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Companies Act also reveals providing assistance and remedies to the aggrieved
parties rather than concentrating on punishing the offenders. 55
Due to the British administrative structure in Malaya, before the Second World War,
there was no uniform company legislation applicable throughout Malaya. Initially,
the Straits Settlements applied the Indian Companies Ordinance 1866. 56 The Indian
legislation was later repealed and replaced by the Straits Settlements Ordinance 1889
which constituted the first local company legislation. 57 The 1889 legislation was later
repealed and replaced in 1915 and 1923 and continued until the introduction of the
Straits Settlements Companies Ordinance 1940. 58
In the Federated Malay States, the statute applicable was the Companies Enactment
1897 which was later repealed and replaced by the Companies Enactment 1917,
while in those outside the federation, each has its own separate but similar
companies statute. 59 Although there were separate laws governing the states of
Malaya, the basic principles of the statute remained similar because they were based
on the English law at the time. 60
English law was first introduced into Malaya through the first Royal Charter of
Justice 1807 which applied only to Penang. 61 This was later followed by the second
55 See Company Law Review Steering Group “Modern Company Law for a Competitive Economy:
The Strategic Framework” A Consultation Document (DTI, London, 1999)
at June 2010 [The Steering Group].
56 Since Straits Settlements formed part of India, any Statutes enacted in India before 1 April 1867
were extended to Straits Settlements. -Wan Arfah and Ramy Bulan An Introduction to Malaysian
Legal System (Fajar Bakti, Malaysia, 2003 ) at 107.
57 Wan Arfah and Ramy Bulan, ibid.
58 Malaysia Company Law Reform Committee “Strategic Framework for the Corporate Law Reform
Programme of Companies Commission of Malaysia” A Consultation Document (2006) at 12
[CLRC ].
59 Ibid.
60 Ibid.
61 Wu Min Aun, Malaysian Legal System (3 nd ed, Longman, Malaysia 2005) at 17-21.
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