To Carry On The Business Of Distributors Companies in Malaysia
The Companies Act 2016 has introduced significant changes to the way in which companies are operated and governed in Malaysia. One of the key changes is the introduction of the concept of a "distributor".
A distributor is a company that is appointed by another company to sell or distribute its products in Malaysia. The appointment of a distributor is made through a written agreement between the two companies.
Under the Companies Act 2016, a distributor must comply with certain requirements, such as having a registered office in Malaysia, appointing a company secretary, and maintaining proper accounting records. In addition, a distributor must also comply with the code of conduct for distributors set out in the Companies Act 2016.
The code of conduct for distributors requires distributors to act fairly, honestly and in good faith in their dealings with their customers, suppliers and other business partners. Distributors must also avoid conflicts of interest and disclose any material interests that they have in any transaction.
The Companies Act 2016 also sets out the duties of directors of distributors. Directors of distributors must act in the best interests of the company and exercise due care, diligence and skill in the discharge of their duties. They must also avoid conflicts of interest and disclose any material interests that they have in any transaction.
The changes
A distributor is a company that is appointed by another company to sell or distribute its products in Malaysia. The appointment of a distributor is made through a written agreement between the two companies.
Under the Companies Act 2016, a distributor must comply with certain requirements, such as having a registered office in Malaysia, appointing a company secretary, and maintaining proper accounting records. In addition, a distributor must also comply with the code of conduct for distributors set out in the Companies Act 2016.
The code of conduct for distributors requires distributors to act fairly, honestly and in good faith in their dealings with their customers, suppliers and other business partners. Distributors must also avoid conflicts of interest and disclose any material interests that they have in any transaction.
The Companies Act 2016 also sets out the duties of directors of distributors. Directors of distributors must act in the best interests of the company and exercise due care, diligence and skill in the discharge of their duties. They must also avoid conflicts of interest and disclose any material interests that they have in any transaction.
The changes
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