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ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART VI - ACCOUNTS AND AUDIT
DIVISION 1 - ACCOUNTS
Section 167. Accounts to be kept.
(1) Every company and the directors and managers thereof shall cause to be kept such accounting and
other records as will sufficiently explain the transactions and financial position of the company and enable
true and fair profit and loss accounts and balance sheets and any documents required to be attached
thereto to be prepared from time to time, and shall cause those records to be kept in such manner as to
enable them to be conveniently and properly audited.
(1A) Every company and the directors and managers thereof shall cause appropriate entries to be made
in the accounting and other records within sixty days of the completion of the transactions to which they
relate.
(2) The company shall retain the records referred to in subsection (1) for seven years after the completion
of the transactions or operations to which they respectively relate.
(3) The records referred to in subsection (1) shall be kept at the registered office of the company or at
such other place in Malaysia as the directors think fit and shall at all times be open to inspection by the
directors.
(4) Notwithstanding the provisions in subsection (3), the accounting and other records of operations
outside Malaysia may be kept by the company at a place outside Malaysia and there shall be sent to and
kept at a place in Malaysia and be at all times open to inspection by the directors, such statements and
returns with respect to the business dealt with in the records so kept as will enable to be prepared true
and fair profit and loss accounts and balance sheets and any documents required to be attached thereto.
(5) If any accounting and other records are kept at a place outside Malaysia pursuant to subsection (4),
the company shall, if required by the Registrar to produce those records at a place in Malaysia, comply
with the requirements.
(6) The Court may in any particular case order that the accounting and other records of a company be
open to inspection by an approved company auditor acting for a director, but only upon an undertaking in
writing given to the Court that information acquired by the auditor during his inspection shall not be
disclosed by him except to that director.
(7) If default is made in complying with this section the company and every officer of the company who is
in default shall be guilty of an offence against this Act. Penalty: Imprisonment of *six months or five
thousand ringgit or both.
ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART II - ADMINISTRATION OF ACT
Section 11A. Electronic filing of documents.
(1) The Registrar may provide a service for the electronic filing or lodging of documents required by this
Act to be filed or lodged with the Registrar.
(2) A person who intends to use the service provided under subsection (1) shall become a subscriber to
the service by paying the prescribed fee and by complying with such terms and conditions as may be
determined by the Registrar.
(3) Only a subscriber to the service provided under subsection (1) may electronically file or lodge
documents with the Registrar.
(4) A document electronically filed or lodged under this section shall be deemed to have satisfied the
requirement for filing or lodgment if the document is communicated or transmitted to the Registrar in such
manner as may be prescribed by regulations or approved by the Registrar.
(5) The Registrar may, by order published in the Gazette, prescribe the documents that may be
electronically filed or lodged.
(6) A document that is required to be stamped, signed or sealed shall, if it is to be electronically filed or
lodged be certified or authenticated in such manner as may be prescribed by regulations or approved by
the Registrar.
(6A) Where a document is to be filed or lodged electronically, in place of a statutory declaration that must
be made by a person under this Act, there shall be filed or lodged with the Registrar electronically a
declaration made by the person in the manner prescribed by the Registrar and the Registrar may accept
such statements as sufficient evidence of compliance.
(6B) Statements made by virtue of subsection (6A) shall be deemed to be such declarations as are
referred to in sections 199 and 200 of the Penal Code [Act 574].
(6C) Where a document that is required to be signed and attested under this Act is to be filed and lodged
electronically, the requirement for attestation of the signature does not apply.
[(6A) -(6C) Ins. Act A1299:s.2]
Evidentiary value of copies of electronically filed documents certified by Registrar
(7) A copy of or an extract from any document electronically filed or lodged with the Registrar under
subsection (1) supplied or issued by the Registrar and certified to be a true copy thereof or extract
therefrom under the hand and seal of the Registrar shall be admissible in evidence in any proceedings as
of equal validity as the original document.
(8) Where a document is electronically filed or lodged with the Registrar, the Registrar or his authorized
agents shall not be liable for any loss or damage suffered by any person by reason of any error or
omission of whatever nature or however arising appearing in any document obtained by any person under
the service referred to in subsection (1) if such error or omission was made in good faith and in the
ordinary course of the discharge of the duties of the Registrar or of his authorized agents or occurred or
arose as a result of any defect or breakdown in the service or in the equipment used for the provision of
the service.
(9) Where a document is filed or lodged with the Registrar under this section which does not comply with
any requirement of this section, the Registrar may serve on the person by whom the document was filed
or lodged (or, if there are two or more such persons, on any of them) a notice indicating the requirement
which the document does not comply with.
(10) Where a replacement document—
(a) is filed or lodged with the Registrar within fourteen days after the service of the notice in
subsection (9); and
(b) complies with the requirement of this section,
the document shall be deemed to have been filed or lodged with the Registrar.
(11) For the purpose of any provision of this Act which imposes a penalty for failure to file or lodge a
document, so far as it imposes a penalty for a continued contravention, no account shall be taken of the
period between the filing or lodgement of the document at the first instance and the end of the period of
fourteen days after the service of the notice under subsection (9).
[(9) - (11)Ins. Act A1299:s.2]
ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART VI - ACCOUNTS AND AUDIT
DIVISION 1 – ACCOUNTS
Section 168. As to accounting periods of companies within the same group.
(1) Subject to subsections (11) and (12) the directors of every holding company that is not a foreign
company shall take such steps as are necessary to ensure that—
(a) within two years after the commencement of this Act, the financial years of each of its
subsidiaries coincide with the financial year of the holding company; and
(b) within two years after any corporation becomes a subsidiary of the holding company, the
financial year of that corporation coincides with the financial year of the holding company.
(2) Where the financial year of a holding company that is not a foreign company and that of each of its
subsidiaries coincide, the directors of the holding company shall at all times take such steps as are
necessary to ensure that without the consent of the Registrar the financial year of the holding company or
any of its subsidiaries is not altered so that all such financial years do not coincide.
(3) Where the directors of the holding company are of the opinion that there is good reason why the
financial year of any of its subsidiaries should not coincide with the financial year of the holding company,
the directors may apply in writing to the Registrar for an order authorizing any subsidiary to continue to
have or to adopt (as the case requires) a financial year which does not coincide with that of the holding
company.
(4) The application shall be supported by a statement by the directors of the holding company of their
reasons for seeking the order.
(5) The Registrar may require the directors who make an application under this section to supply such
information relating to the operation of the holding company and of any corporation that is deemed by
virtue of section 6 to be related to the holding company as he thinks necessary for the purpose of
determining the application.
(6) The Registrar may at the expense of the holding company of which the applicants are directors
request any approved company auditor to investigate and report on the application.
(7) The Registrar may rely upon any report obtained pursuant to subsection (6) from the approved
company auditor.
(8) The Registrar may make on order granting or refusing the application or granting the application
subject to such limitations, terms or conditions as he thinks fit and shall serve the order on the holding
company.
(9) Where the applicants are aggrieved by any order made by the Registrar, the applicants may, within
two months after the service of the order upon the holding company, appeal against the order to the
Minister.
(10) The Minister shall determine the appeal and in determining the appeal may make any order that the
Registrar had power to make on the original application and may exercise any of the powers that the
Registrar might have exercised in relation to the original application.
(11) Where the directors of a holding company have applied to the Registrar for an order authorizing any
subsidiary to continue to have a financial year which does not coincide with that of the holding company,
the operation of subsection (1) shall be suspended in relation to that subsidiary until the determination of
the application and of any appeal arising out of the application.
(12) Where an order is made authorizing any subsidiary to have a financial year which does not coincide
with that of the holding company, compliance with the terms of the order of the Registrar or where there
has been an appeal, compliance with the terms of any order made on the determination of the appeal
shall be deemed to be a compliance with subsection (1) in relation to that subsidiary, but where an
application for such an order and the appeal, if any, arising out of that application are refused the time
within which the directors of the holding company are required to comply with subsection (1) in relation to
that subsidiary shall be deemed to be the period of twelve months after the date upon which the order of
the Registrar is served on the holding company or the period of twelve months after the determination of
the appeal, as the case may be.
(13) Where the directors of a holding company have applied to the Registrar for an order authorizing any
of its subsidiaries to continue to have or to adopt a financial year which does not coincide with that of the
holding company and the application and the appeal, if any, arising out of that application, have been
refused, the directors of the holding company shall not make a similar application with respect to that
subsidiary within three years after the refusal of the application or where there is an appeal, after the
determination of that appeal unless the Registrar is satisfied that there has been a substantial change in
the relevant facts or circumstances since the refusal of the former application or the determination of the
appeal, as the case may be.
COMPANIES ACT 1965 (REVISED - 1973)
PART VI - ACCOUNTS AND AUDIT
DIVISION 1 - ACCOUNTS
Section 167. Accounts to be kept.
(1) Every company and the directors and managers thereof shall cause to be kept such accounting and
other records as will sufficiently explain the transactions and financial position of the company and enable
true and fair profit and loss accounts and balance sheets and any documents required to be attached
thereto to be prepared from time to time, and shall cause those records to be kept in such manner as to
enable them to be conveniently and properly audited.
(1A) Every company and the directors and managers thereof shall cause appropriate entries to be made
in the accounting and other records within sixty days of the completion of the transactions to which they
relate.
(2) The company shall retain the records referred to in subsection (1) for seven years after the completion
of the transactions or operations to which they respectively relate.
(3) The records referred to in subsection (1) shall be kept at the registered office of the company or at
such other place in Malaysia as the directors think fit and shall at all times be open to inspection by the
directors.
(4) Notwithstanding the provisions in subsection (3), the accounting and other records of operations
outside Malaysia may be kept by the company at a place outside Malaysia and there shall be sent to and
kept at a place in Malaysia and be at all times open to inspection by the directors, such statements and
returns with respect to the business dealt with in the records so kept as will enable to be prepared true
and fair profit and loss accounts and balance sheets and any documents required to be attached thereto.
(5) If any accounting and other records are kept at a place outside Malaysia pursuant to subsection (4),
the company shall, if required by the Registrar to produce those records at a place in Malaysia, comply
with the requirements.
(6) The Court may in any particular case order that the accounting and other records of a company be
open to inspection by an approved company auditor acting for a director, but only upon an undertaking in
writing given to the Court that information acquired by the auditor during his inspection shall not be
disclosed by him except to that director.
(7) If default is made in complying with this section the company and every officer of the company who is
in default shall be guilty of an offence against this Act. Penalty: Imprisonment of *six months or five
thousand ringgit or both.
ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART II - ADMINISTRATION OF ACT
Section 11A. Electronic filing of documents.
(1) The Registrar may provide a service for the electronic filing or lodging of documents required by this
Act to be filed or lodged with the Registrar.
(2) A person who intends to use the service provided under subsection (1) shall become a subscriber to
the service by paying the prescribed fee and by complying with such terms and conditions as may be
determined by the Registrar.
(3) Only a subscriber to the service provided under subsection (1) may electronically file or lodge
documents with the Registrar.
(4) A document electronically filed or lodged under this section shall be deemed to have satisfied the
requirement for filing or lodgment if the document is communicated or transmitted to the Registrar in such
manner as may be prescribed by regulations or approved by the Registrar.
(5) The Registrar may, by order published in the Gazette, prescribe the documents that may be
electronically filed or lodged.
(6) A document that is required to be stamped, signed or sealed shall, if it is to be electronically filed or
lodged be certified or authenticated in such manner as may be prescribed by regulations or approved by
the Registrar.
(6A) Where a document is to be filed or lodged electronically, in place of a statutory declaration that must
be made by a person under this Act, there shall be filed or lodged with the Registrar electronically a
declaration made by the person in the manner prescribed by the Registrar and the Registrar may accept
such statements as sufficient evidence of compliance.
(6B) Statements made by virtue of subsection (6A) shall be deemed to be such declarations as are
referred to in sections 199 and 200 of the Penal Code [Act 574].
(6C) Where a document that is required to be signed and attested under this Act is to be filed and lodged
electronically, the requirement for attestation of the signature does not apply.
[(6A) -(6C) Ins. Act A1299:s.2]
Evidentiary value of copies of electronically filed documents certified by Registrar
(7) A copy of or an extract from any document electronically filed or lodged with the Registrar under
subsection (1) supplied or issued by the Registrar and certified to be a true copy thereof or extract
therefrom under the hand and seal of the Registrar shall be admissible in evidence in any proceedings as
of equal validity as the original document.
(8) Where a document is electronically filed or lodged with the Registrar, the Registrar or his authorized
agents shall not be liable for any loss or damage suffered by any person by reason of any error or
omission of whatever nature or however arising appearing in any document obtained by any person under
the service referred to in subsection (1) if such error or omission was made in good faith and in the
ordinary course of the discharge of the duties of the Registrar or of his authorized agents or occurred or
arose as a result of any defect or breakdown in the service or in the equipment used for the provision of
the service.
(9) Where a document is filed or lodged with the Registrar under this section which does not comply with
any requirement of this section, the Registrar may serve on the person by whom the document was filed
or lodged (or, if there are two or more such persons, on any of them) a notice indicating the requirement
which the document does not comply with.
(10) Where a replacement document—
(a) is filed or lodged with the Registrar within fourteen days after the service of the notice in
subsection (9); and
(b) complies with the requirement of this section,
the document shall be deemed to have been filed or lodged with the Registrar.
(11) For the purpose of any provision of this Act which imposes a penalty for failure to file or lodge a
document, so far as it imposes a penalty for a continued contravention, no account shall be taken of the
period between the filing or lodgement of the document at the first instance and the end of the period of
fourteen days after the service of the notice under subsection (9).
[(9) - (11)Ins. Act A1299:s.2]
ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART VI - ACCOUNTS AND AUDIT
DIVISION 1 – ACCOUNTS
Section 168. As to accounting periods of companies within the same group.
(1) Subject to subsections (11) and (12) the directors of every holding company that is not a foreign
company shall take such steps as are necessary to ensure that—
(a) within two years after the commencement of this Act, the financial years of each of its
subsidiaries coincide with the financial year of the holding company; and
(b) within two years after any corporation becomes a subsidiary of the holding company, the
financial year of that corporation coincides with the financial year of the holding company.
(2) Where the financial year of a holding company that is not a foreign company and that of each of its
subsidiaries coincide, the directors of the holding company shall at all times take such steps as are
necessary to ensure that without the consent of the Registrar the financial year of the holding company or
any of its subsidiaries is not altered so that all such financial years do not coincide.
(3) Where the directors of the holding company are of the opinion that there is good reason why the
financial year of any of its subsidiaries should not coincide with the financial year of the holding company,
the directors may apply in writing to the Registrar for an order authorizing any subsidiary to continue to
have or to adopt (as the case requires) a financial year which does not coincide with that of the holding
company.
(4) The application shall be supported by a statement by the directors of the holding company of their
reasons for seeking the order.
(5) The Registrar may require the directors who make an application under this section to supply such
information relating to the operation of the holding company and of any corporation that is deemed by
virtue of section 6 to be related to the holding company as he thinks necessary for the purpose of
determining the application.
(6) The Registrar may at the expense of the holding company of which the applicants are directors
request any approved company auditor to investigate and report on the application.
(7) The Registrar may rely upon any report obtained pursuant to subsection (6) from the approved
company auditor.
(8) The Registrar may make on order granting or refusing the application or granting the application
subject to such limitations, terms or conditions as he thinks fit and shall serve the order on the holding
company.
(9) Where the applicants are aggrieved by any order made by the Registrar, the applicants may, within
two months after the service of the order upon the holding company, appeal against the order to the
Minister.
(10) The Minister shall determine the appeal and in determining the appeal may make any order that the
Registrar had power to make on the original application and may exercise any of the powers that the
Registrar might have exercised in relation to the original application.
(11) Where the directors of a holding company have applied to the Registrar for an order authorizing any
subsidiary to continue to have a financial year which does not coincide with that of the holding company,
the operation of subsection (1) shall be suspended in relation to that subsidiary until the determination of
the application and of any appeal arising out of the application.
(12) Where an order is made authorizing any subsidiary to have a financial year which does not coincide
with that of the holding company, compliance with the terms of the order of the Registrar or where there
has been an appeal, compliance with the terms of any order made on the determination of the appeal
shall be deemed to be a compliance with subsection (1) in relation to that subsidiary, but where an
application for such an order and the appeal, if any, arising out of that application are refused the time
within which the directors of the holding company are required to comply with subsection (1) in relation to
that subsidiary shall be deemed to be the period of twelve months after the date upon which the order of
the Registrar is served on the holding company or the period of twelve months after the determination of
the appeal, as the case may be.
(13) Where the directors of a holding company have applied to the Registrar for an order authorizing any
of its subsidiaries to continue to have or to adopt a financial year which does not coincide with that of the
holding company and the application and the appeal, if any, arising out of that application, have been
refused, the directors of the holding company shall not make a similar application with respect to that
subsidiary within three years after the refusal of the application or where there is an appeal, after the
determination of that appeal unless the Registrar is satisfied that there has been a substantial change in
the relevant facts or circumstances since the refusal of the former application or the determination of the
appeal, as the case may be.
