The definition of the term Key Managerial Personnel is contained in Section 251 of the Companies Act 2013. Key managerial personnel in relation to a company means i the Chief Executive Officer or the managing director or the manager.
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The duties of directors stipulated in the Companies Act 2016 are not exhaustive and generally directors are imposed with statutory duties duty of care and fiduciary duties.
. In addition directors are also governed by a Directors Code of Ethics. Ii the company secretary. The only professional body in Malaysia that awards the Chartered Secretary FCISACIS qualification is the Malaysian Institute of Chartered Secretaries and Administrators MAICSA which is a division of the.
Under the CA 2016 a private company is required to have the following characteristics. The Companies Act 2016 CA 2016 repealed the Companies Act 1965 CA 1965 and changed the landscape of company law in Malaysia. Only an individual who satisfies the requirement in the Companies Act 2016 section 235 2 may be appointed a company secretary.
A director has onerous duties under the Companies Act 2016 as in common law. A company can also be classified as either a private or a public company. Iii the whole-time director.
The said Section states as under.
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