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Annual General Meeting – Venue Of The New Regime In Corporate Governance

March 13, 2018 @ 9:00 am - 1:00 pm

RM932.80

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Many changes have come into enforcement on 31st January 2017 with the introduction to the Companies Act, 2016 upon Royal assent being given on 31st August 2016 and the said Act was gazetted on 15th September 2016.

Among them, the decoupling of the annual general meeting and the lodgement of the audited financial statements for the year.

One significant move was the abolition of the need to convene an annual general meeting for private company limited by shares, the option on the need to have a Constitution (formerly being the Memorandum and Articles of Association) and the no par value regime for shares being issued.

As for public company limited by shares, there is still the compulsory requirement to convene an annual general meeting to lay the audited financial statements as before within the stipulated period of not more than six months from the financial year end, subject to any other regulations that may be imposed by Bursa or Securities Commission Malaysia.

Are there any peculiar issues still remaining as such or is there a new level playing field for the Board to take note of? These are some of the pertinent questions as to what are the provisions of the laws for the requirement for public companies to hold annual general meeting and the matters to be transacted at such meetings and the timeframe for the holding of annual general meetings.