Can I reuse a company name after strike off from SSM?
Can I reuse a company name after strike off from SSM?
On 30 January 2023, Suruhanjaya Syarikat Malaysia (SSM) issued a guideline related to the application to Court to reinstate the name of the company under Section 555(1) of Companies Act (CA), 2016.
This guideline is useful to the public (especially Company Directors) who felt upset by SSM's decision to strike off their company under Section 549.
SSM Power To Strike Off
This section gives SSM the legal power to strike a company off in the registrar where the company:
(a) is not carrying on business or operation;
(b) has contravened any of this act;
(c ) is being used for unlawful purposes; and
(d) is being wound up.
This reinstatement is applicable within 7 years after the name has been struck off by SSM.
How does it work?
Application process according to
1) Order 88 rule 2 of the Rules of Court 2012; and
2) Section 555 of CA, 2016.
The proceeding shall be commenced by the applicant (ie Plaintiff) to file in court an originating summons (“Originating Summons”).
The Originating Summons needs to be supported by an Affidavit in Support (“Affidavit”) setting out the grounds and evidence in support of the application.
General Guidelines
The Guidelines about the application for reinstatement under Section 555 of CA 2016 are summarised below: -
1. The Defendant: SSM is to be named as the defendant in the application;
2. Contents of the Affidavit:
The Affidavit must include the following: -
a) Info on the directors of the Company;
b) Info on the shareholders;
c) Consent letter from the other directors;
d) Address of the registered office;
e) Ground of the application; and
f) Other necessary and relevant facts (for example Annual Return and Financial Statement to prove that the company is in existence and operation or bank transaction reflected in the bank statement or there is the existence of ownership of assets).
The orders sought from the Court must include:
a) The Plaintiff lodges the overdue statutory documents not submitted previously such as Financial Statements, Annual Return and other related documents if any;
b) The cost of the proceedings of RM2,000 be paid by the plaintiff within 30 days of the order made;
c) An order that the cost of the application is borne by the plaintiff.
As the result, SSM may oppose an application that does not fulfill the requirements and the court ultimately has the discretion of whether or not to allow an application for reinstatement under Section 555 of CA 2016 to have proceeded.
Visit Us
Wisma KTP, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
Wisma THK, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
KTP (Audit, Tax, Advisory)
An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients
Website www.ktp.com.my
Instagram https://bit.ly/3jZuZuI
Linkedin https://bit.ly/3sapf4l
Telegram http://bit.ly/3ptmlpn
THK (Secretarial, Bookkeeping, Payroll, Advisory)
A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients
Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs
KTP Lifestyle
An internal community for our colleagues on work and leisure.
Tiktok http://bit.ly/3u9LR6Q
Youtube http://bit.ly/3ppmjyE
Facebook http://bit.ly/3ateoMz
Instagram https://bit.ly/3jZpKLo
KTP Career
An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates.
Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o
This message was brought to you by KTP
Archive
- November 2024
- October 2024
- September 2024
- August 2024
- July 2024
- June 2024
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- November 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- November 2016
- October 2016
- September 2016
- August 2016
- July 2016
- June 2016
- May 2016
- April 2016
- March 2016
- February 2016
- January 2016