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Burma Companies Act (1914)

This Burma Companies Act was included in Volume IX of the Burma Code, which was a codification of laws from the period 1841-1954. This Act is divided into eleven parts (part 1 : Preliminary (definitions) ; part 2 : constitution and incorporation ; part 3 : share capital, registration of Unlimited Company as Limited, and Unlimited Liability of Directors ; part 4 : Management and Administration ; part 5 : Winding up ; part 6 : Registration Office and Fees ; part 7 : Application of Act to Companies formed and Registered under former Companies Acts ; part 8 : Companies authorized to register under this Act ; part 9 : Winding up of unregistered Companies ; part 10 : Companies established outside the Union of Burma ; part 11 : supplemental). On 1 August 2018, the Myanmar Companies Law 2017 came into force, repealing and replacing the Burma Companies Act 1914.

Key elements :

- Distinction between Myanmar-owned companies and foreign-owned companies, which also affected ownership, leasing and use of land and immovable property ;
- Any foreign investor conducting business in Myanmar was required to obtain Form 1 (“Trade Permit”), which stipulated the approved business activities of the registered foreign company ;
- Use of Memorandum and Articles of Association issued by DICA ;
- The business objectives of a company had to be specified in the company’s Memorandum of Association and in the Trade Permit ;
- A Limited Company had to have a minimum of two shareholders, whether natural persons or corporate entities ;
- A minimum of two directors was necessary.