The Board Resolution For Non Operation is a crucial corporate document used when a company in Malaysia decides to temporarily or permanently cease its business operations while maintaining its legal entity status. This document becomes necessary when companies face circumstances such as economic challenges, restructuring needs, or strategic decisions to suspend operations. The resolution must comply with the Malaysian Companies Act 2016 and SSM requirements, containing specific details about the decision-making process, implementation steps, and ongoing compliance obligations. It serves multiple purposes: documenting the board's decision, providing clear instructions for implementation, maintaining corporate records, and ensuring regulatory compliance. The document is particularly important as it helps protect director liability and maintains transparency with stakeholders during the non-operational period.
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1. Title and Company Details: Full legal name of the company, company registration number, and registered address
2. Date and Venue: Date, time, and location of the board meeting where the resolution was passed
3. Present Directors: List of directors present at the meeting and confirmation of quorum
4. Chairman: Identification of the meeting's chairman
5. Notice and Quorum: Confirmation that proper notice was given and quorum requirements were met
6. Background and Purpose: Explanation of the reasons for ceasing operations and current company situation
7. Resolutions: Specific resolutions passed regarding the cessation of operations, including effective date
8. Implementation Instructions: Specific actions to be taken to implement the non-operation status
9. Authorization: Authority granted to specific officers to execute necessary documents and notifications
10. Certification: Signature section confirming the resolution's authenticity
1. Statutory Declarations: Required if specific declarations need to be made to regulatory bodies about the non-operational status
2. Employee Matters: Include if there are employees affected by the non-operation decision
3. Asset Disposition: Required if the company needs to make decisions about existing assets during non-operation
4. Continuation of Compliance Obligations: Include if specific ongoing compliance requirements need to be addressed during non-operation
5. Future Revival Provisions: Include if the board wishes to specify conditions or procedures for future resumption of operations
1. List of Current Directors: Complete list of all current directors with their details
2. Notice of Meeting: Copy of the notice sent to directors for the board meeting
3. Financial Statement Summary: Current financial position of the company supporting the non-operation decision
4. Compliance Checklist: List of regulatory requirements to be maintained during non-operation
Relevant legal definitions
Clauses
Meeting Details
Attendance and Quorum
Declaration of Interests
Background and Purpose
Cessation of Operations
Asset Management
Financial Matters
Regulatory Compliance
Employee Relations
Statutory Obligations
Record Keeping
Authorization
Implementation
Continuing Obligations
Future Revival Conditions
Communication Protocol
Signatory Authority
Certification
Filing Requirements
Legal Compliance
Attendance and Quorum
Declaration of Interests
Background and Purpose
Cessation of Operations
Asset Management
Financial Matters
Regulatory Compliance
Employee Relations
Statutory Obligations
Record Keeping
Authorization
Implementation
Continuing Obligations
Future Revival Conditions
Communication Protocol
Signatory Authority
Certification
Filing Requirements
Legal Compliance
Relevant Industries
Manufacturing
Technology
Retail
Services
Construction
Real Estate
Financial Services
Healthcare
Education
Hospitality
Logistics
Mining
Agriculture
Entertainment
Professional Services
Relevant Teams
Board of Directors
Corporate Secretariat
Legal
Compliance
Finance
Risk Management
Corporate Governance
Executive Management
Administrative
Regulatory Affairs
Relevant Roles
Chief Executive Officer
Managing Director
Board Director
Company Secretary
Chief Financial Officer
Corporate Secretary
Legal Counsel
Compliance Officer
Board Chairman
Executive Director
Non-Executive Director
Corporate Governance Officer
Risk Management Officer
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