Dealing with ambiguities in law

Lawyering

One evening, feeling rather concerned, I walked into a colleague’s room in office to seek advice on an interpretation of licensing requirements.

If you are familiar with the Malaysian regulatory landscape, you would understand that some licensing requirements are not laws that can be addressed solely through one’s experience and legal training. Some requirements are not even in writing, and you can only find out after you manage to speak to someone from the relevant licensing authority. The typical, albeit not foolproof, solution is to call the relevant licensing authority and seek clarification.

I was concerned because there was no clear answer, and I had a scheduled conference call with clients the following day.

My colleague shared his perspective, advised me to call the relevant licensing authority and concluded with the following:

“You are not God. You can only do your best.”

In my profession, dealing with ambiguities is a given. Some ambiguities could be resolved by applying legal training and conducting research, while others require a different approach. Knowing which is which and being comfortable dealing with ambiguities are essential in the legal profession. If you find yourself worrying about ambiguities, it’s because you care and you’re committed to providing the best possible advice to client. That’s not a bad thing.

#MalaysianCorporateLawyer

#Lawyers

This post was first posted on LinkedIn on 1 February 2024.

Linkedin Post
Preference Shares: A Path Through Malaysia’s Equity Restrictions

Regulatory equity restrictions don’t always mean “no entry” for investors in Malaysia. If you’re restricted from holding ordinary shares in certain sectors due to regulatory policy, preference shares may offer a practical alternative. You may want to consider preference shares if: 1.    The sector has no restrictions on preference shares. This …

Company Law
Does family-owned company require formal shareholders’ approval for issuance of shares?

“This is my family-owned company. Do we still need formal shareholders’ approval to issue shares?” Yes. Under section 75 of the Companies Act 2016, directors cannot exercise their power to allot shares without prior shareholders’ approval. This is a legal requirement even if all the shareholders are family members. Skipping …

Linkedin Post
Pay for proper legal advice when it comes to shareholders agreement

Most people I know are reluctant to pay for proper legal advice when it comes to shareholders’ agreements. Many assume shareholders’ agreements are just templates. However, in practice, especially in M&A or fundraising, these agreements must align with the Companies Act 2016 and other relevant regulatory requirements. Otherwise, what is …