Thehighcourtheldthatthedefendantscompany

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Unformatted text preview: company, a company limited by shares, could impose a monthly surcharge of RM2,000 on its members to help the company meet its overheads. The High Court held that the defendant’s company could not impose the surcharge, as it was contrary to the conceptThe High Court held that the Act had expressly provided that on winding up, in the case of a company limited by shares, no contribution will be required from any member exceeding the amount, if any, unpaid on the shares in respect of which he is liable as a present or of limited liability as provided for by the Act. past member: s 214 (1) (d). Limited by Guarantee Limited by Guarantee y The Companies Commission of Malaysia (the CCM) has issued these Guidelines to provide assistance on the registration of a company limited by guarantee (CLBG). unlimited liability unlimited liability An unlimited company is defined in s...
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