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This thesis contains Five Chapters: A brief History of the Myanmar Companies Law,Company Constitution,The Role of Directors and Shareholders in a Company,Types of Winding Up of a Company and the last part is a suggestion for some parts of the Myanmar Companies Law to be updated.Chapter I,expresses the evolution of companies’ law in Myanmar.Then,it mentions the definition and nature of the companies,types of companies under the Myanmar Companies Law and explaining different procedure of company incorporation between the old and new companies Law of Myanmar.Chapter II,mentions about the company constitution which is a very important legal document that biding on the shareholders and the company.It also describes how to form or alter the company constitution.Furthermore,it expresses the procedure for alteration and the effect of alteration of the constitution under Myanmar Companies Law.Chapter III,particularly concerns with the role of directors and shareholders in a company.Directors are in charge of the management of the company’s business;they make the strategic and operational decisions of the company and responsible of ensuring that the company meets its statutory obligations.On the other hand,shareholders are not involved in managing a company unless they are also directors or the company constitution allows them to do so.It also mentions about rights and duties of directors and shareholders in more detailed.Chapter IV,concerns with modes of winding up a company.There are several ways to dissolve the company based on the situation.Moreover,it expresses the role of liquidator in winding up of a company.Chapter IV also mentions the powers and duties of liquidator and different types of winding up.Chapter V,is the conclusion and it mentions the need of the state to establish modern companies law in order to implement the economic reform in Myanmar.It also highlights what parts or sections of the Myanmar Companies Law to be updated in order to boost become more competitive in the global economy.