Enforcement Of Section 241 Of The Companies Act 2016
| Section 241 of the Companies Act 2016 (“CA 2016”) has come into force on 15 March 2019.
With the coming into force of this section, any qualified person who wishes to act as a company secretary is now required to register with the Registrar of Companies (“Registrar”) irrespective of his or her professional background.
In line with the implementation of this section, the Companies Commission of Malaysia has introduced the Companies (Practising Certificate for Secretaries) Regulations 2019 and the Guidelines Relating to Practising Certificate for Secretaries under Section 241 of the Companies Act 2016 which serve to outline the parameters of the registration procedures as well as the duties and responsibilities of a company secretary.
Pursuant to the CA 2016 and the abovementioned regulations and guidelines, the Registrar will issue a practising certificate to an applicant upon being satisfied that all requirements have been complied with and the applicant is fit and proper to be registered, and enter the particulars of the applicant in the register of secretaries.
The CA 2016 also provides a transitional period whereby existing company secretaries may continue to act as secretary and they have a period of 12 months from the coming into force of Section 241 to register.
All applications for practicing certificates must be made online through https://esecretary.ssm.com.my |
If you have any queries arising from the above developments, please do not hesitate to get in touch with our team.
| Jalalullail Othman
Partner
|
Ivan Ho Yue Chan
Partner |
Khong Mei Lin
Partner |