ACT 125

COMPANIES ACT 1965 (REVISED - 1973)

PART XI - VARIOUS TYPES OF COMPANIES, ETC.

DIVISION 1 - FOREIGN COMPANIES

Section 337. As to fee payable on registration of foreign company because of establishment of a share register in Malaysia.

(1) Where, on the registration of a company as a foreign company or on the lodging by a foreign company of a notice under subsection 335(2), the Registrar certifies in writing that he is satisfied that the company has established in Malaysia a share transfer or share registration office but has not otherwise carried on, is not otherwise carrying on and does not propose otherwise to carry on business in Malaysia, the liability to pay such part, if any, of the fee payable under item 18 or 19 of the Second Schedule in respect of the registration or the lodging of the notice as exceeds one thousand ringgit is, by force of this section, suspended until the company commences otherwise to carry on business in Malaysia or fails to comply with subsection (2), whichever first occurs, but thereupon the company is liable to pay to the Registrar that part of that fee. (2) A company shall, so long as a suspension under subsection (1) of liability to pay a fee in respect of the company continues, lodge with the Registrar in each year at the time when a copy of its balance sheet is lodged with the Registrar a notice in the prescribed form containing the prescribed particulars with respect to the business being carried on in Malaysia by the company. (3) Where a foreign company in respect of which the Registrar has issued a certificate under subsection (1) commences to carry on business in Malaysia otherwise than by reason of establishing or using a share transfer or share registration office, the company shall, within fourteen days after so commencing, lodge with the Registrar notice thereof in the prescribed form.