Authors: Krishnan Arjunan
Publisher: LexisNexis

This text has a comprehensive coverage of the major changes introduced by the new Companies Act 2016, including the following: no par value share system; one-person companies; unlimited capacity; optional constitution; optional objects clause; general abolition of the ‘constructive notice’ doctrine; new provisions on share buy-backs and reduction of capital; the re-vamping of insolvency laws; and the corporate rescue mechanism.

The Annotated Malaysian Companies Act 2016 provides invaluable section-by-section annotations to the Companies Act 2016, throwing light on the application and interpretation of the provisions of the Act.

It is written by a select team of experienced practitioners and academicians with extensive knowledge of company and corporate law in Malaysia. The full text of the Act accompanies the high-quality annotations which are insightful, practical and authoritative, enabling a confident understanding of the workings of the Act.

Highlights of the second edition:

coming into force of Division 8 Part III on corporate rescue mechanism and the Rules relating to voluntary arrangement and judicial management;
operation of section 241 on the requirement of company secretaries to register with the Registrar;
changes made by the Companies (Amendment) Act 2019 (Act A1065) which aimed at enhancing internal procedures of companies for more organised and effective governance such as execution of documents, redemption of preference shares, power of company to alter its capital, remuneration of auditors, as well as powers of receivers and managers on liquidation;
reintroduction of the court’s power to order security for costs against a company acting as plaintiff in any action or other proceedings under the new section 580A of the Act;
discussion of new court judgments including Seacera Group Bhd v Dato’ Tan Wei Lian & 6 Ors [2019] 4 AMR 491, which considered important legal issues on notice of general meeting of a public company; and Mohamed Zahid Yon bin Mohamed Fuad v Jason Jonathan Lo & Ors [2020] 1 AMR 744, where the court clarified the interpretation of the new members’ written resolution in the Act;
references to the latest Guidelines issued by the Companies Commission of Malaysia;
consideration of new subsidiary legislation made under the Act within the commentary
KEY FEATURES:

Section-by-section commentary to the Act written in simple and straightforward style
Commentary supported by copious citation of case authorities
Update on the Companies (Amendment) Act 2019 (Act A1065)
All defined terms are identified with direct cross-reference to the provision where each definition is found
Clear page guides to assist the user to locate a specific section or Part of the Act quickly and efficiently
Supplemented by detailed index for easy access to the annotations