Section 241 of the Companies Act 2016 (CA) came into force on the 15 March 2019. What it entails is this: Any person who is already a company secretary or any person who is qualified to act as a secretary must now register with the Registrar of the Companies before he can act as a secretary1.
The Companies Commission of Malaysia (CCM) even issued a guideline2 to ensure that matters that are incidental to Section 241 is clarified. Without further delay, below are some of the important details that a practising company secretary/ person interested to become a company secretary needs to know in regards to this issue:
|Who should read up on this||Any person who is qualified and interested to become a company secretary after the enforcement of Section 241 of the CA or Any company secretary who wishes to renew their practising certificate after the enforcement of Section 241 of the CA.|
|Qualification for a citizen/ permanent resident of Malaysia3||
|Qualification for non-citizen/non-permanent resident of Malaysia6||
|How to renew?||Via https://esecretary.ssm.com.my/. In this regard:
|The validity of the practising certificate9||3 years|
|What amounts to “fit and proper”10?||
|What is the deadline for existing practitioners to renew their practising certificate?||12 months from the enforcement date.|
|What happens if an existing practitioner fails to renew their practising certificate12?||The Registrar will cancel the applicant’s practising certificate. If this were to happen, the secretary will have to submit a new application and he will be treated as though he has never applied for a practising certificate.|
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1. Section 241 (1), Companies Act 2016.
2. Guidelines Relating To Practising Certificate For Secretaries Under Section 241 Of The Companies Act 2016. https://www.ssm.com.my/Pages/Legal_Framework/Document/GUIDELINE%20FOR%20REGISTRATION%20TO%20ACT%20AS%20SECRETARY%20UNDER%20S%20241%20AS2016_FINAL.pdf.
3. Section 235, Companies Act 2016.
4. Paragraph 8 of the Guidelines Relating To Practising Certificate For Secretaries Under Section 241 Of The Companies Act 2016. https://www.ssm.com.my/Pages/Legal_Framework/Document/GUIDELINE%20FOR%20REGISTRATION%20TO%20ACT%20AS%20SECRETARY%20UNDER%20S%20241%20AS2016_FINAL.pdf.
6. Paragraph 6, Ibid.
7. Paragraph 11, Ibid.
8. Paragraph 34 and 35, Ibid.
9. Paragraph 16, Ibid.
10. Paragraph 11, Ibid.
11. Paragraph 35, Ibid.
12. Paragraph 15, Ibid.