On 8 May 2023, the Corporate Compliance Division of Companies Commission of Malaysia (SSM) issued e-postcards creating awareness amongst the directors and company secretaries of the exempt private company (EPC) of the following:
E-Postcard 1 |
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1. |
Section 2 relating to the definition or conditions for a private company to qualify as EPC. |
2. |
Section 47(1)(h), (2) & (3) relating to the requirement to keep a copy of the company's financial statements at the registered office. |
3. |
Section 257(1) & (2) relating to the duty to circulate copies of Financial Statements and Reports. |
4. |
Section 260(1) & (2) relating to the duty to lodge an EPC certificate. |
5. |
Section 261(1) relating to lodgement of a statement signed by an auditor. |
E-Postcard 2 |
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1. |
Section 245(1), (2), (3) & (4) relating to the duty to cause appropriate entries to be made in the accounting and other records within 60 days of the completion of the transactions and to retain them for 7 years. |
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