SSM Annual Dialogue 2022: Changes to the Particulars of Directors and Managers and Secretaries

Following the recent Annual Dialogue 2022 conducted by Suruhanjaya Syarikat Malaysia (SSM) on 6 October 2022, SSM provided the presentation slides and Summary of Issues and Feedback for the public.

"Changes to the Particulars of Directors and Managers and Secretaries" is one of the issues that have been addressed.

The current information that has changed is the only thing that is displayed in the notice of the change in the register of directors, managers, and secretaries that is required by Section 58 of the Companies Act 2016; it does not provide a summary of all company officers in one document like Form 49 did under the Companies Act 1965.

Proposal:

• Develop a single form that will show every resignation, the appointment of new officers, and the most up-to-date list of all company officers.

• The notice shall display all of the information on the company's officials.

Feedback:

Companies are required to inform the Registrar of any changes to the information of their company officers under Section 58 of the Companies Act of 2016. There is not necessary to reiterate the details of unchanged information.

Section 58 updates submitted via an online platform (the MyCoID system) are considered "auto-registered" following the company's notice; historical information is still stored in the SSM database when an update is made.

Hence, third parties can obtain information regarding changes in company officers through the following channels:

1. Either through the e-Info and MyData portals by obtaining the product of "Particulars of Director/Officer" to know the details of appointment history, resignation, and dismissal of company officers; or

2. Either through inspection of the company register at the company's registered office under the following sections of the Companies Act 2016:-

   1. section 55 - Inspection and closing of register of members and index; and

   2. section 57 - Register of directors, managers and secretaries.