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INTRODUCTION TO COMPANY LAW : - Coggle Diagram
INTRODUCTION TO COMPANY LAW
:
THE LAW
Passed by Dewan Rakyat on 4 April 2016
Passed by Dewan Negara on 28 April 2016
Gazetted on 15 September 2016
Implementation: 31 January 2017
THE STATUTORY BODY
Suruhanjaya Syarikat Malaysia (SSM)
/ Companies Commission of Malaysia
An agency to incorporate and register businesses as well as to provide company and business information to public
LEGAL NATURE
Separate legal entity
CLASSIFICATION OF COMPANY
Public
Limited
By shares
own by shareholders and members
shareholders enjoy limited liability
shareholders receive a share of business profits
By guarantee
no shares or shareholders
must guarantee a fixed sum of money to the compay
Unlimited
Private
Unlimited
Limited
By shares
Restrict the right to transfer its shares
Limits the number of members to not more than 50
Prohibits any invitation to the public to subscribe for any shares