SECTION 56 CA 2016
Company requires every member to disclose BO effective 1 March 2020.
Only those holding 20% interest or more or those who control the entity require to disclose.
EXEMPTION FROM REPORTING
- Financial Institution
- Public Listed Companies
- Public Un-Listed Companies where shares are still in central depository
- Securities Commission licensed Companies
TIMELINE TO SUBMIT
For Existing Company: Within 14 days from the date of reply slip.
For Newly Incorporated Company: Within 30 days after the date of appointment of company secretary