CCM offers two-week moratorium on late submission fees due to MCO

The fee exemption is offered following the extension of the MCO to April 14 due to the Covid-19 outbreak. — Reuters pic
The fee exemption is offered following the extension of the MCO to April 14 due to the Covid-19 outbreak. — Reuters pic

KUALA LUMPUR, March 27 — The Companies Commission of Malaysia (CCM) is offering a two-week moratorium on late submission fees for all transactions under the Companies Act 2016, Registration of Businesses Act 956 and Limited Liability Partnerships Act 2012.

In a statement, CCM said all transactions under these Acts should be submitted to the Registrar after the end of the movement control order (MCO) period.

“The two-week moratorium after the end of the MCO period is to enable applications or submissions to be made, and during the moratorium, the late submission fee is waived,” it said.

The fee exemption is offered following the extension of the MCO to April 14 due to the Covid-19 outbreak.

Meanwhile, CCM said companies wishing to delay their annual general meeting to a date later than six months after the end of their financial year may submit their application after the end of the MCO period.

CCM is also extending the period for company secretaries to fulfil the 20 Continuing Professional Education (CPE) points requirement under Section 241 of the Companies Act 2016.

The CPE points, obtained from attendance at courses or seminars related to the secretarial profession, are a mandatory requirement for licensed company secretaries.

CCM said it is constantly monitoring the latest developments on the Covid-19 outbreak issued by the government and will inform the relevant public authorities about matters related to CCM.

“CCM will resume normal operations after the end of the MCO period subject to the latest directive from the government,” it added. — Bernama

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