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Distribution of profits under the companies act 2016: satisfying the insolvency test / Hariati Mansor

Under the law, distribution of profits or dividends may only be paid to members of a company if there are profits available for that purpose. The Companies Act 2016 requires that the company can only make the distribution to the shareholders out of profit if the company is solvent. Previously, in th...

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Main Author: Mansor, Hariati
Other Authors: Md Kassim, Fazdilah
Format: Book Section
Language:English
Published: UiTM Cawangan Johor 2019
Subjects:
Profits. Corporate profits
Insolvency and bankruptcy. Creditors' rights
Online Access:http://ir.uitm.edu.my/id/eprint/38205/1/38205.pdf
http://ir.uitm.edu.my/id/eprint/38205/
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spelling my.uitm.ir.382052020-12-14T05:52:32Z http://ir.uitm.edu.my/id/eprint/38205/ Distribution of profits under the companies act 2016: satisfying the insolvency test / Hariati Mansor Mansor, Hariati Profits. Corporate profits Insolvency and bankruptcy. Creditors' rights Under the law, distribution of profits or dividends may only be paid to members of a company if there are profits available for that purpose. The Companies Act 2016 requires that the company can only make the distribution to the shareholders out of profit if the company is solvent. Previously, in the Companies Act 1965, the company can pay dividends to its shareholders out of its profits and there is no requirement that the company must fulfill the solvency test. The aim of this paper is to look at the new requirement of solvency test and in what circumstances the company can pay out its dividends. It also examines the effects of non-compliance with the solvency requirements and the implications to the company and directors (if any) under the Act. UiTM Cawangan Johor Md Kassim, Fazdilah Ratan Singh, Deepak Singh M Ramakrishnan, Kamalanathan Sumery, Zuraidah Sarijari, Haniza Mohd Yusof, Fairuz Husna Amat, Dia Widyawati Kamaludin, Puteri Nur Hidayah Daud, Derwina 2019 Book Section PeerReviewed text en http://ir.uitm.edu.my/id/eprint/38205/1/38205.pdf Mansor, Hariati (2019) Distribution of profits under the companies act 2016: satisfying the insolvency test / Hariati Mansor. In: The 6th International Accounting & Business Conference 2019. Secretariat of IABC 2019, 6th . UiTM Cawangan Johor, Segamat Johor, p. 47. IABC2019-024
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
topic Profits. Corporate profits
Insolvency and bankruptcy. Creditors' rights
spellingShingle Profits. Corporate profits
Insolvency and bankruptcy. Creditors' rights
Mansor, Hariati
Distribution of profits under the companies act 2016: satisfying the insolvency test / Hariati Mansor
description Under the law, distribution of profits or dividends may only be paid to members of a company if there are profits available for that purpose. The Companies Act 2016 requires that the company can only make the distribution to the shareholders out of profit if the company is solvent. Previously, in the Companies Act 1965, the company can pay dividends to its shareholders out of its profits and there is no requirement that the company must fulfill the solvency test. The aim of this paper is to look at the new requirement of solvency test and in what circumstances the company can pay out its dividends. It also examines the effects of non-compliance with the solvency requirements and the implications to the company and directors (if any) under the Act.
author2 Md Kassim, Fazdilah
author_facet Md Kassim, Fazdilah
Mansor, Hariati
format Book Section
author Mansor, Hariati
author_sort Mansor, Hariati
title Distribution of profits under the companies act 2016: satisfying the insolvency test / Hariati Mansor
title_short Distribution of profits under the companies act 2016: satisfying the insolvency test / Hariati Mansor
title_full Distribution of profits under the companies act 2016: satisfying the insolvency test / Hariati Mansor
title_fullStr Distribution of profits under the companies act 2016: satisfying the insolvency test / Hariati Mansor
title_full_unstemmed Distribution of profits under the companies act 2016: satisfying the insolvency test / Hariati Mansor
title_sort distribution of profits under the companies act 2016: satisfying the insolvency test / hariati mansor
publisher UiTM Cawangan Johor
publishDate 2019
url http://ir.uitm.edu.my/id/eprint/38205/1/38205.pdf
http://ir.uitm.edu.my/id/eprint/38205/
_version_ 1687396688986112000
score 13.211869

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