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Malaysian Corporate Law Reform Programme  print
The Malaysian Corporate Law Reform Programme was officially launched by the Companies Commission of Malaysia (CCM) on 1 September 2004. In line with this programme, the Corporate Law Reform Committee (CLRC) was established by CCM to undertake a comprehensive review of the Companies Act, 1965 ("the Act") to reflect the current and future needs of the business environment.

Under the CLRC ("the Steering Committee"), the following four (4) working groups have been formed to review specific areas of the Act and submit their reports and draft proposals to the Steering Committee:
a. Working Group A: Company’s Formation, Private Companies and Alternative Forms of Business Vehicles
b. Working Group B: Capital Raising & Capital Maintenance Rules
c. Working Group C: Corporate Governance & Shareholders’ Rights
d. Working Group D: Corporate Securities & Insolvency
To ensure a wide based consultation process, the Steering Committee may use the following consultation methods:
i. consultation at preliminary stages on specific issues as well as on the documents containing the draft proposals;
ii. informal consultation via restricted circulation of documents; and
iii. public consultation through the publication of consultation papers and exposure drafts of proposed legislative text.
The Institute will place consultation papers released by the Steering Committee for public consultation on the MAICSA website. Members are encouraged to respond with their comments on the consultation paper by e-mailing their comments to technical@maicsa.org.my.

Additionally, members may also submit general issues relating to the Companies Act 1965, in line with the Corporate Law Reform Programme, to the aforesaid e-mail address. These issues will be noted and highlighted to the Steering Committee where appropriate.
Consultative Documents
No. Consultative Documents MAICSA’s Comments
1. Strategic Framework CD 1 comments
2. Capital Maintenance Rules and Share Capital: Simplifying and Streamlining Provisions Applicable to Shares CD 2 comments
3. Engagement with Shareholders CD 3 comments
4. Company Liquidation - Reforms and Restatement of the Law CD 4 comments
5. Clarifying and Reformulating the Directors' Role and Duties CD 5 comments
6. Members' Rights and Remedies CD 6 comments
7. Creating a Conducive Legal and Regulatory Framework for Businesses CD 7 comments
8. Capital Maintenance Rules and Share Capital:Simplifying and Streamlining Provisions Applicable to the Reduction of Capital,Share Buy Back and Financial Assistance CD 8 comments
9. Review of Provisions Regulating Substantial Property Transactions, Disclosure Obligations and Loans to Directors CD 9 comments
10. (1) Reviewing the Corporate Insolvency Regime - The Proposal for a Corporate Rehabilitation Framework: (2) Reviewing the Company Receivership Process : and (3) Company Charges and Registration Process -Improvements to the Present Registration System CD 10 comments
11. Review of Criminal, Civil and Administrative Sanctions in the Companies Act 1965 CD 11 comments
12. Auditors' Roles and Responsibilities CD 12 comments
13. Limited Liability Partnership in Malaysia CD 13 comments
14. Review of the Companies Act 1965 - Final Report CD 14 comments
15. Limited Liability Partnership Bill (discussion draft) Comment No. 1
    Comment No. 2
    Comment No. 3