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Shareholder vs Director

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asked on Apr 27, 2015 at 06:29
by   TazHeah
I have left as Director and Shareholder from a company I set up. Sold it to someone else.

Just found out the company secretary did not transfer the shares, and I am still shareholder (although no more a director).
Company is dormant with only RM10 paid up capital.

I own 50% of the shares. My friend owns the other half.

I like to ask - what are the implications?
Will I automatically become a director again if one of the directors resigned?

Thanks!
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answered on Apr 27, 2015 at 15:59
by   jeff005
Will I automatically become a director again if one of the directors resigned?
YES..
WHY CoSec no transfer shareholdings? What is the Authorised Share Capital?
Do be Carefull.
These types of dormant companies can be used as fronts for money laundering and send funds to the ISS..
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