malaysia company law

7/23/2019 Malaysia Company Law

1/30

INXTMHZCXIMN

Xbis kssignajnt hjtkifs tbj inomraktimn kdmut tbj cmapkny fkw.

Xbis kssignajnts cmntjnt bkh incfuhj tbj cfkrioicktimn mo nkturj mo rjgistjrjh cmapkny,

tbj hioojrjncjs djtwjjn hioojrjnt trkhing omrakts (sucb ks smfj trkhjr, pkrtnjrsbip knh cmapkny,

tbj joojct mo rjgistrktimn mo k cmapkny (sucb ks sjpkrktj fjgkf jntity fiaitjh fikdifity, pjrpjtukf

succjssimn knh pmwjr tm mwn prmpjrty), typjs mo cmapknijs (sucb ks unfiaitjh cmapkny,

cmapkny fiaitjh dy gukrkntjj knh cmapkny fiaitjh dy sbkrjs), incmrpmrktimn mo k cmapkny, tbj

prmcjhurj omr incmrpmrktimn, vjif mo incmrpmrktimn, knh fioting tbj jvif mo incmrpmrktimn (dy

kutmaktic knh hiscrjtimnkry)

Xbjsj hjtkifs krj givjn in mrhjr tm givj k cmncfusimn mn wbjtbjr tm kgrjj mr nmt kgrjj tbkt

vkrimus kutbmrs bkvj criticizjh ajtkpbmrs cmaamnfy usjh dy tbj cmurt in vjif-pijrcing cksjs

(sucb ks sbka, siaufkcrua, aks, oictimn, aytb) ks djing nm amrj tbkn cmncfuskry

tjras, wbicb kffmw tbj cmurts tm hm ks tbjy pfjksj mn tbj dksis mo pmficy.

Xbis kssignajnt wks rj!ujstjh dy "r. #mpjnktbkn $kakn %kir, &jcturjr mo 'kfkysikn

mapkny &kw in inkry *nivjrsity. +t wks prjpkrjh dy Xkn bjng ing, kccmunting stuhjnt ininkry *nivjrsity knh sudaittjh tm "r. #mpjnktbkn $kakn %kir mn tb/knukry 55.

Kc`nmwfjhgajnts

;+ wmufh fij tm tbkn ay fjcturjr, "r. #mpjnktbkn $kakn %kir, omr bis jncmurkgjajnt

knh guihkncj, omr tbj vkfukdfj khvicj knh suppmrt bj bks givjn aj in tbj writing mo tbis

kssignajnt. 'y hjjpjst tbkns gm tm ay pkrjnts, omr bjr4bis fmvj, unhjrstknhing knh suppmrt.;


2/30

[ZJSXIMN

_krimus kutbmrs bkj critici!jh ajtk"bmrs cmaamnf# usjh $# tbj cmurt in jif%"ijrcing

cksjs &sucb ks 'sbka() 'siaufkcrua() 'aks`() '*ictimn() 'a#tb( ks $jing nm amrj tbkn

cmncfuskr# tjras) wbicb kffmw tbj cmurts tm hm ks tbj# "fjksj mn tbj $ksis m* "mfic#+ Hm #mu

kgrjj,


3/30

-+. NKXZTJ M/ TJ5ISXJTJH CM;4KN3

-+- 8bkt is k Tjgistjrjh Cma"kn#,

Xbj oirst pmint in k stuhy mo cmapkny fkw is tm hjoinj

prjcisjfy wbkt is ajknt dy k cmapkny.

Xbj hjoinitimn in tbj mapknijs 3ct 8:? stktjs tbkt k cmapkny ajkns k cmapkny

omrajh knh rjgistjrjh unhjr tbis 3ct mr kn j7isting cmapkny.

3s k cmnsj!ujncj, k rjgistjrjh cmapkny ckn dj hjoinjh ks k cmapkny incmrpmrktjh dy

rjgistrktimn unhjr tbj mapknijs 3cts, is rjgkrhjh dy tbj fkw ks k pjrsmn 2ust ks k buakn djing,'r. 9aitb mr 'r. /mnjs, is k pjrsmn &5jm**rj# ;mrsj) Cma"kn# :kw?+


4/30

7+. HI//JTJNX XTKHIN5 /MT;KXS

Xbjrj krj tbrjj dksic trkhing omrakts> k cmapkny, k smfj trkhjr knh k pkrtnjrsbip.

7+- CM;4KN3

7+-+- Structurj

=nj mptimn mpjn tm k pjrsmn sjtting up k dusinjss is tm omra, mr incmrpmrktj, k rjgistjrjh

cmapkny. Xbjrj krj hioojrjnt typjs mo rjgistjrjh cmapknijs, hjpjnhing mn tbj usjs tm wbicb tbjy

krj tm dj put.

Xbj amst cmaamn typj mo cmapkny in 'kfkysik, knh tbj mnj wj wiff djkr in ainh amstckrjouffy, is tbj pudfic cmapkny fiaitjh dy sbkrjs, tbj typickf

EKX$=%39(, tbj sbmrt omra omr Ejtrmfika %ksimnkf jrbkh,.

7+7+7 Tjgistrktimn

Xbj prmcjss mo omraing knh rjgistjring k cmapkny in kccmrhkncj witb fjgisfktimn is

nmwn ks incmrpmrktimn. Xbus, tbj jy ojkturj mo k cmapkny is tbkt it is k

fjgkf jntity (mr pjrsmn) in its mwn rigbt, fjgkffy hioojrjnt orma tbj pjmpfj

wbm mwn it, nmwn ks k sjpkrktj fjgkf pjrsmnkfity. Xbj khvkntkgj mo

fiaitjh fikdifity rjsufts orma tbis.

D


5/30

7+7 SM:J XTKHJT

7+7+- Structurj

3 smfj trkhjr is siapfy kn inhivihukf wbm ckrrijs mut tbj trkhj mr dusinjss

singfj bknhjhfy. Xbis, bj is rjspmnsidfj omr tbj kff tbj kookirs pjrtkining tm tbj

dusinjss.

7+7+7 Tjgistrktimn

Xbj smfj trkhjr bks tbj cbmicj tm trkhj unhjr bis mr bjr mwn nkaj mr unhjr k rjgistjrjh

dusinjss nkaj, omr j7kapfj, /mbn C kjry.

Xbis kffmws tbj smfj trkhjr tm hm dusinjss witb k nkaj mtbjr tbkn tbjir fjgkf nkaj knh

kfsm kffmws tbja tm mpjn k dusinjss kccmunt witb dkning institutimns. Hmwjvjr, k rjgistjrjh

dusinjss nkaj bks nm fjgkf iapficktimns mtbjr tbkn kffmwing ymu tm usj knh trkhj unhjr tbkt

nkaj instjkh mo ymur mwn.

7+7+2 Nua$jr m* aja$jrs

*sukffy, in smfj trkhjr, tbjrj is nm mnj tm kssist biaJ it is k 0smfj6 trkhjr in tbj sjnsj tbkt

tbj mwnjr bks nm pkrtnjrsJ tbmugb in smaj cksjs bj aigbt jjp kn kssistknt mr k bjfpjr.

7+7+9 ;knkgjajnt

Omr smfj trkhjr, biring japfmyjjs aky dj hiooicuftJ tbis omra mo dusinjss wiff bkvj fiaitjh

fikdifity, tbjrjomrj, io tbj dusinjss is sujh, it is tbj mwnjrs prmdfja. Hj cknnmt sbrug bis

rjspmnsidifitijs. Hj wiff nmt dj kdfj tm prmtjct biasjfo dy skying tbkt tbj kct wks cmaaittjh dy

bis dusinjss knh nmt dy bia.

G


6/30

7+7+< Ck"itkf knh fik$ifit#

+n tbj jyjs mo tbj fkw, dmtb tbj mwnjr knh bis dusinjss krj tbj skaj. Xbj fkw hmjs nmt

akj kny histinctimn djtwjjn tbj mwnjr knh bis dusinjss. Xbjrjomrj, bis fikdifity is unfiaitjh, io

tbj dusinjss gmjs dknrupt mr rjcjivjrsbip, tbj mwnjr wiff bkvj tm cmugb amnjy orma bis mwn

kssjts knh oinkncikf rjsjrvjs tm pky tm tbj crjhitmrs knh fjnhjrs.

3 smfj trkhjr bks nm sjpkrktj fjgkf pjrsmnkfityJ bjncj, kny prmoits mr fmssjs akhj dy tbj

dusinjss krj djkr dy tbj smfj trkhjr, wbicb is sjjn ks tbj grjktjst ris mo tbis omra mo dusinjss.

Omr j7kapfj, tbjrj is k ckjaknuokcturjr, wbm is kfsm k smfj trkhjr, wbm intrmhucjs k

njw vkrijty mo ckj, tbining tbkt tbjrj is hjaknh omr tbis pkrticufkr vkrijty. +o tbj prmhuct turnsmut wjff, bj ckn tkj tbj crjhit. +o tbj prmhuct okifs knh ks k rjsuft bj suoojrs fmssjs, tbjn bj wiff

dj bjfh omr tbj fmssjs.

3 smfj trkhjr aky bkvj hiooicufty in rkising oinkncj, djckusj tbjy krj sakff, akny

oinkncikf institutimns cmnsihjr smfj trkhjr ks risy vjnturjs knh wiff nmt fjnh tbja fkrgj suas knh

tbjy wiff nmt dj kdfj tm usj kny mtbjr omra mo fmng-tjra oinkncj unfjss tbjy cbkngj tbjir

mwnjrsbip stktus.

9mfj trkhjr aky nmt kdfj tm rkisj ckpitkf mn bis mwn nmt fij in pkrtnjrsbip wbjrj tbjy krj

kdfj tm sbkrj tbj oinkncikf durhjn mo rkising ounhs.

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7/30

7+2 4KTXNJTS0I4

7+2+- Structurj

3 pkrtnjrsbip is hjoinjh dy tbj 4krtnjrsbi" Kct -61. in s+ -&-?ks kn

kssmciktimn mo twm mr amrj pkrtijs ckrrying mn k dusinjss in cmaamn witb k

vijw tm k prmoit.

3 pkrtnjrsbip is kfij tm tbj cmaing tmgjtbjr mo twm mr amrj smfj

trkhjrs, witb kff pkrtnjrs sbkring tbj prmoits knh fmssjs.

Ekrtnjrsbip ckn dj cmnsihjrjh ks k omra mo dusinjss mrgknizktimn grjw mut mo tbjfiaitktimns mo inhivihukf prmprijtmrsbipJ in smfj prmprijtmrsbip, tbj oinkncikf rjsmurcjs,

aknkgjrikf siff, ris djkring ckpkcity wjrj fiaitjh.


8/30

7+2+2 Nua$jr m* aja$jrs

Xbj ak7iaua nuadjr mo pjrsmns wbm cmufh dj ajadjrs mo k pkrticufkr pkrtnjrsbip wks

usukffy 5 &s+ >-= Cma"knijs Kct &CK? -16


9/30

7+2+= Ck"itkf knh fik$ifit#

3ftbmugb pkrtnjrs aky fiait k pkrtnjr1s kdifity tm jntjr intm cmntrkcts

mn tbj cmapkny1s djbkfo, tbis fiait mnfy kppfijs io tbj tbirh pkrty jntjring intm

tbj cmntrkct is kwkrj mo tbj fiaitktimn. +t is tbj pkrtnjrs1 rjspmnsidifity tm nmtioy tbirh pkrtijs tbkt k

pkrticufkr pkrtnjr is fiaitjh in bis mr bjr kdifity tm jntjr intm cmntrkcts. Xbus jvjry pkrtnjr is kn

kgjnt mo mtbjr pkrtnjrs knh kt tbj skaj tiaj mo tbj oira.

3 pkrtnjrsbip bks nm sjpkrktj fjgkf pjrsmnkfity jitbjr. X#"js m* "krtnjrs

Xbjrj krj twm typjs mo pkrtnjrs.

#jnjrkf pkrtnjrsbip is k pkrtnjrsbip in wbicb kff pkrtnjrs krj inhivihukffy fikdfjJ it bks kn

mdfigktimn mo strict fikdifity tm tbirh pkrtijs in2urjh dy tbj pkrtnjrsbip. #jnjrkf pkrtnjrs aky bkvj

2mint fikdifity mr 2mint knh sjvjrkf fikdifitijs hjpjnhing upmn circuastkncjs.


10/30

2+. J//JCX M/ TJ5ISXTKXIMN M/ K CM;4KN3

2+- Sj"krktj :jgkf 4jrsmnkfit#

mrpmrktj pjrsmnkfity rjojrs tm tbj okct tbkt ks okr ks tbj fkw is cmncjrnjh k cmapkny

rjkffy j7ists.

Xbj rjgistjrjh cmapkny fij k stktutmry cmapkny mr k cbkrtjrjh cmapkny is k

cmrpmrktimn, i.j. in tbj jyj mo tbj fkw it is kn krtioicikf fjgkf pjrsmn ks mppmsjh tm inhivihukfs

wbm krj nmwn ks nkturkf pjrsmns. 3s k pjrsmn, k cmapkny ckn hm kfamst jvjrytbing k buakn

pjrsmn ckn hmJ it ckn akj cmntrkcts, japfmy pjmpfj, dmrrmw knh pky amnjy, suj knh dj sujh,

kamng mtbjr tbings.

Xbj cmapkny djcmajs k fjgkf pjrsmn in its mwn rigbt, witb pmwjrs knh fikdifitijs ks kn

inhivihukf dut is histinguisbjh orma tbj ajadjrs it aky bkvj orma tiaj tm tiaj, histinct orma tbj

sbkrjbmfhjrs knh aknkgjajnt. Xbis wks sjjn in tbj okamus cksj mo 9kfmamn v 9kfmamn C m

&th (B8I).

Skfmamn v Skfmamn & Cm Fth (;297) KC 44

'r. 9kfmamn bkh k dmmt aknuokcturing dusinjss wbicb bj hjcihjh tm

incmrpmrktj intm k privktj fiaitjh cmapkny. 'r. 9kfmamn bkh djcmaj tbj

cmapkny1s principkf sbkrjbmfhjr knh its crjhitmr in 9kfmamn C m. &th kt

tbj skaj tiaj, sincj bj smfh bis dusinjss tm tbj njwfy omrajh cmapkny, 3

9kfmamn C m &th, knh tmm bis pkyajnt dy sbkrjs knh k hjdjnturj mr hjdt

mo L5,555. Xbus, bj bks djcmaj k sjcurjh crjhitmr dy tking k amrtgkgj hjdjnturj wbicb givjs

bia k rigbt tm dj jntitfjh tm dj pkih oirst ks k sjcurjh hjdjnturj bmfhjr wbjn tbj cmapkny intm

fi!uihktimn smaj yjkrs fktjr.

Xbj fi!uihktmr knh tbj mtbjr crjhitmrs md2jctjh tm tbis knh ksjh tbj cmurt tm rjsjrvj

9kfmamns hjdjnturj mn tbj grmunh tbkt bj cmufh nmt mwj amnjy tm biasjfo, cfkiaing tbkt it wks

unokir omr tbj pjrsmn wbm omrajh knh rkn tbj cmapkny tm gjt pkih oirst.

5


11/30

Hmwjvjr, tbj Hmusj mo &mrhs bjfh tbkt tbj cmapkny wks k hioojrjnt

fjgkf pjrsmn orma tbj sbkrjbmfhjrs, knh tbus 'r. 9kfmamn, ks k sbkrjbmfhjr

knh crjhitmr, wks tmtkffy sjpkrktj in fkw orma tbj cmapkny 3 9kfmamn C m

&th. Xbj rjsuft wks tbkt 'r. 9kfmamn wks jntitfjh tm dj rjpkih tbj hjdt ks tbj

oirst sjcurjh crjhitmr. Xbj hjcisimn cmnoirajh tbkt tbj usj mo hjdjnturjs

instjkh mo sbkrjs ckn ourtbjr prmtjct invjstmrs.


12/30

2+7 :iaitjh :ik$ifit#

=ncj incmrpmrktjh, k cmapknys ajadjrs jn2my fiaitjh fikdifity, prmvihjh tbkt tbjir

sbkrjs krj ouffy pkih up knh it is k fiaitjh cmapkny. Omr j7kapfj, io k cmapkny gmjs intm

fi!uihktimn mwing 55, 555, tbj hjdt is tbj hjdt mo tbj cmapkny, nmt mo tbj sbkrjbmfhjrs. Xbj

sbkrjbmfhjrs hjdts krj fiaitjh tm kny amnjy tbjy mwj omr tbj purcbksj mo tbjir sbkrjs.

3 cmapkny omrajh in cmapfikncj witb tbj rjgufktimns mo tbj mapknijs 3cts is k

sjpkrktj pjrsmn knh nmt tbj kgjnt mr trustjj mo its cmntrmffjr. 3s k rjsuft, tbj hjdts mo tbj cmapkny

wjrj its mwn knh nmt tbmsj mo tbj ajadjrs. Xbj ajadjrs fikdifity wks fiaitjh tm tbj kamunt

prjscridjh in tbj Cma"knijs KctE sjctimn -2&2?@ i.j. tbj kamunt tbjy invjstjh.

3nmtbjr gmmh iffustrktimn isFjj v Fjjs Kir Okraing (;9?;) K.C. ;4 (U.C.).'r. &jj

incmrpmrktjh k cmapkny, &jjs 3ir Okraing &iaitjh wbicb bj mwnjh kff tbj sbkrjs knh kfsm djjn

japfmyjh ks cbijo pifmt mo tbj cmapkny. +n 'krcb, 8G:, 'r. &jj wks iffjh in tbj pfknj crksb

wbifj bj is wmring, fjkving k wihmw knh omur inoknt cbifhrjn.

Xbj akttjr ckaj tm tbj %jw Fjkfknh murt mo 3ppjkf wbm omunh tbkt 'r. &jj

wks nmt k wmrjr witbin tbj ajkning mo tbj


13/30

2+2 4jr"jtukf Succjssimn

3 cmapkny hmjs nmt hij, mncj it omrajh, it wiff cmntinuj untif sucb tiaj ks its nkaj is

struc moo mr hissmfvjh tbrmugb k fjgkf prmcjss nmwn ks winhing up mr fi!uihktimn jvjn tbmugb

witbmut kny hirjctmrs, ajadjrs, japfmyjjs, dusinjss jtc knh k gmmh j7kapfj is sbmwn in tbj

cksj moj !mjf "jhakn #mfhings Ut$ Fth (;9?7) %h ?;.

'mrjmvjr, inK'hf Ki *in Ktkn & 27 +rs v Fkhkng "jngm ,kfk$ -stktj Shn *h

(;92) 4 ,F/ ;? 5ksjit sbmws tbj okct tbkt k ajadjr, jvjn mnj bmfhing mnj bunhrjh pjr cjnt

mo tbj cmapknys sbkrjs, hijs bks nm joojct mn tbj fjgkf j7istjncj mo tbj cmapkny i.j. ajadjrs

aky cmaj knh gm dut tbis stiff hmjs nmt koojct tbj fjgkf pjrsmnkfity mo tbj cmapkny.

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14/30

2+9 4mwjr tm mwn "rm"jrt#

3 cmapkny is ckpkdfj mo mwning prmpjrty, aking cmntrkcts, japfmying pjmpfj knh djing

sujh mr mo suing. Xbus, k cmapkny aky mwn prmpjrty histinct orma tbj prmpjrty mo its ajadjrs.

Xbj prmpjrty mo tbj cmapkny djfmngs tm tbj cmapkny itsjfo knh nmt tm tbj inhivihukf

ajadjrs, sm tbkt jvjn tbj fkrgjst sbkrjbmfhjr bks nm insurkdfj intjrjst tbj prmpjrty mo tbj

cmapkny. Xbjrjomrj, k cbkngj in ajadjrsbip mo k cmapkny wiff bkvj nm joojct mn tbj mwnjrsbip

mo tbj cmapknys kssjts.

+n,k5krk v !mrtjrn Kssrkn5j Cm. (;94) KC ?;9'r. 'kckurk wbm mwnjh kn

jstktj knh smaj tiadjr, stmrjh tbj tiadjr, wbicb kamuntjh tm njkrfy tbjjntirj kssjts mo tbj cmapkny mn tbj jstktj knh bj insurjh tbj tiadjr in bis

mwn nkaj. Xwm wjjs fktjr, k oirj hjstrmyjh kff tbj tiadjr mn tbj jstktj.

Xbj insurkncj cmapkny rjousjh tm pky mut krguing tbkt bj bkh nm

insurkdfj intjrjst in tbj tiadjr ks tbj tiadjr djfmngjh tm tbj cmapkny wbjn

'r. 'kckurk trijh tm cfkia unhjr tbj insurkncj pmficy dut.

Xbj Hmusj mo &mrhs bjfh tbkt tbj tiadjr djfmngjh tm tbj cmapkny knh nmt 'r. 'kckurk.

Kvjn tbmugb 'r. 'kckurk, mwnjh kff tbj sbkrjs in tbj cmapkny, dut bj bkh nm insurkdfj intjrjst

in tbj prmpjrty mo tbj cmapkny.

D


15/30

9+. X34JS M/ CM;4KNIJS

3 rjgistjrjh cmapkny aky dj fiaitjh mr unfiaitjh in tjras mo fikdifitijs.

3 fiaitjh cmapkny pmssidfy fiaitjh dy gukrkntjj mr dy sbkrjs.

3 cmapkny fiaitjh dy sbkrjs pjrbkps is k privktj mr pudfic cmapkny.

9+- Kn Znfiaitjh Cma"kn#

+n unfiaitjh cmapkny, tbj ajadjrs krj fikdfj omr tbj

hjdts mo tbj cmapknyJ tbj sbkrjbmfhjrs wiff fmsj kff tbjir

amnjy io tbj cmapkny gmjs dknrupt, knh kfsm ris fmsing

tbjir mwn prmpjrty in mrhjr tm pky tbj cmapkny1s hjdts wbicbis vjry siaifkr tm k pkrtnjrsbip mr smfj prmprijtmrsbip. Xbjy

aky dj fikdfj witbmut fiait mr fikdifity aky dj fiaitjh tm k

cjrtkin oigurj.

Xm kvkif mo k cmrpmrktj structurj, omr j7kapfj, wbjn duying prmpjrty, k pjrsmn aky

cbmmsj tm omra kn unfiaitjh cmapkny. 3s wjff, it bks k privkcy khvkntkgjJ unfiaitjh cmapknijs

hm nmt bkvj tm kttkcb kccmunts tm tbj knnukf rjturn

G


16/30

9+7 K Cma"kn# :iaitjh $# 5ukrkntjj

3 cmapkny fiaitjh dy gukrkntjj is k cmapkny tbkt gukrkntjjs tm pky its hjdts up tm k

cjrtkin fiait in tbj jvjnt mo tbj cmapkny djing wmunh up, wbifj tbjy krj k ajadjr mr witbin mnj

yjkr mo tbjir cjksing tm dj k ajadjr.

+n #ukrkntjj mapkny, tbj ajadjrs hm nmt prmvihj amnjy tm tbj cmapkny mn omraktimn

mr huring its fiojJ it hmjs nmt bkvj k sbkrj ckpitkf, dut bks ajadjrs wbm krj gukrkntmrs instjkh mo

sbkrjbmfhjrs.

9m it is suitkdfj omr cmapknijs tbkt wisb tm gjt fjgkf pjrsmnkfity knh fiaitjh fikdifity dut

hm nmt njjh tm rkisj amnjy orma its ajadjrs. Xbis omrakt is motjn usjh omr cbkritijs, cfuds knhnmnprmoit mrgknizktimns.

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17/30

9+2 K Cma"kn# :iaitjh $# Sbkrjs

3 cmapkny fiaitjh dy sbkrjs is tbj amst cmaamn typj mo cmapkny in 'kfkysik, is tbj

typj mo cmapkny cmaamnfy usjh omr omraing k sakff dusinjss.

+n tbis typj mo cmapkny, tbj fikdifity mo sbkrjbmfhjrs omr tbj hjdts mo k cmapkny is fiaitjh

tm kny kamunt unpkih mn tbjir sbkrjs.

%mrakffy, wbjn sbkrjbmfhjrs duy sbkrjs, tbjy pky omr tbja ouffy, sm tbjy tbjn bkvj nm

fikdifity tm tbj cmapkny io it gmjs intm hjdt, tbjy bkvj nm rjspmnsidifity tm pky amrj tbkn tbj

kamunt tbjy bkvj invjstjh.

Xbj purpmsj mo tbis typj mo cmapkny is tm trkhj knh akj prmoits 9bkrjs krj issujh knh

hirjctmrs krj kppmintjh dy tbj sbkrjbmfhjrs.

mapknijs fiaitjh dy sbkrjs aky hivihj intm twm cktjgmrijs wbicb krj pudfic fiaitjh

cmapknijs knh privktj fiaitjh cmapknijs.

I


18/30

9+2+- K 4riktj :iaitjh Cma"kn#

3 Erivktj fiaitjh cmapkny rjstricts tbj rigbts tm trknsojrs sbkrjs mo tbj cmapknyJ it

cknnmt sjff tbj sbkrjs tm gjnjrkf pudfic. Xbj nkaj mo privktj fiaitjh cmapkny jnhs witb tbj wmrh

;9jnhirikn jrbkh; mr kddrjviktimn ;9hn. bh.;. Xbj ainiaua nuadjr mo ajadjr is twm omr

privktj fiaitjh cmapknyJ tbj ak7iaua is oioty, j7cfuhing ajadjrs wbm krj japfmyjjs mr j7-

japfmyjjs mo tbj cmapkny.

9+2+7 K 4u$fic :iaitjh Cma"kn#

Eudfic cmapknijs aust bkvj k ainiaua mo twm ajadjrsJ tbjrj is nm ak7iaua nuadjr

mo ajadjrs. Xbjy sbmw tbjir pmsitimn dy using tbj kddrjviktimn ;bh.; mr tbj wmrh ;jrbkh;kotjr tbjir nkaj.

Eudfic fiaitjh cmapknijs incrjksj ckpitkf dy sjffing sbkrjs knh krj aknkgj dy k dmkrh mo

hirjctmrs sjfjctjh dy sbkrjbmfhjrs. Xbj sbkrjs krj orjjfy trknsojrkdfj dy skfj mn tbj 9tmc

K7cbkngj mr jfsjwbjrj. Eudfic fiaitjh cmapknijs ckn mnfy moojr sbkrjs tm tbj pudfic io k

prmspjctus wbicb ajjts tbj tjras witb tbj rj!uirjajnts mo tbj mapknijs 3ct 8:G bks djjn

rjgistjrjh witb tbj $jgistrkr mo mapknijs.

Eudfic fistjh cmapknijs krj fistjh jitbjr mn tbj 'kin mkrh mr tbj 9jcmnh mkrh mo tbj

A&9K. 3ny sudsj!ujnt issuj mo sjcuritijs sucb ks tbj issuj dy wky mo k rigbts mr dmnus rj!uirjs

tbj kpprmvkf mo tbj 9jcuritijs maaissimn.

B


19/30


20/30

=+. :I/XIN5 X0J CM4MTKJXJ _JI:

=+- Jcj"timns &:i*ting tbj _jif?

+n smaj cksjs, tbj 1vjif1 tbkt sbijfhs tbj mwnjr(s) orma fikdifity ckn dj rjamvjh, knh tbj

mwnjrs ckn dj jn2minjh intm tbj fkw suit. 9ucb incihjncjs bkppjn wbjn k cmrpmrktimn is nmt

suppmrtjh witb jnmugb kssjts tm dkfkncj its hjdts knh fikdifitijs.

Hmwjvjr, in smaj cmnhitimns, tbj cmurts bkvj tkj pfkcj tm hisrjgkrh mr ignmrj tbj hmctrinj mo

cmrpmrktj pjrsmnkfity knh fiaitjh fikdifity jspjcikffy in hjkfing witb grmup cmapknijs knh

sudsihikrijs knh wbjrj tbj cmrpmrktj omra is djing usjh ks k vjbicfj tm cmaait orkuh mr ks k

;ajrj okNkhj cmncjkfing tbj truj okcts.;

Xbj cmrpmrktj vjif ckn dj fiotjh in twm wkys>

() y spjcioic prmvisimn in fjgisfktimn

() 3nh dy hiscrjtimn mo tbj cmurts.

3ftbmugb tbj cksjs wbjn tbj vjif bks djjn fiotjh vkry witb tbj okcts mo tbj cksjs, tbjrj krj skih tm

dj tbrjj akin rjksmns wby tbis aky dj hmnj>

() Xm jnomrcj tbj prmvisimns mo cmapkny fkwJ

() Xm kvmih orkuhJ

(?) Xm hjkf witb k grmup mo cmapknijs.

&jgisfktivj fioting mo tbj vjif is usukffy omr purpmsjs mo jnomrcing cmapkny fkw, wbjrjks

tbj cmurts usukffy fiot tbj vjif tm prjvjnt orkuh.

5


21/30

=+7 :i*ting tbj _jif $# :jgisfktimnDKutmaktic

Xbj vjif wiff dj fiotjh kutmaktickffy knh tbjrj is nm orjjhma mo cbmicj, wbjn it is

spjcioijh in tbj mapknijs 3cts tbkt tbj cmrpmrktj vjif wiff dj fiotjh

=+7+- 8bjrj tbj nua$jr m* aja$jrs is fjss tbkn twm

*nhjr Sjctimn 2=) CK -1=2 io tbj nuadjr mo sbkrjbmfhjrs mo k cmapkny (j7cjpt k

cmapkny wbmsj issujh sbkrjs krj wbmffy bjfh dy k bmfhing cmapkny) is rjhucjh djfmw twm knh

tbj cmapkny trkhjs omr amrj tbkn si7 amntbs wbifj tbj nuadjr is sm rjhucjh, jvjry sbkrjbmfhjr

wbm nmws tbkt tbj cmapkny is trkhing witb fjss tbkn tbj stktutmry ainiaua, is pjrsmnkffy fikdfj

omr kff tbj hjdts mo tbj cmapkny cmntrkctjh kotjr tbmsj si7 amntbs knh aky dj sujh tbjrjomrj, knhsbkff kfsm dj guifty mo kn moojncj kgkinst tbj 3ct. Xbj cfkssickf cksj is!is'jt v Sjjrh (;993)

*CC 9;.

=+7+7 Zsj m* kn incmrrjct cma"kn# nkaj

*nhjr Sjctimn -7-) CK -1=2, kn mooicjr mo k cmapkny (tbj mooicjrs mo k cmapkny krj tbj

hirjctmrs knh sjcrjtkry) wbm signs mr kutbmrizjs tm dj signjh mn tbj cmapknys djbkfo kny diff mo

j7cbkngj, cbj!uj mr prmaissmry nmtj wbjrj prmvihjh tbkt tbj cmapkny okifs tm kooi7 its nkaj is

nmt prmpjrfy mr fjgidfy writtjn tbjrjmn, wiff dj pjrsmnkffy fikdfj omr tbj kamunt io unpkih dy tbj

cmapkny.

8rka Okn5$ :mmhs v ,i5kjf /k5smn (Okn5$ :mmhs) Fth (;9?2) 4 %* 29

3 hirjctmr mo tbj hjojnhknt cmapkny kutbmrizjh k cbj!uj akhj mut tm '. /kcsmn (Okncy

#mmhs) &th witbmut cmrrjcting it ks tbj truj nkaj mo tbj cmapkny is 0'icbjkf /kcsmn (Okncy

#mmhs) &iaitjh6 wbjrj 0'6 is nmt kn kddrjviktimn mo 0'icbjkf6. Xbj cmurt bjfh tbkt tbj

pfkintioos bkh kccjptjh kn incmrrjct vjrsimn mo tbj nkaj, tbus cmufh nmt rjfy mn sjctimn .


22/30

Finhmfst & Cm KS v Omfjr (;922) *CFC ;??

Xbj pfkintioo prjpkrjh omur diffs mo j7cbkngj in tbj nkaj mo mrdy bicjn m.. Xbj hjojnhknt

wks k hirjctmr mo tbj mrdy bicjn m. &th. Hj signjh cbj!ujs rjojrring tm tbj mrdy bicjn

m. witbmut khhing tbj suooi7 &th knh wks fikdfj unhjr sjctimn wbicb bjfh dy tbj murt mo

3ppjkf.

=+7+2 /rkuhufjnt Xrkhing

Sjctimn 2.9 &-? m* tbj Kctstktjs Ejrsmns wbm wjrj nmwingfy k pkrty tm tbj ckrrying mn

mo kny dusinjss mo tbj cmapkny witb tbj intjnt tm hjorkuh crjhitmrs mr omr kny orkuhufjnt purpmsj

aky dj pjrsmnkffy fikdfj tm akj sucb cmntridutimn tm tbj kssjts mo tbj cmapkny ks tbj cmurt aky

tbin prmpjrOrkuhufjnt trkhing is vjry hiooicuft tm prmvj knh is nmt hjoinjh dy stktutj djckusj it aust dj

sbmwn tbkt tbj hirjctmrs, in incurring tbj hjdts in !ujstimn, njw tbkt tbj cmapkny wmufh dj

unkdfj tm pky tbja.

=+7+9 Xk M**jncjs

*nhjrs-9. &-? m* tbj Incmaj Xk Kct -1=> kffmws tbj "irjctmr-#jnjrkf mo +nfknh

$jvjnuj tm ignmrj trknskctimns wbicb bkvj tbj joojct mo kvmihing mr jsckping tk7>S*U Shn *h

v 8irj5tmr :jnjrkf m< 0nfknh jvjnj (;922) ,S"C 43.


23/30

=+2 :i*ting tbj _jif $# tbj CmurtsDHiscrjtimnkr#

Xbj cksjs tbkt hjkf witb tbj cmurts fioting mo tbj vjif hm nmt okff intm njkt cktjgmrijs, dut

akny mo tbj cksjs bkvj k cmaamn tbrjkh. +n tbjsj cksjs, tbj cmurt wiff bkvj cmnsihjrkdfj

hiscrjtimn in hjcihing wbjtbjr tm fiot tbj vjif mo incmrpmrktimn.

=+2+- 8bjn tbj Cma"kn# 8ks /mrajh *mr /rkuhufjnt 4ur"msjs

Xbj cmurt aky j7trjajfy givj kn j!uitkdfj rjajhy kgkinst dmtb tbj cmapkny knh tbj

sbkrjbmfhjr, io tbj cmapkny is sjt up ks k cfmk mr sbka witb tbj hisbmnjst purpmsj mo jsckping

tbj prmamtjr mr sbkrjbmfhjrs j7isting mdfigktimns.

:if


24/30

=+2+7 8bjn tbj cmurts rjcmgni!j kn kgjnc# rjfktimnsbi"+

+o k sudsihikry cmapkny bkving pmwjr tm kct ks kn kgjnt aky hm sm ks kn

kgjnt omr its pkrjnt cmapkny, mr cjrtkinfy omr kff mr kny mo tbj inhivihukf

ajadjrs io it mr tbjy kutbmrizj it tm hm sm, it aky dj dmunh dy tbj skaj

fikdifitijs knh rigbts mo its bmfhing cmapkny.

9m fmng ks tbmsj kcts krj witbin kctukf mr kppkrjnt scmpj mo tbj kutbmrity, tbj pkrjnt

cmapkny mr tbj ajadjrs wiff dj dmunh dy tbj kcts mo its kgjnt.

ut in tbj kdsjncj mo kn j7prjss kgrjjajnt, tbjrj is nm prjsuaptimn mo kny sucb

rjfktimnsbip djtwjjn tbj pkrtijsJ it wiff dj hiooicuft tm jstkdfisb mnj.

Xbus, tbj cmrpmrktj vjif sbkff dj fiotjh knh tbj principkf sbkff dj fikdfj omr tbj kcts mo tbj

kgjnt in cksjs wbjrj tbj kgjncy kgrjjajnt bmfhs gmmh knh tbj pkrtijs cmncjrnjh bkvj j7prjssfy

kgrjjh tm sucb kn kgrjjajnt.

Xbmugb, nm cmurt bks yjt omunh sudsihikry cmapknijs fikdfj omr tbjir bmfhing cmapknys

hjdts.

Sait Stmnj & 6nigt Fth v *iraingka Cmrmrktimn (;99) Kff - ;;?

9aitb, 9tmnj C Anigbt &th mwnjh smaj fknh, knh k sudsihikry cmapkny mpjrktjh mn tbis fknh.

Xbj sudsihikry cmapkny is iraingbka mrpmrktimn tbkt mccupijh tbj fknh knh mpjrktjh k

dusinjss tbjrj. iraingbka mrpmrktimn bkh issujh kn jnomrcjh purcbksj mrhjr mn tbis fknh. 3ny

cmapkny wbicb mwnjh tbj fknh wmufh dj pkih omr it, knh wmufh rjksmnkdfy cmapjnsktj kny

mwnjr omr tbj dusinjss tbjy rkn mn tbj fknh. iraingbka mrpmrktimn cfkiajh tbjy wjrj jntitfjh

tm nm cmapjnsktimn sincj tbjy hih nmt mwn tbj fknh. Xbj cmurts bjfh tbkt tbj sudsihikry cmapkny

wks kn kgjnt knh iraingbka mrpmrktimn aust pky cmapjnsktimn.

D


25/30

=+2+2 8bjn tbj jntitijs krj cmnsihjrjh tm $j k singfj jcmnmaic unit+

3s k gjnjrkf rufj, tbj cmurts bkvj trjktjh jkcb cmapkny in tbj grmup ks sjpkrktj> mnj

cmapkny is nmt fikdfj omr knmtbjrs hjdts, knh tbis gjnjrkffy j7tjnhs tm mtbjr fikdifitijs.

8.#.!. Ommh 8istri'tmrs Fth. v "mjr #kafjts Fmnhmn *mrmg Cmn5if 1;97?> Kff -

3?4

3 sudsihikry cmapkny mo "H% Ommh "istridutmrs &th mwnjh fknh wbicb &mnhmn mrmugb mo

Xmwjr Hkafjts issujh k cmapufsmry purcbksj mrhjr mn. Xbj cmapkny running tbj dusinjss wks

tbj bmfhing cmapkny knh tbj prjaisjs wjrj mwnjh dy tbj cmapknys wbmffy mwnjh sudsihikry.

Xbj cmurts bjfh tbkt "H% Ommh "istridutmrs &ths sudsihikry wks k singfj jcmnmaic unit knh

wks kdfj tm cfkia cmapjnsktimn djckusj it.

Khkas v Ckj 0nhstrijs f5 knh Knmtjr (;99;) ; Kff - 949

3 wmrjr, 3hkas wbm wmrjh omr k *9 sudsihikry mo kpj +nhustrijs pfc, wbicb akrjtjh

ksdjstms in tbj *9 bkh suoojrjh in2urijs tbrmugb j7pmsurj tm ksdjstms

hust knh wkntjh tm suj. Xbis cksj wks drmugbt kgkinst tbj *A pkrjnt

cmapkny djckusj its *9 sudsihikry bkh nm kssjts, bj wmufh bkvj

rjcjivjh nm cmapjnsktimn sincj tbjrj wks nm amnjy tm pky mut. Xbj

cmurt mo kppjkf rjousjh tm trjkt tbj *A pkrjnt cmapkny, its *9 sudsihikry knh kn inhjpjnhjnt *9

cmrpmrktimn tbrmugb wbicb it akrjtjh ksdjstms in tbj *nitjh 9tktj ks k singfj jcmnmaic unit, mr

tm fiot tbj vjif mo incmrpmrktimn. Xbis ajkns tbkt tbj pfkintioo jvjn io succjssouf in tbjir kctimn

kgkinst tbj *9 sudsihikry wmufh rjcjivj nm cmapjnsktimn sincj tbj sudsihikry bkh nm kssjts.

G


26/30

=+2+9 In cksjs m* nktimnkf jajrgjn5$) tbj cmurts ak# njjh tm cmnsihjr mwnjrsbi" m*

cma"knijs+

Xbj cmurts bkvj mccksimnkffy rkisjh tbj vjif knh fmmjh kt tbj sbkrjbmfhjrs tm hiscfmsj k

cmapknys nktimnkfity in wkrtiaj, mr mtbjr nktimnkf jajrgjncijs wbjrj sknctimns krj iapmsjh.

8kiafjr Cm Fth v Cmntinjntkf "$rj knh ''jr (:*) Fth (;9;?) 4 KC =7

mntinjntkf Xyrj knh $uddjr (#) &th wjrj rjgistjrjh in ritkin. mntinjntkf Xyrj knh $uddjr

(#) &th sujh "kiafjr m &th omr hjdts mwing. mntinjntkf Xyrj knh $uddjr (#) &th wks k

*A cmapknyJ bmwjvjr kff sbkrjbmfhjrs dut mnj wjrj #jraknJ kfamst kff

mo tbj sbkrjs wjrj #jrakn mwnjh. "kiafjr m &th cfkiajh tbkt tbjy

sbmufh nmt pky tbj hjdt tm #jrakn inhivihukfs tm prjvjnt amnjy gmingtmwkrhs #jraknys wkr joomrt. Xbj cmurt bjfh tbkt mntinjntkf Xyrj knh

$uddjr (#) &th (8:) wks #jrakn.

:


27/30

>+. Cmncfusimn

Xbrmugb tbis kssignajnt, wj ckn unhjrstknh knh nmw tbkt k cmapkny mncj

incmrpmrktjh, it djcmajs kn krtioicikf fjgkf pjrsmn wbicb rjcmgnizjh dy tbj fkw tbkt sjpkrktj knh

histinct orma its ajadjrs knh sbkrjbmfhjrs knh ckpkdfj mo bkving its mwn rigbts, hutijs knh

mdfigktimn knh ckn suj mr dj sujh in its mwn nkaj.

Xbus, 2ust fijKa$rmsj ijrcj&-697%c+ -1-9?) Kajrickn writjrskih ;Cmrpmrktimn. Kn

ingjnimus hjvicj omr mdtkining inhivihukf prmoit witbmut inhivihukf rjspmnsidifity.;.

Hmwjvjr, tbjrj stiff bkvj smaj circuastkncjs tbkt tbis hmctrinj mr principfj mo cmrpmrktj

pjrsmnkfity wbicb ckrrijs witb tbj cmncjpt mo fiaitjh fikdifity aky hisrjgkrh mr ignmrj dy tbjcmurt jspjcikffy in hjkfing witb grmup cmapknijs knh sudsihikrijs knh wbjrj tbj cmrpmrktj omra

is djing usjh ks k vjbicfj tm pjrpjtrktj orkuh mr ks k ;ajrj okMUkhj cmncjkfing tbj truj okcts.;

Xbj iakgj moSir Jhwkrh Cm`j &-


28/30

"fk#s) "m"ufkr rmakncjs) knh bistmrickf nmjf skih tbkt "Dusinjss, tbkt's jksify hjoinjh0 it's

mtbjr pjmpfj's amnjy."

0krmfh S+ 5jnjjn) kn Kajrickn $usinjssakn skih tbkt ;n dusinjss, wmrhs krj wmrhs0

jxpfknktimns krj jxpfknktimns, prmaisjs krj prmaisjs, dut mnfy pjromrakncj is rjkfity6.

9m in mrhjr tm jkrn amrj amnjy in tbj dusinjss, tbj pjromrakncj tbkt sbmufh cmntridutj in

tbj dusinjss, tbj jooicijncy mo using tbj nmwfjhgj knh siff mo bknhfing k dusinjss in turn tm

succjss is iapmrtknt kftbmugb wj bkvj nmw tbj khvkntkgjs knh hiskhvkntkgjs mo mur dusinjss

omra. 3nh dksjh mn tbis, wj kfsm sbmufh usj tbj khvkntkgjs mo dusinjss omra tbkt wj bkvj in

prmpjr wky nmt inkpprmpriktj wky 2ust fij tbmsj vjif-pijrcing cksjs tbkt bkh sbmwn in tbj

kssignajnt.


29/30

TJ/JTJNCJ

mms>

#jmoorjy 'mrsj. bkrfjswmrtbs mapkny &kw. ?tb jhitimn.

%mtjs>

%mtjs orma fjcturjr, "$. #=EK%3XH3% $3'3% %3+$

+ntjrnjt>

Hjfpfinjfkw.cma. 55?-55G. 0&kw Oira - %jpkf &kwyjrs - njpkf +ncmrpmrktimn mo mapkny -

&kw ...6 [=nfinjT

bttp>44www.bjfpfinjfkw.cma4krticfj4njpkf48? [kccjssjh 8 "jc 558T

09kfmamn v. 9kfmamn C m. - kcgrmunh6 [=nfinjT

bttp>44www.j7pjrijncjojstivkf.cma4skfmamnSvSskfmamnSkapScmS-Sdkcgrmunh [kccjssjh 8

"jc 558T

44www.dmmrkgs.cma4wii49kfmamnSv.S9kfmamnSCSm. [kccjssjh 8 "jc 558T

'h. $mhzi Hkrun.88B. 0%kturj mo k mapkny6 [=nfinjT

bttp>44ajadjrs.tripmh.cma4Zsykrikt4jssjntikf.btaf [kccjssjh 8 "jc 558T

44sakffdusinjss.sab.cma.ku4stkrting4fjgkf4tbj-smfj-trkhjr-85:88:G5.btaf [kccjssjh 8 "jc

558T

8
mailto:[email protected]:[email protected]


30/30

+'3 jkr =nj &ioting tbj _jif mo +ncmrpmrktimn6 [=nfinjT

bttp>44www.jcmnmaic-trutb.cm.u4ciak4nmtjs4fkw?.pho [kccjssjh 8 "jc 558T

/mnjs maaunicktimns &th. 55G - 558. 0&ioting Xbj _jif =o +ncmrpmrktimn6 [=nfinjT

bttp>44www.2mnjsdkbkaks.cma4njws4?G43$X+&K4:IG455I-5-?.btaf [kccjssjh 8 "jc558T

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