52 Section 401(2) provides that every person who Replace with in Correct typographical “accession” “omission” wilfully makes or authorises the making of a section 401(2) as the word is error. statement false or misleading in any material inconsistent in context of the provision. particular knowing it to be false or misleading or wilfully omits or authorises the accession of any matter or thing without which the document is misleading in a material respect shall be guilty of an offence. Penalty for holding out as carrying on business 53 Section 405(1) provides that if any person uses Repeal and re-enact section 405(1). Companies are unlikely to any name or title or trades or carries on business have the words “company”, under any name or title of which Remove references to or “Limited”, “company”, “corporation” or or at the end of “Berhad”, “Company”, “Corporation” “corporation” “incorporated”. “incorporated” or any abbreviation, imitation or their names, unless they are “Incorporated” translation of any of those words is the final exempted under section 29. word, or in any way holds out that the business As such, the blanket is registered or incorporated that person shall, prohibition on the use of unless at that time the business was duly these words is removed. under this Act or registered under Remove references to Limited Liability Clarify that provision the Limited Liability Partnerships Act or the Partnerships Act and Business relates to companies Business Registration Act, be guilty of an Registration Act. the Act. offence. Exclude application of the provision to For clarity. foreign companies. Introduce a separate prohibition in relation to foreign companies under the new subsection (3). Composition of offences
52 Section 401(2) provides that every person who wilfully makes or authorises the making of a statement false or misleading in any material particular knowing it to be false or misleading or wilfully omits or authorises the accession of any matter or thing without which the document is misleading in a material respect shall be guilty of an offence. Replace “accession” with “omission” in section 401(2) as the word is inconsistent in context of the provision. Correct typographical error. Penalty for holding out as carrying on business 53 Section 405(1) provides that if any person uses any name or title or trades or carries on business under any name or title of which “Limited”, “Berhad”, “Company”, “Corporation” or “Incorporated” or any abbreviation, imitation or translation of any of those words is the final word, or in any way holds out that the business is registered or incorporated that person shall, unless at that time the business was duly under this Act or registered under the Limited Liability Partnerships Act or the Business Registration Act, be guilty of an offence. Repeal and re-enact section 405(1). Remove references to “company”, “corporation” or “incorporated”. Companies are unlikely to have the words “company”, “corporation” or “incorporated” at the end of their names, unless they are exempted under section 29. As such, the blanket prohibition on the use of these words is removed. Remove references to Limited Liability Partnerships Act and Business Registration Act. Clarify that provision relates to companies the Act. Exclude application of the provision to foreign companies. Introduce a separate prohibition in relation to foreign companies under the new subsection (3). For clarity. Composition of offences
AnnexC_COACT2.docx