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Beneficial Owner

What you need to know?

Effective April 2024, new Section 60A to Section 60E of Companies Act 2016 ("the Act") requires the Company (i.e. Board of Directors, Shareholders and company secretaries) to do something. Do I have to worry ?

Nothing to worry for most shareholders, just paperwork to comply with the Act.

What to do next ?

Company secretary will send Notice to shareholders. Just reply accordingly will do.


What if "holding shares" on behalf of someone else?

According to Section 60C ... you have to reply, but if you provide false information.... the penalty is very heavy.

More to read in Telegram https://t.me/BeneficialOwnerSSM

About the law in SSM Website: Pages - Companies-Act-2024 (ssm.com.my)


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