+1-415-670-9189
info@expertsmind.com
Legal status of company without company secretary
Course:- Auditing
Reference No.:- EM13672272




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Auditing

Question: Legal Status of Company without Company Secretary?.

The Company Secretary vacated the position of a Secretary by filing a form at the companies house by stating that '' I am giving notice to vacate the office of company secretary because i am unable to contact the directors of the company.

Four years later, the company was struck out from the registry. ( March 2011 )

Next, the contributors made an application under the companies act to reinstate the company onto the registry. During the application and while the company was struck out the audited financial statement were completed for the period of 10 years.The auditor issued unqualified audit report.

In November 2013, the company was reinstated without a company secretary.

Under the Malaysian Company Act 1965 - A company requires a minimum of 2 directors and a company secretary. The position of the company secretary if vacated must be replaced within 30 days.

Answered:-

Verified Expert


Preview Container content

As per the present case under consideration, the secretary of the company had filed misleading information in the company house. In response to the various letters and directions to the company by the Registrar of Companies, no reply was provided, and therefore exercising the provisions of Companies Act, the name of the company was struck off from the register on 25th March 2011. Subsequently the directors of the company filed a petition for restoration of name of the company and also complied to all the requirements for submission of returns

Documents which are in support of the petition so filed by the company. in accordance with the same, the following are the legal issues which may arise and the actual legal standing in the same is also mentioned:A company in order to reinstate or restore the name of the company in the registrar of companies is required to make an application u/s 308(5) of the Companies Act, and will be required to ensure that the application is made within 15 years of the removal of name. The registrar may on consideration of




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Auditing) Materials
Pyramid Products Company has a revolving credit agreement with its bank. The company can borrow up to $1 million under the agreement at an annual interest rate of 9 percent.
Does the fact that your bank keeps only a fraction of your account balance in reserve make you uncomfortable? Why don't people rush to the bank and retrieve their money? How
The region's average sales per square foot was obtained from information provided by the National Association of Convenience Stores (NACS), which publishes information on th
Construct the "Processing Cash Collections" segment of the internal control questionnaire on "Cash Receipts" to be used in the evaluation of internal control over the Sparta
For this assignment you will go to the ACL web site (www.acl.com) and detail uses of ACL software for audit and fraud analysis. In addition, comment on continuous monitoring
Explain why an analysis of the company's control environment is important to planning the integrated audit. The company claims that it has a strong control environment, inclu
Discuss the appropriate treatment of each proposed arrangement from the viewpoint of the auditor, who must apply GAAP in deciding whether the transaction will result in a li
What steps would you take to investigate this suspected embezzlement? As a first step in your investigation, would you interview Jane about the problem? Why or why not? How wo