April 10, 2010

COMPANY LAW IN MALAYSIA

BASIC INFORMATION

A company must have a minimum of two directors, being natural persons of full age and having their principal or only place of residence in Malaysia and not under bankruptcy .Directors need not be shareholders of the company.The duties of directors stipulated in the Companies Act are not exhaustive and generally directors are imposed with statutory duties, duty of care and fiduciary duties. In addition, directors are also governed by a Code of Ethics.
A register of directors is kept at the registered office of the company and is available for public inspection.

(1) Every company shall have at least two directors, who each has his principal or only place of residence within Malaysia.
(1A) In subsection (1), "director" shall not include an alternate or substitute director.
(2) No person other than a natural person of full age shall be a director of a company.
(3) The first directors of a company shall be named in the memorandum or articles of the company.

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