Companies Act 1965
RE: GUIDELINES FOR THE APPLICATION TO STRIKE-OFF A NAME OF A DEFUNCT COMPANY UNDER SECTION 308(1) OF THE COMPANIES ACT 1965 DURING MORATORIUM PERIOD (3 MARCH – 30 JUNE 2011)
This guideline serves to inform the procedures and requirements for the application to strike off names of defunct companies under section 308(1) of the Companies Act 1965 (CA 1965) during moratorium period.
BACKGROUND 2. The Companies Commission of Malaysia (SSM) has on 11 January
2007 issued a set of guidelines for the application to strike off the name of a company pursuant to section 308 of the CA 1965. 3. The Minister of Domestic Trade Cooperatives and Consumerisms
has, on 3 March 2011, announced the waiver on compound or penalties imposed on directors of defunct companies to enable them to apply to the Registrar to strike their defunct companies off the register. 4. In pursuance to the announcement, the Management of SSM has
vide a Management meeting No. 4/2011 held on 10 March 2011, decided to relax the requirements for the application for striking off names of defunct companies under section 308(1) of the CA 1965.
1
5.
The effective date of the relaxation of the requirements for
application takes effect from 3 March to 30 June 2011 (hereinafter referred to as “moratorium period”).
WHO MAY APPLY? 6. The application may be made by either the director or shareholder
of a defunct company by filling up the Statement of Declaration by Applicant as per “Appendix 1”.
REQUIREMENTS FOR AN APPLICATION UNDER SECTION 308(1) DURING MORATORIUM PERIOD 7. The Registrar may exercise his discretion to strike off the name of
defunct companies if he is satisfied that the application fulfills the following requirements: (a) The company has no assets and liabilities at the time the application is made; (b) The company has no outstanding tax or other liabilities with any government department or agency; (c) The company has no outstanding charges in the Register of
This guideline serves to inform the procedures and requirements for the application to strike off names of defunct companies under section 308(1) of the Companies Act 1965 (CA 1965) during moratorium period.
BACKGROUND 2. The Companies Commission of Malaysia (SSM) has on 11 January
2007 issued a set of guidelines for the application to strike off the name of a company pursuant to section 308 of the CA 1965. 3. The Minister of Domestic Trade Cooperatives and Consumerisms
has, on 3 March 2011, announced the waiver on compound or penalties imposed on directors of defunct companies to enable them to apply to the Registrar to strike their defunct companies off the register. 4. In pursuance to the announcement, the Management of SSM has
vide a Management meeting No. 4/2011 held on 10 March 2011, decided to relax the requirements for the application for striking off names of defunct companies under section 308(1) of the CA 1965.
1
5.
The effective date of the relaxation of the requirements for
application takes effect from 3 March to 30 June 2011 (hereinafter referred to as “moratorium period”).
WHO MAY APPLY? 6. The application may be made by either the director or shareholder
of a defunct company by filling up the Statement of Declaration by Applicant as per “Appendix 1”.
REQUIREMENTS FOR AN APPLICATION UNDER SECTION 308(1) DURING MORATORIUM PERIOD 7. The Registrar may exercise his discretion to strike off the name of
defunct companies if he is satisfied that the application fulfills the following requirements: (a) The company has no assets and liabilities at the time the application is made; (b) The company has no outstanding tax or other liabilities with any government department or agency; (c) The company has no outstanding charges in the Register of