Further to our announcement released on 30 December 2020 relating to the awareness of Sections 85 and 223 of the Companies Act 2016 (CA2016), MAICSA wishes to update members on the decision delivered by the Federal Court on 26 March 2024 which overturned the Court of Appeal’s interpretation of Sections 85 and 223 of the CA2016 in the case of Mercury Securities Sdn Bhd & Anor v Concrete Parade Sdn Bhd & Anor (“Concrete Parade Case”).
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