138 Notice of increase of share capital

Notice of increase of share capital

If a company has increased its share capital beyond the registered capital, it must, within fourteen days after the passing of the resolution, authorising the increase, lodge with the Registrar a notice of the increase as provided in Section 62(4) Companies Act 1965.

If any company fails to comply with subsection (4), the company and every officer of the company who is in default shall be guilty of an offence against this Act, as provided in Section 62(5) Companies Act 1965.

The default penalty for an offence against this section is one thousand ringgit.


BCS 202/05 Corporate Compliance Management Copyright © 2011 by Wawasan Open University. All Rights Reserved.


Comments are closed.