If you are planning to do company incorporation in Malaysia, one of the conditions you will have to meet is to have a company secretary. The company secretary is a crucial position in a company and fulfills many of the roles demanded by the new Malaysian Company Act of 2016.
The company secretary is concerned with different issues of the law concerning company governance. These include tax compliance and any other laws that come up within the sphere of company matters. When establishing a company in Malaysia, the company secretary is the person responsible for ensuring that all incorporation documents and requirements are properly met.
Hiring Requirements for a Company Secretary
The requirements for a Malaysia company secretary are set out by the Companies Act 2016. These include:
- A human person of at least 18 years of age and with his principal or only place of residence in Malaysia
- The individual should not be in a bankrupt situation or a convict of any
- He or she should be aware of the Memorandum and Articles of Association of the company.
- The company secretary should have deep knowledge and understanding of Malaysian company securities laws and regulations.
- He or she should ensure correct procedures are followed and adhere to it in accordance with the Malaysian Companies Act 2016
- The company secretary should have an understanding of “The Company Secretary’s Code of Ethics” issued by the Companies Commission of Malaysia
- A member a professional body approved by the Ministry, or a licensed secretary granted by the SSM Malaysia (Companies Commission of Malaysia, CCM) pursuant the Companies Act.
The bodies approved by the CCM as adequate to producing qualified company secretaries include:
- The Malaysian Association of The Institute of Chartered Secretaries and Administrators (MAICSA)
- Malaysian Association of Company Secretaries (MACS)
- The Malaysian law Bar
- The Malaysian Institute of Accountants (MIA)
- Malaysian Association of Certified Public Accountants (MACPA)
- The Sabah Law Association
- The Advocates’ Association of Sarawak