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Changes in Company Limited by Guarantee

Updated: Jul 24, 2022

Application to Hold, Dispose or Charge Land or Property

A CLBG shall not hold, acquire, charge, mortgage, sell, lease or dispose, a land or property unless a licence has been obtained from the Minister.

A CLBG shall hold, acquire, charge, mortgage, sell, lease or dispose, the land or property subject to the approval of the Minister.

Amendment of Constitution

Prior approval from the Registrar must be obtained to amend the constitution of a CLBG.

Segmental Reporting

The Registrar may require a CLBG to submit a segmental reporting together with its financial statements.

Other General Requirements

Unless prior approval has been obtained from the Registrar, a CLBG:

(a) is prohibited to appoint new directors;

(b) is prohibited from paying any fees, salaries, fixed allowances or any benefits to its directors;

(c) must use the profits and other income for the purposes stated in the objects of the company;

(d) is prohibited to solicit any contribution or donation or make any money collection from the public;

(e) is prohibited from incorporating or holding any subsidiary (save for CLBG with the word Berhad incorporated prior to 31 January 2017 where its existing Constitution does not contain similar restriction); and

(f) is required to comply at all times with all the provisions set forth in the constitution, other than the conditions mentioned above.

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