Companies Act 2016 - Financial Statements and Reports

Duty to lodge financial statements and reports with the Registrar

Section 259(1) - A company shall lodge with the Registrar for each financial year the financial statements and reports required under this Act:-

(a)   in the case of a private company, within thirty (30) days from the financial statements and reports are circulated to its members under Section 258;

(b)   in the case of a public company, within thirty days from its annual general meeting; and


Time allowed for sending out copies of financial statements and reports

Section 258(1) - The circulation of financial statements and reports:-
(a)   for a private company, shall be within six (6) months of its financial year end; and
(b)   for a public company, shall be at least twenty-one (21) days before the date of its annual general meeting.


Offence & Penalty

Section 258(3) - The company and every officer who contravene this section commits an offence and shall, on conviction, be liable to a fine not exceeding fifty thousand (50,000) ringgit and, in the case of a continuing offence, to a further fine not exceeding one thousand (1,000) ringgit for each day during which the offence continues after conviction.

Section 259(3) - Every officer who contravenes this section commits an offence and shall, on conviction, be liable to a fine not exceeding fifty thousand (50,000) ringgit and, in the case of a continuing offence, to a further fine not exceeding five hundred (500) ringgit for each day during which the offence continues after conviction.



Disclaimer:-

This guide includes information obtained or derived from a variety of publicly available sources. I have not sought to establish the reliability of these sources or verified such information. All such information is provided "as is" and I do not give any representation or warranty of any kind (whether expressed or implied) about the suitability, reliability, timeliness, completeness and accuracy of this publication. This publication is for general guidance only and shot not be construed as professional advice. Accordingly it is not intended to form the basis of any decision and you are advised to seek specific professional advice on any transaction or matter that may be affected by this publication before making any decision or taking an actions.