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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
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).
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 The Strike-Off option is a quick and simple solution when a corporation is no longer active and directors no longer want to pay for its upkeep.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
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.
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.
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.
Striking Off. Pursuant to Section 550, subject to Section 549, Registrar may remove a company from the register either on his own motion or on the application of a Director, Member or Liquidator of the company. The company can be strike off if: i) The company does not carry on business or does not operate;
Feb 4, 2016 · The winding up of a company is the process of bringing an end to a company. The company’s assets are sold off and then used to pay off the company’s debts. Any excess proceeds are then returned to the shareholders of the company. Here, I will give a brief overview of winding up law in Malaysia.
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.
