WHAT IS A DEED OF MUTUAL COVENANT? A Deed of Mutual Covenant (“DMC”) is a document containing terms that are binding on all flat owners of a multi-unit or multi-storey building. Once a DMC is signed by the owner of…
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Pre-Contractual Disclosure For Insurance Policy
Pre-contractual Duty of Disclosure for Insurance Contracts In Malaysia, the insurance industry and its equivalent under Islamic law (ie: Takaful) are regulated by Bank Negara Malaysia under the Financial Services Act 2013 (“FSA”) and the Islamic Financial Services Act…
The Impact Of Brexit On Financial Services In The UK
The Impact of Brexit on Financial Services in the UK On 23 June 2016, the UK electorate voted to leave the European Union in the Brexit referendum. This historic decision raises significant consequences for those financial institutions based in the…
[Member] Judicial Challenges Against Arbitral Awards
An expanded scope for judicial challenges against arbitral awards In Far East Holdings Bhd & Ors v Majlis Ugama Islam dan Adat Resam Melayu Pahang (2017), the Federal Court made important some changes to Malaysian arbitration law: An expanded scope…
Mortgage Reducing Term Assurance (MRTA)
Mortgage Reducing Term Assurance (MRTA) is sometimes referred to as Mortgage Life Insurance. If you are taking a housing loan to buy a property, chances are that you will be required to pay for MRTA by the bank as part of your…
The Valuers, Appraisers and Estate Agents (Amendment) Act 2017 Passed
The Valuers, Appraisers and Estate Agents (Amendment) Act 2017 Passed The Valuers, Appraisers and Estate Agents (Amendment) Act 1981 has come into force on 2 Jan 2018. The primary aim of the Amendment Act is to expand the scope to…
Interest Rate For Credit Sales
Interest Rate for Credit Sales Capped At 15% From 1 Jan 2018 The Consumer Protection (Credit Sale) Regulations 2017 come into force on 1 January 2018. These Regulations apply to all registered businesses which involve in credit sale transactions,…
10 Things You Need To Know About The Strata Titles Act
STRATA TITLES (AMENDMENT) ACT 2001 The Strata Titles (Amendment) Act 2001 (Act A1107) (‘the amendment Act’) is introduced to amend the Strata Titles Act 1985 (‘the principal Act’). The amendment Act is largely designed to improve the mechanism of…
Introduction to Limited Liability Partnership
LLP: An alternative business structure to partnership or company Prior to the Limited Liability Partnership (LLP) Act 2012, entrepreneurs can either become sole traders, or form a partnership or set up a company. The LLP Act 2012 introduces an…
An Introduction To Intellectual Property
Upon mentioning ‘intellectual property’ (IP), many of you can relate it to terms such as trademark, patent and copyright. This article explains the difference in these terms to help you better understand and secure your IP rights. TRADEMARK What is…
[Member] Credit Transfer in Malaysia
Moving Towards Interoperable Credit Transfer in Malaysia Credit transfer means a payment service which allows a payer to instruct the institution with which the payer’s account is held to transfer funds to a beneficiary. For example, it is common that…
Tax Exemption on Rental Income
TAX EXEMPTION ON RENTAL INCOME FROM RESIDENTIAL HOMES RECEIVED BY MALAYSIAN RESIDENT INDIVIDUALS Current position Pursuant to section 4(d) of the Income Tax Act 1967, Malaysian individuals who lease out their residential homes must pay a progressive income tax ranging…
[Member] New (Proposed) Regulations For Cryptocurrencies In Malaysia
On 14th Dec 2017, Bank Negara Malaysia (“BNM”) has issued for public consultation an exposure draft on the invocation of reporting obligations on cryptocurrency exchange business as “reporting institutions” under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities…
Artificial Reproduction: Surrogacy
ARTIFICIAL REPRODUCTION AND WHAT IT MEANS?
Discharge of Bankruptcy Part I
Normally, once you are adjudged a bankrupt, you can apply to the official assignee for discharge via a proposition for settlement.
Director’s Duties
Directors’ duties and liabilities in a company The directors powers and duties are stated in the articles of association and also the board where the power of management lies. According to Section 122 of the Companies Act 2016, every company…
[Member] Initial Coin Offering (ICO) as a New Way of Fundraising?
In the Western countries, Initial Coin Offerings (ICOs) have emerged as a popular new form of fundraising.
Purchasing Auction Properties
Purchasing properties in Malaysia has caused various psychological barriers on many purchasers even though the price of the said property is said to be cheaper than market value.
Is Malaysia Ready For Self-Driving Cars?
Self-driving cars, also known as “autonomous cars”, are “smart cars” which can manoeuvre themselves on planned routes without human input.
Marital and Legal Communication
Marital Communication Privilege SECTION 122 OF THE EVIDENCE ACT 1950 No person who is or has been married shall be compelled to disclose any communication made to him during marriage by any person to whom he is or has been…