Interest Schemes Act 2016

Interest schemes are an alternative mode of raising funds for a company by pooling financial contribution from the public in exchange for an interest in a particular interest scheme.

Interest schemes act 2016. The interest schemes bill 2015 has received royal assent on 31 august 2016 and has been gazetted as the interest. Neither the new companies act 2016 nor the interest schemes act has been brought into force as at the date of this article. Laws of malaysia act 778 interest schemes act 2016 an act to provide for the registration administration and dissolution of schemes relating to interests and related matters. Interest schemes are currently regulated under division 5 interests other than shares debentures etc of part iv of the companies act 1965 but are excluded from the new companies act 2016.

Company business creativity has led to the creation of interest schemes. Both statutes have been gazetted as the companies act 2016 and the interest schemes act 2016 respectively. The act came into op er a tion on jan 31 2017 on the same day the new com pa nies act 2016 was ef fec tive. The interest schemes act 2016 was introduced to regulate the interest schemes the alternative mode of fund raising activities for companies by pooling financial contribution from the public in exchange for an interest in a particular interest scheme.

Upon the interest schemes act coming into effect interest schemes would be regulated under a separate legislation. Interest schemes act 2016. Faq on interest schemes act 2016. On 31 august 2016 the companies bill 2015 together with the interest schemes bill 2015 received royal assent.

Overview of the interest schemes act 2016. These legislation are not yet in force but are expected to come into. The interest schemes act 2016 was introduced to regulate the interest schemes the alternative mode of fund raising activities for companies by pooling financial contribution from the public in exchange for an interest in a particular interest scheme. The interest schemes bill 2015 has received royal assent on 31 august 2016 and has been gazetted as the interest schemes act 2016 interest schemes act on 15 september 2016.

The act is also an ini tia tive to in tro duce a stand alone and sep a rate leg is la tion gov ern ing the frame work of in ter est schemes pre vi ously found in divi sion 5 part iv of the com pa nies act 1965. New companies act 2016 and interest schemes act 2016 gazetted.