scholarly journals DEVELOPING SHARIAH COMPLIANT CORPORATION: AN APPRAISAL ON THE RIGHTS AND LIABILITIES OF MEMBERS UNDER THE MALAYSIA LAW AND SHARIAH

2021 ◽  
Vol 6 (1) ◽  
pp. 59-72
Author(s):  
Mas Nooraini Haji Mohiddin ◽  
Zuhairah Ariff Abdul Ghadas ◽  
Nazri Ramli
Keyword(s):  
Board Of Directors ◽  
Business Management ◽  
Share Capital ◽  
Direct Involvement ◽  
Legal Structure ◽  
The Board Of Directors ◽  
Partnership Agreement ◽  
Capital Ownership ◽  
A Company ◽  
Contractual Agreement

Shareholders are members of a company through share capital ownership. They proclaim themselves as “owners” although they have no direct involvement in business management which is wholly vested in the board of directors. In Malaysia, shareholders merely receive bundles of right in the company as prescribed under the Companies Act 2016. Due to the separate legal existence of a company, they are not liable for the company’s debts and liabilities. Contrarily, under Shariah, musharakah is a partnership agreement between individual partners for participation in capital and profits. It essentially regards them as the joint owners of musharakah, treating their existence inseparable from this business entity. The partners collectively share mutual rights and duties in the musharakah business according to their contractual agreement which makes them jointly liable for any liabilities incurred by the musharakah. This article discusses the rights and liabilities of members of a company under Malaysia Law and Shariah. It highlights the substantial distinctions between the shareholders’ rights and liabilities under the Companies Act 2016 and those of partners under musharakah. This article argues that an inculcation of Shariah principles of musharakah into the current legal structure of corporation is needed so that the Shariah-compliant status is always maintained.   Keywords: Company, Malaysia, members’ rights and liabilities, Musharakah, rights and liabilities in Musharakah, separate legal entity. Cite as: Haji Mohiddin, M. N., Abdul Ghadas, Z. A., & Ramli, N. (2021). Developing shariah compliant corporation: An appraisal on the rights and liabilities of members under the Malaysia law and shariah.  Journal of Nusantara Studies, 6(1), 59-72. http://dx.doi.org/10.24200/jonus.vol6iss1pp59-72

Meetings of Members Ordered by the Court

2020 ◽  
Author(s):  
Leslie Kosmin ◽  
Catherine Roberts
Keyword(s):  
Board Of Directors ◽  
General Meeting ◽  
Financial Statements ◽  
Company Law ◽  
Constitutional Rights ◽  
Share Capital ◽  
The Board Of Directors ◽  
A Company

The two key organs of a company are the board of directors and the members of the company exercising their constitutional rights in a general meeting. Company law attaches great significance to the due convening of general meetings of shareholders. The general meeting is the forum for considering many of the essential matters relating to the company’s affairs including increasing or reducing the share capital of the company, changes to the memorandum or articles of association, alterations to the composition of the board of directors, considering the content of the company’s financial statements and approving dividends.

Implementing Reforms

2017 ◽  
Author(s):  
Nils Brunsson
Keyword(s):  
Board Of Directors ◽  
Government Service ◽  
Radical Reform ◽  
Administrative Reforms ◽  
The Board Of Directors ◽  
The Relationship ◽  
A Company

This chapter continues to analyze the relationship between decision and action using a case study on Swedish Rail (Statens Järnvägar, SJ). In February 1987, the board of directors of SJ met to consider a plan drawn up by an international consultancy company to implement a radical reform, the ‘New SJ’. The basic idea was to make the company more businesslike. SJ was to be run as a company and not as a government service, and its corporate aim was to be a profitable business. The chapter addresses the question of why reforms may be difficult to implement. It suggests that there are certain fundamental and common characteristics of administrative reforms which make them difficult to implement by nature.

scholarly journals The Board of Directors and Business Management

Nature ◽  
1948 ◽  
Vol 161 (4101) ◽  
pp. 869-869
Author(s):  
E. F. L. ERECH
Keyword(s):  
Board Of Directors ◽  
Business Management ◽  
The Board Of Directors

scholarly journals The Board of Directors and Business Management.

1948 ◽  
Vol 58 (231) ◽  
pp. 416
Author(s):  
P. Sargant Florence ◽  
Melvin T. Copeland ◽  
Andrew R. Towl
Keyword(s):  
Board Of Directors ◽  
Business Management ◽  
The Board Of Directors

Sweden

2020 ◽  
Keyword(s):  
Board Of Directors ◽  
Balance Sheet ◽  
Share Capital ◽  
The Board Of Directors

When there is reason to believe that the company’s shareholders’ equity is less than half of the registered share capital, the Board of Directors must immediately prepare and force the company’s auditors to examine a balance sheet for liquidation purposes.

scholarly journals The Board of Directors and Business Management

1948 ◽  
Vol 15 (1) ◽  
pp. 95
Author(s):  
E. H. Anderson ◽  
Melvin T. Copeland ◽  
Andrew R. Towl
Keyword(s):  
Board Of Directors ◽  
Business Management ◽  
The Board Of Directors

scholarly journals The Board of Directors and Business Management

1948 ◽  
Vol 36 (1) ◽  
pp. 143
Author(s):  
R. A. Gordon ◽  
Melvin T. Copeland ◽  
Andrew R. Towl
Keyword(s):  
Board Of Directors ◽  
Business Management ◽  
The Board Of Directors

scholarly journals PENCATATAN PERUBAHAN DIREKSI DI KEMENTERIAN TERKAIT SEBAGAI DASAR PENYELESAIAN SENGKETA KEWENANGAN DIREKSI

2020 ◽  
Vol 28 (3) ◽  
pp. 369
Author(s):  
Maleakhi W. Sitompul
Keyword(s):  
Human Rights ◽  
Board Of Directors ◽  
Limited Liability ◽  
Third Parties ◽  
Limited Liability Company ◽  
Legal Provisions ◽  
Starting Point ◽  
The Board Of Directors ◽  
The Right ◽  
A Company

Research on the recording of changes to directors in the relevant Ministry, namely the Ministry of Law and Human Rights, aims to examine whether the authorized Directors in a company are Directors registered at the Ministry of Law and Human Rights. In addition, it is also to examine whether the provisions of Law no. 40 of 2007 concerning Limited Liability Companies and / or the Company's Articles of Association is sufficient to resolve disputes of authority in the event of a dispute regarding the composition and number of directors in a company, which one has the right to act against other parties. Disputes regarding the composition and authority of the Board of Directors in a limited liability company often become disputes in court, even though Indonesia's positive legal provisions have provided clear and firm rules about who the Board of Directors can represent in and out of court. Based on research, it can be seen that the starting point is from the provisions in Law No. 40 of 2007 Articles 29 and 98, changes in the members of the board of directors can only be effective for third parties, as from the date the changes are recorded in the Company Register by the Minister of Law and Human Rights in accordance with Law No. 40 of 2007 Articles 29 and 98.

scholarly journals The Different Impact of Top Executives’ Turnover on Healthy and Restructured Companies

2021 ◽  
Vol 17 (1) ◽  
pp. 17
Author(s):  
Carla Morrone ◽  
Alberto Tron ◽  
Federico Colantoni ◽  
Salvatore Ferri
Keyword(s):  
Quantitative Analysis ◽  
Board Of Directors ◽  
Logit Model ◽  
Top Executives ◽  
Distressed Firms ◽  
The Board Of Directors ◽  
Management Changes ◽  
The Impact ◽  
A Company

The aim of this paper is to investigate if top executives’ turnover affects the performance of a company and if it differently impacts the performances of a healthy and a restructured company. In order to investigate the impact of the renewal of both members of the board of directors and CEO impacts on company profitability, we performed a quantitative analysis based on a sample of 144 Italian companies using a logit model. The findings show that management changes influence the performance of a company. However, the results show a different impact for healthy and restructured companies. The renewal of the board of directors negatively affects the performances of a healthy company while influences positively the probability of a future increase in performances for restructured companies, suggesting useful implications for scholars and practitioners. This analysis confirms that the renewal of top executives can affect the probability of an increase of company performances, especially for distressed firms, contributing to existing literature which is still limited and focused only on few countries.

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