observations on the Consultative Document.
This post is a part of a series based on my
workshop at MaGIC in September 2015. It’s a basic introduction to legalities for startup founders. You can Law for Startups . access the slides here
Read the earlier posts for context:
Law for startups in Malaysia — building on the best foundations. The legal landscape in Malaysia for startups — a hybrid of traditional corporate practices and Silicon Valley models.
One of the earliest decisions that a startup or small business founder will have to make is choosing the right business vehicle through which the business/idea will be carried out.
Business vehicle options
The most common business vehicle options in Malaysia are —
; sole proprietorships / partnerships (Companies / Sdn Bhd); and private limited liability companies most recently, the (LLP). limited liability partnership Unfortunately, Elon hasn’t made this vehicle available in Malaysia yet.