NEWS

 

TITLE: Extension of Time for Renewal of Practising Certificate for Secretaries Under Section 241 of the Companies Act 2016

DATE: 25/03/2020

25 March 2020 Circular No. 26/2020
 
TO ALL ACCOUNTANTS
EXTENSION OF TIME FOR RENEWAL OF PRACTISING CERTIFICATE FOR SECRETARIES UNDER SECTION 241 OF THE COMPANIES ACT 2016
On 18 March 2020, Suruhanjaya Syarikat Malaysia (SSM) extended the time provided to company secretaries to comply with the 20 CPE points for renewal of the Practising Certificate (PC) after having considered the cancellation/postponement of training courses organised by professional bodies and government/private agencies due to the spread of COVID-19 in Malaysia, based on the following conditions:
• Company secretaries are given an extension of time until the next renewal of PC to collect the remaining CPE points that were not collected during the first renewal of PC;
• This extension of time shall only applicable to practising certificate which expires from 14 March 2020 until 31 December 2020;
• The extension of time to collect 20 CPE points is granted only for first renewal of PC; and
• Failure to collect the remaining CPE points will result in the second application for renewal of PC to be rejected.
In accordance with the extension approval, the validity period of renewed PC shall be continuous from the first PC if the renewal application via e-Secretary system is approved.
Please click here to refer to SSM announcement for further information on the extension of time and notice of temporary closure of SSM online operations and services from 18 to 31 March 2020. Please also be informed that application for renewal of practising certificate through e-Secretary system can only be made starting from 1 April 2020.
Based on the Guidelines Relating to Practising Certificate for Secretaries Under Section 241 of the Companies Act 2016 issued by SSM on 14 March 2019, at least 60% of total minimum CPE hours must be related to company secretarial practice, company and corporate law; and another maximum of 25% and 15% of total minimum CPE hours must be related to industry in which a company is operating and personal development respectively. MIA CPE workshops/events and online courses on the above topics are recognised for renewal of SSM’s PC and can be found at pd.mia.org.my. Currently, there are more than 40 e-learning courses that are available online and the maximum CPE hours recognised for online courses are 4 hours per year for SSM’s PC holders. The Institute will closely monitor the situation to determine the appropriate time to resume all other CPE workshops/events.
 
Please be guided accordingly.
Thank you.
 
Yours faithfully
MALAYSIAN INSTITUTE OF ACCOUNTANTS
 
 
DR. NURMAZILAH DATO’ MAHZAN
Chief Executive Officer