AMLR has to be interpreted contextually, not textually, the Federal Court judge said. “As long as the wound-up company remains listed, the liquidator, being the controlling person of the company, has to comply with the AMLR (Ace Market Listing Requirements),” said Federal Court Judge Datuk P Nalini. Hence, she added, the directors of a wound-up company cannot do anything without the consent or authorisation of the liquidator who is in control of the wound-up company. Justice Nordin, now a Court of Appeal judge, ruled that under Rule 16 (2), the word “shall” is deemed mandatory. Read also:Court: Companies must be delisted once winding-up order served

Source: The Edge Markets January 05, 2022 23:01 UTC