Form and content of constitution 43. “The Constitution ” means the Constitution of the Company as originally framed or as altered from time to time by Special Resolution. No par value shares 48. New form of constitution PART VII – SHARES Sub-Part A – Legal nature and types of shares 46. 52. Power of inspectors to carry an investigation into the affairs of related companies. Introduction Section 550 of the Companies Act 2016 (CA 2016) provides a procedure for a company to be dissolved without having to undertake the formal process of winding up. 56. This an Act to consolidate and amend the law relating to companies. Under the Companies Act 2016, it appears that dormant companies and small private companies will no longer need to appoint auditors. Effect of Act on company not having constitution 42. Penalties. Duty of directors to act in good faith and in best interests of company. The CA 2016 reformed almost all aspects of company law in Malaysia. 3. 182. Inspector’s report. Section 2(1) Companies Act 2016 defined the term ‘director’. Ordinance, 1984(XLVII of 1984) and Companies Ordinance, 2016 (VI of 2016); (19) ―company limited by guarantee‖ means a company having the liability of its members limited by the memorandum to such amount as the members may respectively thereby undertake to contribute to the assets of the company in the event of its being … 185. These regulations became effective on 1 May 2011, at the same time that the Companies Act No 71, 2008, became effective. 179. (Omitted) Section 3. The Act replaces the Companies Act, 61 of 1973 and came into effect on 1 May 2011. 183. Interpretation Section 5. It may be effected when the Registrar exercises his power under Section 549 of CA 2016 to strike a company off the register 2. New Delhi, the 21 st July 2016. 17 of 2015 Date of Assent: 11 th September, 2015 Date of Commencement: Section I on 15th September, 2015 All other provisions: See Section 1 (3) and (4) ARRANGEMENT OF SECTIONS Section PART I—PRELIMINARY I —Short title and commencement. AIDS HELPLINE: 0800-123-22 Prevention is the cure . Re‐registration of public company as private. 181. “The Act ” means the Companies Act 2016 and every other Act for the time being in force concerning companies and affecting the Company. Interpretation In this Act – ―Advisory Board‖ means the Co-operative Development Advisory Board set up under section 102; ―annual general meeting‖ means the general meeting held once in every financial year where members exercise most of their rights; ―application‖ means an application for registration under section 14; ―a International Business Companies Act, 2016. 189. Number of Act: 15. 176. This provision allows … Any person occupying the position of the director of a corporation by whatever name called and includes a person in accordance with whose directors or instructions the majority of directors of a corporation are accustomed to act and alternate or substitute director. 187. Date of promulgation: 10 August 2016. 177. Modiﬁed application with respect to state-owned companies 10. The Minister of Trade and Industry has in terms of section 223 and Item 14 of Schedule 5 of the Companies Act published the Companies Regulations. 55. This Act may be cited as the Co-operatives Act 2016. Expenses of investigation of a company’s affairs. 71 of 2008: Companies Act, 2008. Effect of constitution 44. Validity of acts of directors. Definition of ultimate holding company Section 5B. Act 125 COMPANIES ACT 1965 Section 1. 1 This Act may be cited as the Companies Act. Minimum Number of Members. Director's to have regard to interests of employees. 716(E).– In exercise of the powers conferred by section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely;-1. Adoption, alteration and revocation of constitution 45. 188. Saving of rules of equity 4. 178. COMPANIES ACT 1965 (REVISED - 1973) Incorporating latest amendment - Act A1299 /2007 First enacted : 1965 (Act No. Formation 6. Section 9(b) CA 2016 Act stipulates that ‘A company shall have one or more members…’. 190. Interpretation 3. Company Secretary, Shristi Infrastructure and CS (Dr.) Sanjeev Kumar, Executive Director, Bajaj Hindustan Sugar Limited for their value addition made to the publication. Jul 23, 2018 #6 law_guru said: Hi Fellow law students! 168/1966] Reprinted : First Reprint 1988, Second Reprint 1995, Third Reprint 2000: Revised up to : 1973 (As Act 125 w.e.f. No. Secretary. 175. The SAICA guide to the Companies Act 71 of 2008 has been released. This article will provide an overview of the CA 2016. 79 of 1965) Date of coming into operation : [Throughout Malaysia 15 April 1966, P.U. 51. Repeals Section 4. Name convention 7. Now, the MCA has relaxed the applicability of CARO 2016 to private companies by increasing applicability thresholds. Aug 14, 2016 Messages 2 Reaction score 0 Points 1. Section. This Act may be cited as the Non-Governmental Organisations Act, 2016. Re‐registration of company limited by shares as unlimited. 180. Inspector’s report to be evidence. Avoidance of acts done by person in dual capacity. Production of documents and evidence on investigation. G.S.R. 2— Objects of this Act. Re‐registration of unlimited as limited by shares. Short title and Commencement – (1) These rules may be called the National Company Law Tribunal Rules, 2016. Modiﬁed application with respect to non-proﬁt companies CHAPTER 2 FORMATION, ADMINISTRATION AND DISSOLUTION OF COMPANIES Part A Reservation and registration of company names 11. LIMITED LIABILITY COMPANY ACT 2016 2016 : 40 TABLE OF CONTENTS PART 1 PRELIMINARY Citation Interpretation Interpretation of subsidiary, holding company etc. 2. Date of assent: 04 August 2016. We support ministers in leading the nation’s health and social care to help people live more independent, healthier lives for longer. Management of company. Definition of subsidiary and holding company Section 5A. Short title and commencement 2. Foreign companies intending to carry on business in Nigeria. No. 186. Allowing for audit exemption also brings Malaysia in line with practices in other countries like the UK, Australia and Singapore. This guide includes information on matters that are practical and relevant to SAICA members and other individuals in business who engage with company law. Liability Company Act 2016 the [Type of Form] a facsimile of which is attached hereto was filed in the office of the Registrar by: [Name of Limited Liability Company] Limited Liability Company/L.L.C./LLC . The Companies Act 2016 (CA 2016) repealed the Companies Act 1965 (CA 1965) and changed the landscape of company law in Malaysia. Definition of wholly-owned subsidiary Section 6. Long title: An Act to consolidate and modernise the law relating to the International Business Companies in line with the changes in the international field for matters connected therewith or incidental thereto . Reservation … THE COMPANIES ACT No. Legal nature and types of shares 47. “The Board ” means the Board of Directors or Directors for the time being of the Company. Power to exempt foreign companies. CARO 2016 will not apply to the auditor’s report on consolidated financial statements. Commencement This Act shall come into force on a date appointed by the Minister by statutory instrument. The total number of clauses in the new CARO is 16. 184. F. 22(40)/2016 -Legis.—The following Act of Majlis e Shoora (Parliament) received the assent of the President on the 30th May, 2017 is hereby published for general information:— ACT NO. Act Non-Governmental Organisations Act 2016 2. Short title Section 2. 3 —Interpretation of provisions of this Act. Effect of Act on company having constitution 41. Act 1 Companies Act 2012. Registrar and register of limited liability company PART 2 FORMATION AND REGISTRATION 5. R.S., c. 81, s. 1. 53. The Companies Act, 2013 passed by the Parliament has received the assent of the President of India on 29th August, 2013. 14 December 1973) _____ ARRANGEMENT OF SECTIONS _____ Long Title … Year of Act: 2016. Criteria for names of companies 12. Powers to be exercised for proper purpose. Here in this thread I am sharing lecture notes in ebook format (pdf) for the subject - Company Law for LLB and BA.LLB students. 9. CHAPTER 3 Foreign companies 54. Directors duty of care. WHO ARE DIRECTORS? SECTION 550 OF THE COMPANIES ACT 2016 1. Number of directors. Corporate Restructuring Companies Act, 2016: Download: 30/08/2016: The Securities and Exchange Commission of Pakistan Act, 1997, with up-to-date amendments: Download: 24/05/2017: The Limited Liability Partnership Act, 2017: Download: 14/07/2017: The Companies (Appointment of Legal Advisors) Act, 1974: Download: 09/04/2018 : Corporate Rehabilitation Act 2018: Download: 07/09/2018: 3rd , 4th … 227 (4A) of Companies Act 1956. Proceedings on an inspector’s report. This audit exemption will allow startups and SMEs to enjoy further cost savings in the running of their businesses. The Limited Liability Companies Law, 2016 2 THE LIMITED LIABILITY COMPANIES LAW, 2016 ARRANGEMENT OF SECTIONS PART 1 PRELIMINARY 1.