question archive You are working in a secretarial firm
You are working in a secretarial firm
Subject:EconomicsPrice:2.87 Bought7
You are working in a secretarial firm. One of your clients, Jessica intends to set up a private
limited company under Companies Act 2016. Jessica would like to seek your advice whether or not the
company shall adopt a company’s constitution.
Jessica has provided you with the following information:
• The company is a joint venture company with two shareholders, Ali Sdn. Bhd. and
Grow Sdn. Bhd.
• Ali Sdn. Bhd. will hold 49% shares whereas Grow Sdn. Bhd. will hold 51% shares in
the company.
Advise Jessica accordingly.
The company should adopt a company constitution
Three (3) reasons based on section(s) in the Companies Act 2016 to support your advice.
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Answer:
As per Section 5 of the Companies Act, 2016 A Company Shall Adopt Article of Association stating the rules and regulation of the company.
Schedule 1 of the Companies Act Provide 5 Tables for Article Of Association From Table F to Table J
While Registration of a Company Company Has to File it's Articles In the Form INC 33
Thus, Jessica is advised to consitute Articles of Association the Private Limited Company.
