The Memorandum of Association of Automobile Company is a crucial incorporation document required when establishing an automotive manufacturing or assembly company in Malaysia. This document is mandated by the Companies Act 2016 and must be filed with the Companies Commission of Malaysia (SSM) during the company registration process. It serves as the company's constitutional document, defining its scope of operations, share capital structure, and relationship with stakeholders. The memorandum is particularly important in the automotive sector due to Malaysia's specific regulations regarding manufacturing licenses, foreign ownership restrictions, and compliance with the National Automotive Policy. It forms the foundation for all future company activities and is frequently referenced in corporate transactions, regulatory compliance matters, and stakeholder agreements.
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1. Name Clause: States the registered name of the automobile company as approved by the Companies Commission of Malaysia (SSM)
2. Registered Office Clause: Specifies the location of the registered office where the company will be situated in Malaysia
3. Objects Clause: Details the main objectives of the automobile company, including manufacturing, assembly, sales, and related activities
4. Liability Clause: States that the liability of members is limited to their shareholding in the company
5. Capital Clause: Specifies the authorized share capital of the company, types of shares, and their nominal value
6. Subscription Clause: Contains details of the initial subscribers, their names, addresses, and number of shares subscribed
1. Additional Business Activities: Includes secondary business objectives beyond core automobile manufacturing, such as research and development, training, or consulting services
2. Special Rights: Details any special rights attached to different classes of shares, if the company plans to issue different share classes
3. Foreign Ownership Provisions: Special provisions regarding foreign ownership limits and requirements, if applicable
4. Technology Transfer Clause: Provisions related to technology transfer agreements with foreign partners or parent companies
1. Schedule 1: Share Capital Structure: Detailed breakdown of the company's share capital structure, including different classes of shares and their rights
2. Schedule 2: Initial Subscribers: Detailed information about initial subscribers including their identification details, shareholding percentages, and consideration paid
3. Schedule 3: Business Activities: Comprehensive list of all permitted business activities under the objects clause
4. Appendix A: Compliance Requirements: List of specific regulatory requirements and licenses needed for automobile manufacturing operations in Malaysia
5. Appendix B: Corporate Structure: Organizational chart showing the corporate structure and any parent company or subsidiary relationships
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