The Memorandum of Association of Cosmetic Company is a crucial incorporation document required under Malaysian law when establishing a company in the cosmetics sector. This document serves as the company's constitution and is mandatory under the Companies Act 2016, setting out the framework within which the company will operate. It defines the relationship between the company and external stakeholders, outlines permitted business activities specifically related to cosmetics manufacturing and trading, and establishes the company's powers and limitations. The document must be filed with the Companies Commission of Malaysia (SSM) during incorporation and needs to align with various regulatory requirements, including those from the National Pharmaceutical Regulatory Agency (NPRA) for cosmetics operations. It's particularly important for ensuring compliance with both corporate law and industry-specific regulations in Malaysia's cosmetics sector.
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1. Name Clause: States the registered name of the company as approved by the Companies Commission of Malaysia
2. Registered Office Clause: Specifies that the registered office of the company will be situated in Malaysia
3. Objects Clause: Details the primary and ancillary business objectives, specifically focusing on cosmetic manufacturing, distribution, and related activities
4. Liability Clause: States that the liability of members is limited to their shareholding
5. Capital Clause: Specifies the authorized share capital of the company and its division into shares
6. Subscription Clause: Contains details of the initial subscribers and their share subscription
1. Additional Business Activities: Extended list of permitted business activities beyond core cosmetics business, useful for companies planning diversification
2. International Operations: Specific provisions for international trade and overseas operations, relevant for companies planning export activities
3. Research and Development: Provisions specifically allowing R&D activities in cosmetic formulation and development
4. E-Commerce Operations: Specific provisions for online sales and digital business operations
5. Halal Compliance: Specific provisions for ensuring compliance with Halal requirements, important for companies targeting the Halal cosmetics market
1. Schedule A - Share Capital Structure: Detailed breakdown of share classes, rights, and initial allocation
2. Schedule B - Initial Subscribers: Details of founding shareholders including names, addresses, and shareholding
3. Schedule C - Business Activities: Comprehensive list of permitted business activities in the cosmetics industry
4. Schedule D - Directors' Details: Information about initial directors and their shareholding
5. Schedule E - Company Regulations: Additional regulations specific to the company's operations in the cosmetics industry
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