Charting the Course for Shareholders' Recourse: Observations on the Malaysian Response

本文聚焦於馬來西亞的公司法,其企業制度法律規範下公司成員之權利性質與其實施。首先,將檢驗股東代表公司提起訴訟的權利,著重於普通法下的股東代位訴訟;相關規定於2007年增定於馬來西亞公司法當中。接下來,本文將討論並評價保障股東權利執行的法律規範,尤其是馬來西亞法律中的「壓制條款」,也就是1965年公司法第181條。最後,關於公司成員之團體訴訟或代表訴訟,本文將討論其發端。並且,檢驗前文所提及之法律是否確實提供公司成員與股東適切的權利保護,觀察其是否可靠,與是否易於使用。

This article aims to examine the nature and enforcement of members' rights under the corporate law regime in Malaysian company law. First, the rights of Malaysian shareholders to bring an action on behalf of the company will be examined. The focal point in this regard is the common law derivative action. The new statutory derivative action introduced in 2007 by the Malaysian Companies (Amendment) Act 2007 will also be considered. This article will then discuss and comment on the law relating to a legal avenue available to shareholders to bring personal actions for the enforcement of their rights. The spotlight here will be turned on Malaysia's oppression" provision, namely section 181 of the Companies Act 1965. Finally, this article will discuss the availability of the commencement of a class action or representative action by members or shareholders in the sphere of company law. The discussion in this article will centre upon the viability and accessibility of the above-mentioned mechanisms and whether or not they promote adequate protection for the interests of companies' members and shareholders in Malaysia.