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Status of Application to Strike-off a Company Under S308 of Companies Act 1965 / Under S550 of Companies Act 2016. Registration Type.
The Strike-Off option is a quick and simple solution when a corporation is no longer active and directors no longer want to pay for its upkeep.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 of the most cost-effective ways of closing down a company under this extremely challenging time for many businesses in Malaysia.
SECTION 549 – COMPANIES ACT 2016 – POWER OF REGISTRAR TO STRIVE OFF COMPANY. Notwithstanding any provision of this Act, the Registrar may strike a company off the register, if-. (a) the Company is not carrying on business or is not in operation; (b) the company has contravened this Act;
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).
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.
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.
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.
to strike the name of a company off the Register if he has reasonable cause to believe that the company is not carrying on business or the company is not in operation.
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.
It is an offence under section 591 of the Companies Act 2016 to make or authorize the making of a statement that a person knows is false or misleading and that person may be liable, upon conviction, to imprisonment for. a term not exceeding ten years or to a fine not exceeding RM3million or to both. LODGER INFORMATION. Name : NRIC No :
