ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART XI - VARIOUS TYPES OF COMPANIES, ETC.
DIVISION 1 - FOREIGN COMPANIES

 
Section 330. Interpretation.
 
Section 330. Interpretation. (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) (1) In this Division, unless the contrary intention appears—


"agent" means the person named in a memorandum of appointment or power of attorney lodged under paragraph 332(1)(e) or subsection 333(6) or under any corresponding previous written law;

"carrying on business" includes establishing or using a share transfer or share registration office or administering, managing or otherwise dealing with property situated in Malaysia as an agent, legal personal representative, or trustee, whether by servants or agents or otherwise, and "to carry on business" has a corresponding meaning.

(2) Notwithstanding subsection (1), a foreign company shall not be regarded as carrying on business within Malaysia for the reason only that within Malaysia it—

    (a) is or becomes a party to any action or suit or any administrative or arbitration proceeding or effects settlement of an action, suit or proceeding or of any claim or dispute;

    (b) holds meetings of its directors or shareholders or carries on other activities concerning its internal affairs;

    (c) maintains any bank account;

    (d) effects any sale through an independent contractor;

    (e) solicits or procures any order which becomes a binding contract only if the order is accepted outside Malaysia.

    (f) creates evidence of any debt, or creates a charge on movable or immovable property;

    (g) secures or collects any of its debts or enforces its rights in regard to any securities relating to those debts;

    (h) conducts an isolated transaction that is completed within a period of thirty-one days, but not being one of a number of similar transactions repeated from time to time;

    (i) invests any of its funds or holds any property; or

    (j) import goods only temporarily pursuant to the Customs Act 1967 [Act 235] for the purpose of display, exhibition, demonstration or as trade samples with a view to subsequent re-exportation within a period of three months or within such further period as the Director General of Customs and Excise may in his discretion allow.