Simple Articles of Organization are required when incorporating a new company in Malaysia under the Companies Act 2016. This foundational document must be filed with the Companies Commission of Malaysia (SSM) and serves as the company's constitution, establishing its basic framework and operational rules. The document is essential for both local and foreign-owned companies, detailing crucial information such as company name, registered office location, share capital structure, and governance procedures. It forms part of the company incorporation process and must comply with Malaysian corporate law requirements, including recent updates to the Companies Act 2016 which simplified certain aspects of company formation while maintaining necessary corporate governance standards.
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Key Requirements PROMPT example:
Simple Articles Of Organization
"I need Simple Articles of Organization for a new local Malaysian tech startup that I'm planning to incorporate in January 2025, with two founding shareholders having equal ownership and a basic single-class share structure."
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1. Company Name and Registration: States the official name of the company and its registration details
2. Registered Office: Specifies the location of the company's registered office in Malaysia
3. Objects and Powers: Describes the primary business activities and powers of the company
4. Share Capital: Details of the company's share capital structure, including types of shares and rights attached
5. Members' Liability: States whether members' liability is limited by shares or guarantee
6. Directors: Basic provisions regarding appointment, removal, and powers of directors
7. Meetings: Rules for conducting shareholders' meetings and voting procedures
8. Share Issuance and Transfer: Basic procedures for issuing and transferring shares
9. Company Secretary: Provisions regarding the appointment and duties of the company secretary
10. Common Seal: Provisions regarding the use and custody of the company seal
1. Pre-emptive Rights: Additional provisions for existing shareholders' rights to purchase new shares before they are offered to others
2. Board Committees: Structure and powers of specialized board committees for larger companies
3. Alternate Directors: Provisions for appointing alternate directors when needed
4. Dividend Policy: Specific rules for dividend declaration and distribution
5. Class Rights: Special provisions for different classes of shares if the company has multiple share classes
6. Foreign Ownership Provisions: Special provisions if the company has or plans to have foreign shareholders
7. Business Hour Restrictions: Specific provisions regarding business operating hours if required by nature of business
1. Schedule 1: Share Capital Structure: Detailed breakdown of share classes, rights, and initial shareholding
2. Schedule 2: Initial Directors: List of first directors and their details
3. Schedule 3: Initial Shareholders: List of initial shareholders and their shareholdings
4. Schedule 4: Reserved Matters: List of decisions requiring special approval
5. Appendix A: Company Address Details: Complete address and contact information for official communications
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