SSM warns NGOs against collecting public donations without approval
NON-governmental organisations (NGOs) registered with the Companies Commission of Malaysia (SSM) as companies limited by guarantee (CLBGs) must obtain prior approval from the Minister or Registrar of Companies before collecting donations from the pub...
The Companies Commission of Malaysia (SSM) has warned NGOs registered as companies limited by guarantee (CLBGs) that they must obtain prior approval from the Minister or Registrar of Companies before collecting donations from the public. CLBGs are non-profit organizations established for specific charitable, educational, scientific, artistic, religious or other societal benefits.
Failure to comply with this requirement could result in enforcement action under Section 20E of the Companies Commission of Malaysia Act 2001 (CCMA 2001). SSM also requires these organizations to maintain detailed records of all funds received or provided, with every transaction properly documented. As of July 1, 113 CLBGs had received approval to collect donations.
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