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Malaysia – Companies (Amendment) Bill 2023 [Issue 3 of 3]

Companies (Amendment) Bill 2023 [Issue 3 of 3]

In this edition of our newsletter, we examine the Limited Liability Partnership (Amendment) Bill 2023, spotlighting the objectives of the proposed amendments and the associated policy clusters.

Objectives of Amendments under LLPs (Amendment) Bill 2023

Policies Cluster under the LLP (Amendment) Bill

  • Introduction of corporate rescue mechanism framework for LLPs
    • The provisions relating to [Corporate Voluntary Arrangement (CVA) and Judicial Management (JM)] will apply to LLPs with modifications
  • Introduction of beneficial ownership reporting framework
    • Similar policies under the Companies (Amendment) Bill