Search results
Status of Application to Strike-off a Company Under S308 of Companies Act 1965 / Under S550 of Companies Act 2016 Registration Type
There are 2 ways to close down a company in Malaysia- striking-off or winding-up. The Strike-Off option is a quick and simple solution when a corporation is no longer active and directors no longer want to pay for its upkeep. In this article, we explore in-depth on the Strike-Off option as it is one
OBJECTIVES. This Guidelines serves as a guidance for members or directors of a company to apply for a striking off procedure pursuant to section 550 of the Companies Act 2016 (CA 2016).
May 27, 2020 · Striking off is one of the processes available under the Companies Act 2016 for the dissolution of a company. When a company becomes dormant, and directors do not wish to continue incurring costs for its upkeep, striking off can be fast, straightforward and cost-effective.
Jun 18, 2024 · Striking off means officially dissolving a company without assets, outstanding liabilities, or active legal proceedings, and can happen for several reasons: Shareholders leaving, dying, or getting into disagreements. Company is dormant and shareholders don’t want to keep paying maintenance fees. Company has run out of funds to continue operating.
1. Strike Off a Sdn Bhd Company. Criteria. Section 551 of Companies Act 2016 grants the rights to the shareholders of the company to apply to SSM to strike off the company. This is provided that the following conditions are met:
Jun 19, 2024 · How to Strike Off a Company in Malaysia: The Procedures Involved. Several reasons could lead to shutting down or striking off a company such as the death of the owner or any major stakeholder in the company, dormancy, and inability of the company to bring in profit, among many others.
May 5, 2021 · A simple, cost-effective method to close down an Sdn Bhd or private limited company or business is to request that the Companies Commission of Malaysia (“CCM”) strike it off from the register pursuant to Section 550 of the Companies Act 2016 (the “Act”). This will effectively dissolve a company.
Striking off is one of the procedures available under the Companies Act 2016 (CA 2016) for a company to be dissolved. If the directors of the dormant company do not wish to continue their operation and no longer want to pay for its upkeep, striking off can be the fastest and best solution.
Application to Strike off Company. Section 550 of the Companies Act 2016 provides that the Registrar may strike a company off the register either on his own motion or upon an application by a director, member/shareholder or liquidator of the company.
