The Companies Bill 2015 has been debated and approved by Dewan Negara. We will see a brand new Company Law in 2016.
It is time to look into what are the changes in Company Law and be prepared for it. Click here to read more.
KUALA LUMPUR (28.4.2016): The Dewan Negara today passed the Companies Bill 2015 which was aimed at giving more impact in improving internal control, governance and corporate responsibility.
The bill, tabled by Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainuddin was passed after being debated by 12 senators.
It was formulated to replace the Companies Act 1965 (Act 125) which was regulated by the Companies Commission of Malaysia (SSM), and the bill had earlier been passed at the Dewan Rakyat on April 4.
The bill will do away with outdated procedures in the context of modern business, to reduce costs of compliance via facilitation apart from giving companies flexibility in their daily operation without compromising on internal control and corporate governance.
(URL: http://www.bernama.com/bernama/v8/newsindex.php?id=1240530 )