This Consultative Document focuses on the review of the sanctions and enforcement provisions found under the Companies Act 1965. The objective of this review is to create a comprehensive framework by providing for sanctions which are appropriate to support the business environment.
In this Consultative Document, the present position under the Companies Act 1965 and those of the other jurisdictions have been laid out for discussion. Particular attention was paid to jurisdictions such as the UK and Australia as the legal frameworks closely resembles ours.
It is imperative that the corporate framework provides appropriate measures to ensure compliance with the provisions of the Act as any transgression will have an effect on the economy and the community at large.
We hope to receive views and comments on the recommendations stated in this Consultative Document. Please reply to Nor Azimah Abdul Aziz at the Companies Commission of Malaysia (SSM) by 2 January 2008.
Download the above consultative document here (.pdf)