Companies Act 2016 (Act 777) (As At 25 April 2025) - 9789678930833 - ILBS
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Product Description
Companies Act 2016 (Act 777)
[As At 25th April 2025]An Act to provide for the registration, administration and dissolution of companies and corporations and to provide for related matters.
Detailed contents of Companies Act 2016 (Act 777):
The Companies Act 2016 (Act 777) of Malaysia is a comprehensive piece of legislation that governs the incorporation, registration, and management of companies in the country. The Act replaces the previous Companies Act 1965 and aims to provide a more modern, flexible, and user-friendly framework for companies. Some key provisions of the Act include:
- Simplified incorporation procedures, including the ability to incorporate a company online.
- A new concept of "single-member companies" which are companies with only one shareholder.
- Stricter requirements for directors, including stricter obligations to act in the best interests of the company.
- A new framework for corporate governance, including provisions for shareholder engagement and protection of minority shareholder rights.
- New provisions for resolving disputes between shareholders and between companies and their stakeholders.
- An expanded framework for mergers and acquisitions, including simplified procedures for cross-border mergers.
The Companies Act 2016 is an important piece of legislation for anyone doing business in Malaysia and serves as a guide for companies on how to operate within the legal framework set by the government.