These Regulations modernises the administrative framework for the issuance of individual and class licenses in Malaysia. The amendments primarily update statutory references by replacing the repealed Companies Act 1965 with the Companies Act 2016 and reflect changes in ministerial nomenclature to the Minister of Environment and Water. Key procedural updates include adjusting the validity periods for individual licenses to durations not exceeding five or ten years and modifying the prescribed application forms to require more detailed disclosure of shareholding particulars, including ultimate beneficial, foreign, and local shareholders.
Malaysia · 2022-03-30