Formation and Administration of Company Part 1 of 3

01eKTP 37

02Companies Act 2016 (“CA2016”) – Formation and Administration of Companies.

03
Incorporation of Companies

1. Allowing a company to exercise all functions of an incorporated company and full capacity to carry on any business i.e. company does not need any object clauses in order to carry on any business
2. Single director / member company
3. Simplify the name approval process
4. Simplify the incorporation process
5. Promoter to submit statement of of confirmation instead of statutory
   declaration for incorporation purposes
6. Certificates of incorporation, company seals and share certificate are optional
   

04Company contract and execution of documents

1. CA2016 also provides that a document shall be executed by a company by the affixation of common seal OR by signatures if a company has no common seal.
2. If a document is executed by signature, it shall be signed:

• By at least 2 authorised officers, one of whom shall be a director; or
• If a sole director company, by that director in the presence of a witnesswho attests the signatures.
  

05KTP current practice

Although the certificate of incorporation, company seals and share certificate is optional, it is our policy and practice to purchase the certificate of incorporation and company seal upon incorporation. Besides that, share certificates will be issued to the members when there’s any share movements in the company.