Electronic or otherwise ....
If you search #Companies_Act_2016 with this keyword "Electronic", you will find 38 results and "Electronic or otherwise", you will find 2 results.
Section 49 #CA2016 allows documents and records (required in Section 47) in the form of Electronic so it is 'easily accessible and reproduced'.
Fine not exceeding RM500,000 or imprisonment for a term not exceeding 5 years or to both.
So, what are the Documents and Records referred to in Section 47?
Section 47 #CA2016
Documents to be kept at the Registered Office (#RO)
a) Notice of Registration issued under Section 15;
b) the Constitution of the Company, if any;
c) Certificates given under CA2016 or corresponding previous written law, if any;
d) All registers, books, records and documents as required by #CA2016;
e) Minutes of all meetings of members and resolutions of members;
f) Minutes of all meetings and resolutions of the Board and committees of the Board;
g) copies of all written communications to all members or all holders of the same class of shares;
h) copies of all financial statements and group financial statement;
i) the accounting records of the company required under Section 245 #CA2016;
j) copies of all instruments creating or evidencing charges as required under Section 357 #CA2016; and
k) such other documents required to be kept by the Registrar (i.e SSM).
Non compliance to Section 47 CA2016?
The company and every officer who contravene this section commit an offence and shall, on conviction, be liable to a fine not exceeding ten thousand ringgit and, in the case of a continuing offence, to a further fine not exceeding five hundred ringgit for each day during which the offence continues after conviction.
On this topic of ELECTRONIC, the Signature can be Electronic??
Electronic Commerce Act 2006 (Act 658) provides a definition for SIGNATURE in the form of an electronic message or electronic signature ...
Section 9 of the ECA 2006 provides a clear but not so easy to understand definition of how and when a e-Signature is acceptable under the law.
In Budget 2020, the Harapan-led government wish to transfer the economy with DIGITAL and perhaps the E-Signature will make all business transactions faster and more relevant in today's world.