Understanding the Legal Landscape: Are Company Secretaries in Malaysia at Risk of Court Charges?
Understanding the Legal Landscape: Are Company Secretaries in Malaysia at Risk of Court Charges? As a company secretary in Malaysia, you play a critical role in ensuring your organization’s compliance with legal and regulatory requirements. The Role of a Company Secretary in Malaysia Under the Companies Act 2016, a company secretary is responsible for: - Ensuring statutory compliance (e.g., filing annual returns, maintaining registers). - Advising directors on legal obligations. - Acting as the liaison between the company and regulatory bodies. Failure to fulfill these duties can expose the secretary to legal risks, though direct charges are rare if duties are performed diligently. Legal Risks for Company Secretaries 1. Non-Compliance with Statutory Requirements - Example: Failing to file annual returns or maintain proper records. - Consequence: The secretary could face penalties if the com...