1. In exercise of the powers conferred under section 418(a) of the Insolvency Law, it came into effect on 25 March 2020. For the purpose of Insolvency proceedings and winding up of the companies must be carried out under this law.
2. Moreover, when most of the companies have to make a public announcement for the liquidation, they must be used to announce “Insolvency Law” instead of “Myanmar Companies Law” held under specified time limitation.
Directorate of Investment and Company Administration