On 1 November 2023, Suruhanjaya Syarikat Malaysia (SSM) issued notices to create awareness on Section 30(2)(b) of the Companies Act 2016 (the Act) that mandates all companies registered under the Act must prominently display their company name and registration number on their websites and social media. Failure to comply with such requirements may subject to a penalty of RM50,000 or a 3-year imprisonment, or both.
The Registration of Businesses (Amendment) (No. 2) 2020 Rules [P.U.(A)140/2020] which came into effect on 7 May 2020 by amending Rule 13 and Rule 13A of the Business Registration Rules 1957 and prescribing the requirements to publish business name and registration number on social media platform, electronic medium, and all other forms of the business correspondence and documentation.
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