145x Filetype PDF File size 1.55 MB Source: law.uitm.edu.my
HIGHLIGHTS OF THE COMPANIES ACT 2016 By: Nor Azimah Abdul Aziz Deputy CEO (Regulatory & Enforcement) Companies Commission of Malaysia THE REFORMINITIATIVE CorporateLawReformInitiative The 4 year review by CLRC issued 12 Consultative Papers CLRC’s Final Report was Aproposaltorepealthe issued in 2008 comprising of CompaniesAct1965 188recommendations on wide-ranging aspects from incorporation to winding-up TheproposedCompaniesBillis TheAICC was established in draftedbasedonthe 4yearreview 2010and submitted its Final conductedbyCLRC&AICC Report in 2011 Recommendations bythe PublicConsultationonthedraft WorldBankReports, CompaniesBillwasconductedin developments inrelated laws July2013 (Capital Market and Banking legislations) Copyrights Reserved Companies Commission of Malaysia 2 IMPACTS OFTHENEWCOMPANIES ACT 2016 Copyrights Reserved Companies Commission of Malaysia 4 Companymay adoptM&A&AA after incorporation IntroductionofMembers’ MigrationtowardsNo Right ForManagement Par ValueRegime Review MODERNISING THECOMPANIESACT Introduction of Dividends be distributedout of profitsand is Business Review only allowed if it meets solvency test Report abolishingthe maximumagefor Copyrights Reserved Companies Commission of Malaysiadirectorship 5
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