26 July 2018
On 9 July 2018, Myanmar’s Directorate of Investment and Company Administration (“DICA”) issued Notifications 58 and 59 of 2018 which set out a variety of requirements for business associations and public companies pursuant to the Myanmar Companies Law 2017, which will come into force on 1 August 2018.
Notification 59 sets out rules for public companies in relation to share capital, format of statement in lieu of prospectus and filing requirements.
Notification 58 states that a business association may be registered as a company limited by guarantee without share capital. A business association is subject to the provisions of the Myanmar Companies Law 2017 applicable to companies limited by guarantee, in relation to the filing and lodgement of documents. The Notification also informs that a business association can be classified by the Registrar into one of four categories: union level association, state or regional level association, district level association or township level association.
Notifications 58 and 59 of 2018 are available on the DICA website www.dica.gov.mm or by clicking the links below:
- Requirements for Business Associations (Notification 58 of 2018)
- Requirements for Public Companies (Notification 59 of 2018)