Please be informed that the transitional period stated in the ‘Guidelines for the Reporting Framework for Beneficial Ownership of Legal Persons’ ending on 31 December 2020 has been extended to a later date to be determined by the Registrar to coincide with the enforcement date of the proposed Companies (Amendment) Bill and Limited Liability Partnerships (Amendment) Bill.
During the extended transitional period, companies and limited liability partnerships shall continue to identify and verify the beneficial owners to ensure the beneficial ownership information is accurate and up to date. It is also important that the information kept at the entity’s level can be accessed in a timely manner. Please take note that companies are required to lodge the beneficial ownership information together with the annual return.
Taking into consideration the importance of the beneficial ownership reporting framework, SSM will conduct inspections to ensure companies and limited liability partnerships comply with the beneficial ownership reporting requirements.
Please refer to the FAQs provided in the SSM official website at www.ssm.com.my.
For more information, kindly contact SSM Call Centre at 03-7721 4000 or email to enquiry@ssm.com.my.
Thank you.
SURUHANJAYA SYARIKAT MALAYSIA
17 DECEMBER 2020
