Scenario
Samy, as a company secretary of a private company, is preparing for the issuance of notice of Annual General Meeting (AGM) for the said company. In his usual practice, the company shall hold AGM every year and with the new Companies Act 2016, there is no changes to such requirement.
Is that true?
Mythbusted.
The entire Companies Act 2016 has came into force on 31st January 2017; save for Section 241 (ie. requirement of company secretary to register with Registrar) and Division 8 of Part III (ie. Corporate Rescue Mechanism) which have yet to be effective. The new law provides that there will be no need for private companies to hold for AGM and all decisions can be made via circular resolutions.
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