Winding up period extended 21 days 6 months

Debt Recovery Law In Malaysia and Legal Tips

English Version

Versi Bahasa Malaysia

You Can Issue a Demand but you must wait 6 months to sue

您可发出要求,但须等六个月才能起诉

Nuclear Bomb

核弹

1 During the Movement Control Order (MCO), on April 10, 2020, our Minister of Domestic Trade and Consumer Affairs, the Honourable Datuk Alexander Nanta Linggi  struck  a nuclear bomb into the hearts of millions of creditors in the country:   you can issue a Statutory Notice  of Demand but can only file your winding up petition 6 months later.

1在2020年4月10日的行动管制令(MCO)期间,我们尊敬的国内贸易及消费人事务部长拿督亚历山大南达林奇向国内数百万债权人的心里投掷了核弹:您可发出法定要求通知书,但只能在6个月后提交清盘呈请。

Quick Background

简易背景

2 Usually a creditor may file a winding up petition 21 days  after issuing a statutory notice, please click here for more details. For even more questions on companies winding up, please click here.

2债权人通常可以在发出法定通知后21天提出清盘呈请,请单击此处了解更多详细信息。有关公司清盘的更多问题,请单击此处。

3 s465(1)(e) of the Companies Act 2016 (hereinafter the “Act”) reads as follows:

“465  Circumstances in which company may be wound up by Court

(1) The Court may order the winding up if-

(e) the company is unable to pay its debts;”

3《 2016年公司法》(以下简称“该法”)第465(1)(e)条的内容如下:

“ 465公司可能会被法院清盘的情况

(1)法院可命令清盘,如─

(e)公司无力偿还其债务;”

3.1 s466(1)(a) of the  Act 2016  reads as follows:

“466  Definition of “inability to pay debts”

(1) A company shall be deemed to be unable to pay its debts if-

  • the company is indebted in a sum exceeding the amount as may be prescribed by the Minister and a creditor by assignment or otherwise has served a notice of demand, by himself or his agent, requiring the company to pay the sum due by leaving the notice at the registered office of the company, and the company has for twenty-one days after the service of the demand neglected to pay the sum or to secure or compound for it to the satisfaction of the creditor;”

3.1 2016年法令第466(1)(a)条的内容如下:

“ 466“无力偿还债务”的定义

(1)公司将被视为无力偿还其债务,如─

(a)公司欠债金额超过部长所规定的数额,和通过转让的债权人或其代理人已送达要求通知书,透过送达通知书于公司的注册办事处要求公司支付到期款项,并且公司在送达要求后的二十一天内忽视使债权人满意的付款或担保或复利,”

4 s466(1)(a) of the Act provided three parts, 

4该法令第466(1)(a)条规定了三个部分,

4.1 The amount owing may be determined by the Minister from time to time;

4.1欠款额可由部长不定期地规定;

4.2 The service of notice of demand;

4.2送达通知书;

4.3 After 21 days, the creditor may file a petition against the debtor.

4.3 21天后,债权人可以向债务人提出请愿书。

A Statutory Triple Jump

法定三级跳

5 What the Honourable Minister could do as prescribed by the Companies Act 2016 was only with respect to the amount owing, his power stops there.

5尊敬的部长能做的只是根据《 2016年公司法》的规定仅关于欠款,他的权力止步于止。

5.1  However  to amend the period from 21 days to 6 months, such power is not conferred onto the Minister by the Act;

5.1但是,该法案并未赋予部长这种将法案的期限从21天延长至6个月的权力;

5.2 We believe  there was an oversight as the Minister must has thought that he had a power to amend the amount and therefore the  period as well via a Triple Jump skipping the tabling and passing of the amendment of the Act by a Bill of Parliament, the Royal Assent and the   Gazette Notification.   

5.2我们认为这是疏忽,因为部长必定认为他有权修改金额,因此也可以修改期限,通过三级跳来省略通过该修正案的国会法案,皇家同意书和宪报公告。

Further Clarification

澄清

6 We are seeking further clarification with the Companies Commission of Malaysia. 

6我们正寻求与马来西亚公司委员会的进一步澄清。

6.1 With the greatest respect, we feel   that meanwhile the announcement of the Honourable Minister on extending  the  period cannot be upheld in court as the principal Act has not been amended.

6.1谨此以最高的敬意,我们认为尊敬的部长此时所宣布的延长期限的决定无法在法院站稳脚步,这是因为该主要法令还未被修正

Conclusion

结论

7 We will continue to assist our clients to issue Statutory Notices and commence a Companies Winding Up Petition after the expiry of 21 days.

7我们将继续协助客户发出法定通知书,并在21天到期后开始公司清盘呈请。

8 For more information on Companies Winding Up please refer to the following publications many of them with contributions from our firm. 

8有关公司清盘的更多信息,请参阅以下出版刊物,其中许多来自我们律所。

8.1  The Malaysian Court Forms; 

8.1马来西亚法院表格;

8.2 The Companies Winding Up Handbook; and

8.2公司清盘手册;和

8.3 The Halsbury Laws of Malaysia volume 6 on Companies Winding Up.

8.3马来西亚《霍尔斯伯里法律》第6卷有关公司清盘。

Alex Chang

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