Legal Update – 30 May 2024

Minister Issues Notice on Waiver of Late Filing Fee for Company Documents

On 24 May 2024, the Minister for Investment, Industry and Trade (the Minister) issued a Government Notice regarding Waiver of Late Filing Fee of Companies Documents at BRELA (the Notice) via Government Notice No. 410.

It should be noted that, section 452A of the Companies Act (the Act) empowers the Minister in consultation with the Minister for Finance, for the purpose of enabling smooth operation of Online Registration System (ORS), to waive fees associated with late filing of documents payable under the Act.

According to the Notice, the conditions attached to the waiver are as follows-;

• The waiver will be in force for twelve months from the date of publication of the Notice (24 May 2024)
• The waiver will be 50% of the filling fee subject to other conditions provided in the Notice
• The waiver will apply to companies incorporated before 2018 whose information has not been updated in the ORS
• The waiver will apply to the companies whose applications for updating information were lodged before the date of this Notice and new applications that will be lodged within twelve months from the date of the Notice
• Payment of the balance of the waived filing fees (50%) is supposed to be made within twelve months.

To read the notice, click here