Are you aware of Section 593 of the Companies Act 2016 (“Act”)?
Section 593 is about making of False Report or Statement to the Registrar (SSM).
Making false statement to SSM is a serious offence. Section 593 of the Companies Act 2016 states that:
“A person who makes or furnishes, or knowingly authorises or permits the making or furnishing of, any false or misleading statement, information or report to the Registrar relating to:
- The affairs of a corporation;
- Any matter or thing required by the Registrar for the implementation of this Act; or
- The enforcement of this Act,
Commits an offence and shall, on conviction, be liable to imprisonment for a term not exceeding ten (10) years or to a fine not exceeding RM3,000,000 or to both.”
Thinking of making a false statement to the Registrar? Think again.
In this regard, it is important that a person should make every effort to make sure the information he/she gives to the Registrar is not false or misleading.
The stakeholders of a company would rely on the information stored by the Registrar under the requirements of the Act to facilitate decision makings.
The heavy punishment imposed indicates the seriousness of the offence and the effort by the Registrar in curbing such wrongdoings to uphold the credibility and integrity of companies’ information stored by the Registrar.
SSM taking action against person making false statement
You may read the news on SSM charging directors of the company for making false statements here.
How can Bizboard help?
Bizboard has a team of qualified and licensed company secretaries as required in the Companies Act 2016 and the Companies Commission of Malaysia.
Our highly qualified team has worked throughout various industries and has extensive knowledge to assist the company in secretarial matters.
For more information contact us.
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