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Regulatory Framework (Malaysia) - Coggle Diagram
Regulatory Framework (Malaysia)
Companies Act 2016
Purpose of the Act
To create a legal and regulatory structure that will facilitate business.
Related Acts
Section 243: Interpretation
Section 244: Compliance with approved accounting standards
Section 245: Accounts to be kept
Section 246: System of internal control
Section 247: Accounting periods of companies within same group
Section 248: Directors shall prepare financial statements
Section 249: General requirements for financial statements
Section 250: Subsidiaries to be included in consolidated financial statements
Section 251: Financial statements to be approved by the Board
Section 252: Directors shall prepare directors' report
Section 254: Form and content of directors' report and financial statement of a banking corporation, etc.
Section 255: Relief from requirements as to form and content of financial statements and directors' report.
Section 256: Power of Registrar to require a statement of valuation of assets.
Section 257: Duty to circulate copies of financial statements and reports.
Section 258: Time allowed for sending out copies of financial statements and reports.
Section 259: Duty to lodge financial statements and reports with the Registrar.
Section 260: Duty to lodge certificate relating to exempt private company.
Section 261: Auditor's statements.
Capital Markets and Services Act 2007
Purpose of the Act
To regulate and to provide for matters relating to the activities, markets and intermediaries in the capital markets, and for matters consequential and incidental thereto.
Related Acts
Listing requirements under Bursa Malaysia.
Securities Commission
Responsible in supervising market activities under CMSA 2007.
Financial Reporting Acts
Purpose of the Act
To track, analyse and report your business income.
Related Acts
Section 26A: Other issuing bodies.
Section 26B: Standards for foreign companies.
Section 26C: Standards for persons other than foreign companies.
Section 6D: Compliance with approved accounting standards.
Accoutants Act
Purpose of the Act
To provide for the registration of accountants and matters connected with it.
Related Acts
Accountant Act 1967 Act 94
Penal Code
Purpose of the Act
Is a law that codifies most criminal offences and procedures in Malaysia.
Related Acts
Section 130A(d)(d): banking and financial services.
Section 130B(3)(h): An act or threat of action falls within banking and financial services.
Sectuib 130O: Providing services for terrorist purposes.
Section 130Q: Dealing with terrorist property.