WorksheetsCompany Law
Total questions: 21
Worksheet time: 21mins
Who is the regulator or administrator of companies in Malaysia?
Securities Commission
Companies Commission of Malaysia
Bursa Malaysia Securities Berhad
Industrial Court
Which one is business?
Sole-proprietor
Public Company
Partnership
Private Company
What is the maximum number of people allowed in a general partnership?
2
10
15
20
Can a Public Company convert to Private Company?
Yes
No
Under which section of the Companies Act 2016 is the concept of separate legal entity defined?
S. 21 of the Companies Act 2016
S. 435 of the Companies Act 2016
S. 40 of the Companies Act 2016
S. 20 of the Companies Act 2016
What is the doctrine of separate legal entity?
The debts of the company to be borne by the director of the company
It is the principle that a company is legally not separate from its owners, directors, and shareholders
It is the principle that a company is legally separate from its owners, directors, and shareholders
If the company wound up, the directors and members of the company would not be affected
Which landmark case established the doctrine of separate legal entity
Re Application by Yee Yut Ee
Salomon v Salomon & Co Ltd
Lee v Lee’s Air Farming
Foss v Harbottle
The interpretation of the "Director" under which provision of the Companies Act 2016
S.7
S.2
S. 10
S. 217
Who is responsible for overseeing a company’s activities and strategic direction?
Director
The Board of Director
Members
Stakeholder
What is the role of the Chairperson according to Section 329 CA 2016?
To manage the company's financial reports
Play, eat and sleep well
To manage the company
To exercise procedural control over directors’ meetings.
How is a shadow director defined?
A shadow director is someone who is not officially appointed but whose directions or instructions the majority of directors usually follow.
The shadow director is elected by the government
The shadow director is not a director
The shadow director only work during night shift
What kind of company?
Berhad.
Sdn. Bhd.
Private Company
Public Company
Difference between the Public Company and Private Company
the number of members
Sdn. Bhd. & Bhd.
Jurisdiction
Legislation
What steps must be taken for a private company to convert to a public company?
File a civil suit to the Court and let the Court make her discretion
Held a general meeting
Pass a special resolution and lodge a notice for conversion with the Registrar (SSM)
Not need to do anything, and proceed tje conversion without members' knowledge
What is Director's main duty?
Fiduciary Duty
Statutory Duty
Reasonable care, skill & diligence
Name three keys statutory duties a director owes to the company.
(a)
According to Section 213(1) of the Companies Act 2016, how must directors act?
To require directors to disclose any conflict of interest they have in proposed company transactions or arrangements.
The director must abstain from voting on any matter in which they have a conflict of interest.
They must act for a proper purpose and in good faith in the best interests of the company.
Directors must avoid conflicts of personal interest when making business judgments.
What is the maximum number of shareholders allowed in a private company in Malaysia?
2
Unlimited
100
50
List three rights or powers members have in a company.
(a)
Who is Stakeholder?
Customer
Government
Shareholder
Employers
What kind of business/company
Public company
Private company
Franchise
Partnership
