Directorate of Investment and Company Administration(DICA) announced that the companies must submit evidences when they electronically register the changes of shares and directors at the Myanmar Company Online Registry(MYCO) to avoid disputes.
In the submissions of the share transfers, the documents of the decision of director board and the copy of agreement that has signed by transferee and transferrer together with relevant duty stamp. In the submission of director changes, the decision of the shareholders’ meeting made by the company, a consent signed by the director himself to the appointment or, in the case of resignation as a director, a letter of resignation signed by the director himself must be submitted together with a copy of the national registration card or a copy of the passport.
As evidence must be submitted when there are changes in shares and directors, it will be helpful for the companies to resolve disputes that arise, said an official of a travel services company in Yangon. The application forms submitted together with the evidences will only be verified and the notification will start to take effect on January 8.
