Myanmar Companies Law 2017: Contents

TABLE OF CONTENTS

PART I – PRELIMINARY ………………………………………………………………………………………………………… 1

Division 1: Citation, commencement and definitions ………………………………………………………….. 1

PART II – CONSTITUTION, INCORPORATION AND POWERS OF COMPANIES ………………… 7

Division 2: Registration of companies ………………………………………………………………………………. 7

Division 3: Nature of companies ………………………………………………………………………………………. 7

Division 4: Incorporations and registrations under this Law ………………………………………………. 8

Division 5: The company constitution ……………………………………………………………………………… 11

Division 6: Company names …………………………………………………………………………………………… 14

Division 7: Company dealings ………………………………………………………………………………………… 15

Division 8: Activities prior to registration ………………………………………………………………………… 17

Division 9: Other corporations authorised to register or taken to be registered under this Law19

Division 10: Change of company type ……………………………………………………………………………… 26

PART III – SHARES AND MATTERS RELATING TO A COMPANY’S CAPITAL ………………… 29

Division 11: Shares and other securities ………………………………………………………………………….. 29

Division 12: Transfers of shares and other securities ……………………………………………………….. 35

Division 13: Registers and certification of interests in a company ……………………………………… 36

Division 14: Dividends …………………………………………………………………………………………………… 42

Division 15: Transactions and matters affecting share capital …………………………………………… 44

PART IV – MANAGEMENT, ADMINISTRATION AND GOVERNANCE; OFFERS OF SECURITIES TO THE PUBLIC; GRANT OF SECURITY BY A COMPANY; MAINTENANCE OF COMPANY ACCOUNTS ……………………………………………………………………….. 55

Division 16: Office and name …………………………………………………………………………………………. 55

Division 17: Meetings and proceedings …………………………………………………………………………… 56

Division 18: Directors and their powers and duties …………………………………………………………… 66

Division 19: Members rights and remedies ………………………………………………………………………. 80

Division 20: Matters relating to share offers by public companies ……………………………………… 85

Division 21: Share offers by corporations incorporated outside the Republic of the Union of Myanmar ……………………………………………………………………………………………………………………… 95

Division 22: Mortgages and charges granted by a company ………………………………………………. 98

Division 23: Appointment of receivers, keeping of book and registration of charges granted by corporations incorporated outside the Republic of the Union of Myanmar ……………………….. 105

Division 24: Financial Reports and Audit ……………………………………………………………………… 105

Division 25: Arbitration, compromise with creditors and members and buy-out rights ……… 114

PART V – WINDING UP ……………………………………………………………………………………………………….. 118

Division 26: Winding up a company ……………………………………………………………………………… 118

Division 27: Winding up of unregistered companies ……………………………………………………….. 153

PART VI – THE REGISTRAR, REGISTRATION OFFICE, REGISTRATION OF DOCUMENTS, POWERS OF INSPECTION AND FEES; REMOVAL OF COMPANIES FROM THE REGISTER ……………………………………………………………………………………………………….. 156

Division 28: The Registrar, registration office, registration of documents, powers of inspection and fees and removal of companies from the register ……………………………………………………… 156

PART VII – PROCEEDINGS AND OFFENCES …………………………………………………………………….. 164

Division 29: Jurisdiction of the Courts and legal proceedings …………………………………………. 164

Division 30: Offences and defences ………………………………………………………………………………. 174

PART VIII – MISCELLANEOUS ………………………………………………………………………………………….. 179

Division 31: Regulations, notifications and guidelines ……………………………………………………. 179

Division 32: Savings and transitional provisions ……………………………………………………………. 180