An Affidavit of Business Closure is a crucial legal document required in Malaysia when formally closing down a business operation. This document is typically prepared when a business ceases operations and needs to provide formal notification to authorities and stakeholders. It must comply with the Statutory Declarations Act 1960 and other relevant Malaysian business legislation. The affidavit serves multiple purposes: it provides official notice of business termination, confirms the settlement of business obligations, declares the status of assets and liabilities, and helps protect the business owner from future claims. This document is particularly important for maintaining proper records with the Companies Commission of Malaysia (SSM) and other regulatory bodies.
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1. Title and Introduction: Formal title of the affidavit and statutory declaration opening statement
2. Deponent Information: Full name, NRIC/passport number, and address of the person making the affidavit
3. Business Details: Complete business name, registration number, business address, and type of business entity
4. Authority Statement: Declaration of the deponent's position and authority to make the affidavit
5. Closure Declaration: Formal statement declaring the business closure, including the effective date
6. Reason for Closure: Statement explaining the primary reasons for closing the business
7. Settlement of Obligations: Declaration regarding the status of business debts, liabilities, and obligations
8. Verification Statement: Standard affirmation of the truth of the statements made
9. Execution Block: Space for signature, date, and commissioner for oaths certification
1. Employee Statement: Declaration regarding the status of employees and settlement of employment-related obligations - required if the business had employees
2. Tax Compliance Statement: Declaration regarding the status of tax filings and payments - recommended for businesses with significant tax obligations
3. Asset Disposition: Statement regarding the disposal or transfer of business assets - needed for businesses with significant assets
4. Outstanding Contracts: Declaration regarding the status of business contracts and their termination - required if there are ongoing contracts
5. Shareholder Resolution: Reference to shareholder approval for closure - required for companies with multiple shareholders
1. Business Registration Certificate: Copy of the original business registration certificate
2. Closure Notice: Copy of any official notice of closure filed with relevant authorities
3. Tax Clearance: Evidence of tax clearance or final tax returns
4. Employee Settlements: Documentation of employee termination and settlement of dues
5. Bank Account Closure: Evidence of closure of business bank accounts
6. Publication Notice: Copy of any public notice of business closure if required
Relevant legal definitions
Clauses
Relevant Industries
Retail
Manufacturing
Services
Technology
Construction
Food and Beverage
Healthcare
Education
Professional Services
Transportation
Agriculture
Real Estate
Relevant Teams
Legal
Finance
Human Resources
Compliance
Tax
Operations
Administrative
Corporate Secretarial
Relevant Roles
Business Owner
Managing Director
Company Secretary
Chief Financial Officer
Legal Counsel
Human Resources Manager
Accountant
Tax Manager
Compliance Officer
Operations Manager
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