Penalty/Fine in Malaysia for the Loss of Secretarial File, Secretarial File Get Burned or Stolen
What happen if your secretarial file got burned or stolen? Loss of secretarial file is definitely something that caused you great pain.
Under the Companies Act 1965,
S156: Failure to have minutes of proceeding entered into the minute’s book. Penalty RM2,000 and default penalty.
S157: Inspection of minutes books at registered office, if unable to furnish copies, penalty RM500 and default penalty.
S158-S160: Safe keep of register of members. Penalty ranging from RM500 to RM2,000 and default penalty.
Meanwhile, under the new Companies Act 2016, which is expected to be gazetted soon, the penalty for the similar provisions above range from RM10,000 (default penalty of RM5,000 each day) to RM500,000 for certain sections or imprisonment less than 5 years or both. Generally, under the new Companies Act 2016, the penalty can easily reach RM500,000 for default in each provision of the Act.
Therefore, security of secretarial file is very important. Compared to shop houses based or home based secretary, 3E Accounting provides the best hardcopy and softcopy protection in Malaysia office. All secretarial files hardcopies will be scanned and later will safeguard the backup, both offsite and onsite.
3E Accounting Office Lobby
Home based Office
Shop houses based office
The use of 3E’s office premise as your company’s Registered Address is for fulfilment of statutory requirements under the Companies Act whereby all the statutory records shall be kept and accessible to the public. Hence, it is common practice that the registered address shall be the Company Secretary’s office address. Please note that the provision of registered address is already included as part of our company secretarial package.
As a leading service provider, we believe that we will be your best support in your business. For more information about our secretarial services, please do not hesitate to contact us today at [email protected].
