12 March, 2020
The amendments to the Companies Act 2016 (“Act”) introduced under the Companies (Amendment) Bill 2019 (“Bill”) have been widely discussed since the Bill was first introduced.
As the Companies (Amendment) Act 2019 (“Amendment Act”) has recently come into force on 15 January 2020, this article serves as a brief refresher on the key amendments made to clarify some of the provisions of the Act and improve the internal procedures of a company.
Some of the key amendments are highlighted below:
- Execution of Documents
Section 66(1) of the Act states that a document is deemed executed by a company when it is affixed with the common seal or signed in accordance with section 66(2) of the Act.
The definition of “document” under section 2 of the Act provided a very broad definition that covers a wide variety of documents. This gave rise to some confusion on the extent of application of section 66(1).
The full article can be found from Zicolaw's site here.
For more information, please contact:
Tatt King Loo, Partner, Zaid Ibrahim & Co (a member of ZICO Law)
tatt.king.loo@zicolaw.com
