Winding Up Rules Malaysia Pdf

The official receiver malaysia i c no.

Winding up rules malaysia pdf. This guidance note has been approved by the council of the macpa for issue by the insolvency practice committee to members for guidance in connection with members voluntary winding up of companies registered in malaysia under the provisions of the companies act 1965. Company may have duplicate common seal 102. 211 of the companies act 1965 there are two types of winding up ie by the court and voluntarily. 10 companies winding up rules 10 1 the winding up rules 1972 was made under the old ca65 and the courts of judicature act 1964.

10 3 and since the 1972 rules was made by the same committee unless it is repealed. 10 2 by virtue of s616 of the ca16 it refers to the rules committee constituted under the courts of judicature act 1964. Winding up winding up is also known as liquidation when a company cannot pay its debt and when it falls due a company is insolvent. Power to exempt from compliance with division and non application of division in certain circumstances 97.

Office address of official receiver 10 cm 15 cm. Liability of trustees division 6 title and transfeers 98. Procedure for winding up by the court is provided under section 218 1 a n companies act 1965. Leave it blank address.

The rules which are applicable for creditors voluntary winding up and court winding up may be used as reference for similar situations in members voluntary winding up where the act is silent. Nature of shares 99. Certificate to be evidence of title 101. The process is initiated by the company itself through its directors and shareholders in deciding that the company should be wound up.

3 insert date of the winding up order. A 289 1972 companies winding up rules 1972 p u. Company itself starts the winding up the first form of winding up is known as a voluntary winding up. A 289 1972 in exercise of the powers conferred by section 372 of the companies act 1965 act 125 and section 16 of.

D a letter of licence authorizing the debtor or any other person to manage carry on realize or dispose of a business with a view to the payment of debts. Members voluntary winding up foreword 1. I 211 216 preliminary on winding up 3 254 276 voluntary winding up 4 277 313 every mode of winding up 3. Winding up is a process in which the existence of a company is brought to an end where assets of a company are collected and realised.

4 if the official receiver malaysia is appointed as interim liquidator or liquidator complete as follows. Winding up or carrying on a business. Numbering of shares 100. And e any agreement or instrument entered into for the purpose of carrying on or winding up the debtor s business or.