The acceptance of the new companies Act 2016 (Act 777) & regulations among practitioners in Malaysia / Wan Putri Zulaiqha Mohd Zailan

Malaysia had faced major changes on the regulations that governs the Company’s affairs. In 31st January 2017, the new Companies Act 2016 (Act 777) & Regulations had come into operation after 13 years of review and amendment done by the Corporate Law Reform Committee (CLRC). This committee had been established by Companies Commission of Malaysia (CCM) in 2003 in order to review back the Companies Act 1965 that had been used for more than 50 years. The purpose of this study is to examine the level of acceptance on the Companies Act 2016 (Act 777) & Regulations among practitioners in Malaysia. This study also examines the factors that influence the level of acceptance on the Companies Act 2016 (Act 777) & Regulations among the practitioners. This study used the factors such as the interpretation of the Act, the practitioners’ competencies and the implementation time as the independent variables. This study used the quantitative measures in data collection. The unit of analysis covers the Company Secretary, Auditors and other parties related to Companies Act 2016 (Act 777) & Regulations in Selangor and Kuala Lumpur. The findings from this study proposed that the level of acceptance of the Act is medium. All the three independent variables used had been proven to have influence on the acceptance level of the Companies Act 2016 (Act 777) & Regulations. Finally, the interpretation of the Companies Act 2016 (Act 777) & Regulations is the most influential factor to the acceptance level.