Section 133a Companies Act 1965

When corporations deemed to be related to each other 6a interests in shares.

Section 133a companies act 1965. Definition of subsidiary and holding company 5a. 1 notwithstanding anything contained in any other provision of this act an income tax authority may enter. Companies act 2016 except to the extent that such provisions are modified by the. Section 133a of the companies act 1965 companies act explicitly prohibits the provision of financial assistance to persons connected with the directors of a company including an associated company.

Throughout malaysia 15 april 1966 p u. A5 2 for a company limited by shares that chooses to have a constitution the company its directors and shareholders are bound by the rights powers duties and obligations stated under the. This new section requires directors to act in the best interest of the company during his duties while the old provision one did not specify to act in the interest of company. 12 power of survey 13.

Definition of ultimate holding company 5b. First reprint 1988 second reprint 1995 third reprint 2000. 1973 as act 125 w e f. Or b enter into any guarantee or provide any security in connection with a loan made to such person by any other person.

B any place occupied by any person in respect of whom he exercises jurisdiction 14 or. Definition of wholly owned subsidiary 6. Paragraph 8 23 of the bursa malaysia main market listing requirements mmlr on the other hand provides that except as otherwise provided under law and subject to certain pre conditions a public listed company or its non listed subsidiaries may provide financial assistance in the form of. Revised up to.

Act 125 companies act 1965 arrangement of sections part i preliminary section 1. A any place within the limits of the area assigned to him or. Please refer to the companies act 1965 for any new updates or amendments. However there is still a flaw in this act where the word best interest is not specifically defined in order to maintain flexibility.

Companies act 1965 revised 1973 part 5 companies 201 and that person within a period of five years after his conviction or if he is sentenced to imprisonment after his release from prison without theleaveofthecourtisadirectororpromoteroforisinanywaywhether directly or indirectly concerned or takes part in the management in malaysia of a corporation he shall be guilty of an offence against this act. 1 subject to the provisions of this section a company other than an exempt private company shall not a make a loan to any person connected with a director of the company or of its holding company. Companies act 1965 section 133. Companies act 1965 revised 1973 incorporating latest amendment act a1299 2007 first enacted.