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Companies Act 1957

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  • Essay length: 2228 words
  • Submitted: 19/06/2006
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The first 200 words of this essay...

COMPANY LAW

Companies Act 1957

It is an act to provide for the incorporation and registration of companies in Brunei, to control and regulate the relation between members of a company and its creditors and the company and between the company and its creditors and the public, to provide for the conditions under which companies incorporated outside Brunei may carry on business in Brunei and generally to control the functioning within Brunei of companies registered locally or carrying on businesses within Brunei. The Companies Act is enacted on 1st January 1957. this applies to every company registered in Brunei irrespective of the place or places where the business of such company may be carried on.

Rules and Fees (General Rules)

1) The Chief Justice may, with the occurrence of His Majesty make general rules for carrying into effect the objects of this Act so far as relates to the winding up of companies, and also rules for the purposes of this Act generally, including rules as to costs.

2) Minister of Law with the approval of His Majesty The Sultan and Yang Di-Pertuan:

a) the manner in which applications by persons desirous of

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