The Circular Resolution of Shareholders is a crucial corporate governance tool in Malaysian business practice, authorized under the Companies Act 2016. This document type is particularly valuable when companies need to obtain shareholder approval efficiently without the logistical challenges of organizing physical meetings. It's commonly used for routine matters such as approval of financial statements, appointment of directors, declaration of dividends, or other corporate actions requiring shareholder consent. The resolution must be circulated to all shareholders, and once signed by the required majority, it has the same legal effect as a resolution passed at a general meeting. This method is especially useful for companies with shareholders in different locations or when urgent decisions are needed. However, certain matters, such as removal of directors or auditors, still require physical meetings under Malaysian law.
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1. Company Details: Full legal name of the company, registration number, and registered address
2. Date: The date of circulation of the resolution
3. Title: Clear identification as a Circular Resolution of Shareholders
4. Recitals: Brief background explaining why the resolution is being proposed
5. Resolution Text: The exact wording of the resolution(s) being proposed for approval
6. Declaration: Statement confirming that the resolution shall be valid once signed by the required majority of shareholders
7. Signature Blocks: Spaces for shareholders to sign, including their names, shareholding details, and date of signing
8. Notice of Passing: Statement indicating when and how shareholders will be notified of the resolution being passed
1. Explanatory Notes: Detailed explanation of the resolution's purpose and effects, used when the resolution involves complex matters
2. Voting Requirements: Specification of the majority needed, used when different from standard requirements
3. Time Limit: Specific deadline for response, used when urgent action is required
4. Dissenting Rights: Information about rights of dissenting shareholders, used for significant corporate actions
5. Return Instructions: Specific instructions for returning signed resolutions, used when special handling is required
1. Supporting Documents: Any relevant documents referenced in the resolution (e.g., financial statements, valuations)
2. Shareholding Details: Current shareholding structure of the company
3. Previous Resolutions: Copies of related previous resolutions if referenced in the current resolution
4. Legal Certificates: Any required legal or regulatory certificates related to the resolution
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