Legal Requirements

 

Related Acts and Regulations which govern Company Secretaries in Malaysia are as follows:

  • Companies Act 2016;
  • Companies Regulations 2017;
  • Companies Commission of Malaysia (Amendment) Act 2015; and
  • Companies Commission Of Malaysia (Licensing Of Secretaries) Regulations 2017;

Under section 235(1) of the Companies Act 2016, a company shall have at least one company secretary with the following qualification:

  • A member of a body as set out in the Fourth Schedule; or
  • A person licensed by the Companies Commission of Malaysia (“Commission”) under section 20G of the Companies Commission of Malaysia (Amendment) Act 2015.

A licence issued under section 20G of the Companies Commission of Malaysia (Amendment) Act 2015 shall be valid for a period of three years from the date of issuance unless sooner suspended or revoked by the Commission or upon cessation under regulation 10 of the Companies Commission Of Malaysia (Licensing Of Secretaries) Regulations 2017.

Any person who acts without a valid licence, and every director who permits him to act in that capacity, commits an offence and shall, upon conviction, be liable to a fine not exceeding fifty thousand ringgit.