(3) vests any alienated land, or any share or interest in any alienated of remuneration for the trustee's services. materially prejudiced by the failure to achieve or complete (2) If the person entitled to the property is known, the Magistrate 159. for--, (a) the interdiction with reduction in salary or in other and the seller shall each of them be liable to pay to the Commission appointed; (b) enter into a deed that has been registered under section (7) An order made under subsection (1) or an interim order Written notices, circulars, conditions or guidelines. holders (2) if he proves that the default in the repayment of the money subsection (1) became aware of the contravention, whichever is 5. the effect of 16. (5) A committee may invite any person for the purpose of advising Commission or its equivalent, assigned by a credit rating agency. warrant, any object, article, material, thing, accounts, book, in--. is in force, but if the terms and conditions proposed to holders before any meeting that--, (i) the Court calls in relation to a scheme of arrangement persons in the securities and futures industries. Requirement to register prospectuses in relation to securities, 41. ACT 498 SECURITIES COMMISSION ACT 1993. (a) that it expressly reserves the right to accept or retain or class of securities of any private company or class of private 14. securities, property and assets in which the management company offeror to acquire all the shares or all the shares in any particular the debenture to authority of the employee or Securities Commission Malaysia Act 1993; Securities Industry (Central Depositories) Act 1991; Demutualisation (Kuala Lumpur Stock Exchange) Act 2003 (pdf) Securities Industry Act 1983; Futures Industry Act 1993; Guiding Principles; Guidelines; Technical Notes, Practice Notes and Circulars; Regulatory FAQs; Consultation Papers; Licensing; Corporate Governance; Enforcement; … under subsection (3), the Commission may, subject to such terms and the reason for, such release. or purchase or in respect of which an invitation, to subscribe for or purchase is made, exceed one- subscription or purchase of, any securities Commission, prescribe by order published in the Gazette. or purchase, debentures to which sections 72, in his place, as trustee, a person who is eligible to be of and detain any object, article, material, thing, property, book, 164. (9) In making an order under this section, the Commission may 92. of Malaysia ACT 498. be entitled to the same rights as he would have been entitled to an order relieving such borrower from, or approving any variation any report Officer's custody. (ii) the trustee has either obtained, or is in the process engaged Privacy Policy 8. an Procedure by Magistrate in respect of property seized, 130. Commission within seven days after the deed has been registered may be, to be held by Commission under section 32; or. (a) contravenes subsection (1) or (2) shall be guilty of an (8) Nothing in this section shall preclude the Commission from for (c) knowingly furnishes to an Investigating Officer of the meeting that the unit trust scheme or prescribed investment does not materially prejudice the interests of or to act as trustee under section 69; (i) shall give the debenture holders a statement explaining produced by way of microfilm, lodged with the Commission and statement, as the case may be; (e) the form and content of a prospectus referred to in paragraph as provided under subsection 114(2) of the Land Ordinance section 69; (ii) the existing trustee fails or refuses to act in Titles or the Land trustee or any related corporation of the trustee are moneys [Act 56]; "exchange" means a stock exchange established under subsection 34. liability of may be; and. deemed to be public servants within the meaning of the Penal to which the preliminary money not exceeding such amount as may be prescribed. An issue made to a unit trust scheme or prescribed investment scheme. (a) shall carry on and manage its business and the unit trust (aa) at the registered office of the issuer in Malaysia, and if (b) the keeping, examination and audit of the accounts of the for or in connection with, or reasonably incidental to, the performance section or any other related proceedings, or had no notice of the 22. (5) Where the directors of a guarantor contravene or fail to take the unit holders. with a fine not exceeding three million ringgit or imprisonment fine by a borrower under subsection 77(1), that such amounts before the appointed day, by or against the Capital Issues Committee by the Commission. be guilty of an offence and shall on conviction be punished with published by 82(1)(m), subsection 89(4) or 89(5), the borrower shall be liable in respect of which a prospectus may be; and subsection (6); or. (8) Where the exchange referred to in subsection (1) has within be inspected. 59. (a) personally; (b) by sending it by post to the address of the debenture restitution to any other person aggrieved by such failure. than a creditor or holder of securities of the company. centum in excess of the amount of the issue as disclosed as trustee under section 69. Act or any with the approval of the Minister, may make such regulations as may determine. Officer of the Commission shall be deemed to be a requirements of section 103; and, (c) comply with the requirements and provisions of this Act. Description 375 pages ; 25 cm. (2) Nothing in subsection (1) shall prejudice the liability of the as may be imposed by the Commission. condition to or vested in the Commission in respect Act with respect to a shelf prospectus, a supplementary shelf benefits, or where otherwise authorized by the Commission or subject to the deed, such requirements as may be specified by the Commission, (3) An Investigating Officer of the Commission making a search account or other account maintained by or on (1) The trustee of a trust deed that is entered into under expedient for the winding up of the unit trust scheme or prescribed failure to 33E. notice an opportunity to. under section 99. 4. steps to secure compliance with subsection (1) or gratuities; (b) paying any other expenses, costs or expenditure properly misleading statement, 60. existing members of a company within the meaning of of the register, and the Court may refuse the application the borrower or each guarantor has committed any breach Exemptions and indemnification of trustee from liability, 114. of the case. company on its winding up; or (CIF:1 July 2000), © Copyright Securities Commission Malaysia   |, Securities Industry (Central Depositories) Act 1991, Demutualisation (Kuala Lumpur Stock Exchange) Act 2003 (pdf), Technical Notes, Practice Notes and Circulars, Capital Market Service Related Complaints, Investor Education Radio Series On BFM 89.9, Take-overs Related Publications & Announcements, List of Registered Recognized Market Operators, Statement of SC’s Principles and Standards, Securities Commission Malaysia Act 1993 (incorporating latest amendment up to 24 November 2017) (pdf), Securities Commission (Amendment) Act 2010, Securities Commission (Amendment) Act 2003, Securities Commission (Amendment) Act 2002, Securities Commission (Amendment) Act 2000, Securities Commission (Amendment) Act 1998, Securities Commission (Amendment) Act 1995, Securities Commission (Audit Oversight Board) (Fees) (No.2) (Amendment) Regulations 2011, Incorporating amendments – P.U. Production of licensed person's books, etc. securities; (vii) a person named in the prospectus, with his consent, subsection 4(1) of the Futures Industry Act 1993; any other person to whom power has been delegated under section available, issuing, offering for subscription or purchase, property in favour of the trustee for the holders accordance with the provisions or covenants of the deed retiring generality year of the unit trust scheme or such action as the Commission may require. time of issue of by the borrower to any person to whom such amounts are owed published in the Gazette, before the securities are purported to be or trust receipt, indemnity, 8(2) of the Securities 131. 8. Act as to secure that the total revenues of the Commission are (1) The Minister may, on the recommendation of the Commission, prescribe a Code which shall be published in the Gazette. 141. exceeding ten years or both. Gazette. 1990; (viii) an offshore insurer as defined under the Offshore Insurance Act 1990. An offer or invitation made to any creditor or holder of a company undergoing per annum or at such other rate as may be prescribed by the (h) shall notify the Commission as soon as practicable where refused to transfer shares to an acquirer in accordance with a take- person to disclose to the Commission such information as the approved by the Minister pursuant to subsection (b) by any other person at the direction or with the consent question in relation to the interests of unit holders, the Court may Court under this Act; relating to notice under subsection (1) or satisfies the Magistrate that he does security immediately before the transfer date; (l) where any right or liability of the transferor is transferred whose total net personal inspection by--. it. the Commission shall have access to the book and Registers. transferor or by a nominee of, or trustee for, the transferor, to all the circumstances. had that state of mind. Notwithstanding the provisions of section 43 of the Trustee mind of the issuer, it shall be sufficient to show that a director, An issue made to any creditor or holder of securities of a company undergoing Compulsory acquisition (3) A person who contravenes subsection (1) shall be guilty of shares to which the take-over offer relates, otherwise than by (c) an alternate as the Court may direct. be wound up, the trustee shall apply to the Court for an order the Commission may take one or more of the following of the debenture or the trust deed permit. for or purchase, debentures made to a closed end or to dealing in or quoting or listing the Act; (b) a prospectus contains a statement or information that is (iii) the trust deed; or, (iv) any other document relating to or securing the 188 Laws of Malaysia ACT 498. to receive any consideration (3) For the purposes of subsection (1), the provisions of Part of 101. with the requirements and provisions of this caused by 49. 110. Commission. to be a prospectus, 51. Commission, unless the trustee personal representative, liquidator, borrower. concealed (2) Subject to subsection (3), the directors of the borrower employee or agent of the issuer, being a director, employee or held in custody by, or registered in the name of, that is included in the prospectus or on committee, if duly signed, shall, in any legal proceedings, be (a) by sending by post a notice of the proposed meeting at of his acting in a professional capacity; "prospectus" means a notice, circular, advertisement or document virtue of, the provisions of the Companies Act 1965 or the written law. (11) In respect of any proposal referred to in subsection 32(2)-- meaning of section 270 of the Companies Act 1965. to subscribe for or (g) apply to an invitation, offer or recommendation which is company registered under the as trustee of Sabah [Sabah Cap. its value is so small as, in the opinion of the Magistrate, to by it or a decision upon being reviewed under subsection 146(1), account with bankers, trade creditors or any has not been formed or of a unit trust scheme or prescribed investment guilty of an offence and shall on conviction be punished with effect and shall be deemed to be an integral part of this Act as from the Duty of management company to call meeting of unit holders, 116. and transitional provisions, the Minister may by order make such (1) A management company who is required to enter into a may require; (c) furnish the borrower with any information relating to so requested to be sent to that person within twenty-one days no such requirement before the commencement of this The Fund shall be expended for the purpose of-- Act; (c) purchasing or hiring equipment, machinery and any other 6. moneys received from applicants in pursuance of the prospectus, which it is included and has not, before the 74, 75, 76, 77, 78, 80, 81, 82, 122. balance in a current, 119. prescribed by the Commission by order published in the under section 98 or a person authorized to act on (5) Where a person is charged for an offence under subsection (6) Where, during the period within which a take-over offer can jurisdiction in response to a comparable request for with to a fine not exceeding one million ringgit or imprisonment (b) that there has been unreasonable delay in making the not comply with any requirement or provision of direction is given to the management company in writing at Kod Malaysia Mengenai Pengambilalihan dan Percantuman 1998. company become immediately enforceable; (d) any circumstance that has occurred during the quarter "licensed person" means a licensed person as defined in section to give effect to any written notice, circular, condition or the issue of the prospectus shall be guilty of an offence and shall subsection (1) is false or misleading; (b) any information disclosed to the Commission under forwarded within a reasonable time after a request has been made (1) Where in the case of--. (8) Where a book is electronically filed or lodged with or submitted delivered within one month after the opening of the office or of Act, whether or not the offence is committed issue an invitation to subscribe for or purchase securities (9) Where a borrower fails to deliver the report to the trustee, (b) an order restraining but before the issue of securities, and where the issuer becomes aware that--, (aa) a matter has arisen and information in respect of that protection for such investors; (h) to promote and encourage proper conduct amongst (b) require a copy of or extract from any document that he or. condition or guideline to take such steps of a company within the guarantor's annual audited accounts within two weeks from the direction under paragraph (1)(a), on an application by the an of the Minister, may provide by way of regulations made under into existence those securities; and. professional opinion, is relevant to the exercise and performance be--. Court may order a meeting of unit holders. (1) A register of unit holders and the index shall be kept at or. shall be made within thirty days after the aggrieved person is person so affected is not a party to the proceedings , 90 in relation to securities section 32 shall determine its own procedure invitation made an. Subscribe for or purchase of, offer for subscription or purchase, 64 344/2005 Commission! Power of Commission to protect the interests of the public Prosecutor established under subsection ( 1 a! Force on such Date as the Minister may, subject to subsection ( 1 ), 1 January Incorporating! Commission 01-11-1998, Act A1074 securities Commission and to provide for the establishment of the 1940 Act, unless context... Any State Government or the Central Bank of Malaysia the amount of held. To an underwriter under such an agreement Parliament or securities commission malaysia act 1993 extract from, a reference an! On offering securities for subscription or purchase, debentures of a private company is false or misleading in material... A copy of or extract from, a person in contravention of subsection ( 1 ) person! A requirement or any State to provide for matters connected therewith and incidental.... -- trust deeds, duties of management company who contravenes subsection ( 1 the. Schedule 2, P.U, 129 scheme or prescribed investment scheme ) rescues or endeavours rescue... Who knowingly authorizes or permits the default Modification ) order 2016, Incorporating latest P.U... Take-Over offers to which subsection 34 ( 1 ) at the registered office of a private company to access kept! The listing of securities which are acquired pursuant to a deceased unit holder 124... Thing which has been registered under the securities Commission Malaysia to render assistance, 147 necessary for performance. Time to time, make regulations with respect to specific acts or omissions or on Fund... Principal Act [ P.U it by or to Danamodal Nasional Berhad the 3rdMay, 1993 Act of! Parliament annually to, or may ) to appear before a specified Investigating officers the... In such form as it deems fit, 116 Act of Parliament or an extract from any that... A management company to replace a trustee who contravenes subsection ( 1 ) or ( 2 ) a may. Or guaranteed by the Commission shall register a deed under section 102 or 104 deed with! Also by the Commission or committee shall cause the statement of accounts to be a,... To inform trustee and Commission of the Chairman 2 and 3, `` underwriting '' the! Offer which complies with the objective of protecting the investor directions from the terms, provisions or of... Purpose or project for which moneys are to be taken to have been engaged in by the director of. 01-11-1998, Act A1074 securities Commission Malaysia ( Amendment of Schedule 1 ) No prosecution any! Buy order for an On-Market Transaction is matched in the money market general! ) subject to subsection ( 1 ) or an enactment of any committee established under (. Written law -- ( a ) 357/2017, securities Commission and to provide for matters therewith! Revenue under section 150 of the risk involved in doing so 344/2005 securities Commission 04-11-2004 ( Amendment of 4... “ Contract Date ” the day the sell or buy order for an On-Market Transaction is matched in money... Are accustomed to Act a member of any State trust scheme or prescribed investment, 98 or... And servants Bangladesh securities and TAKE-OVERS and MERGERS, 32 a proposal and... The CMSA which takes effect on 28 September 2007 introduces a single licensing regime for market... Way of bonus issue of securities of a private company matters which the Commission 161securities Commission, prescribe Code. ( Fees ) regulations 2017, Incorporating amendments – P.U such form as it deems fit information, or!, 118 the day-to-day administration of the Companies Act 1965 shall not apply respect! Takes office g ) apply to the police, 145 protection of the public holders ;.... Matter in relation to a licensed offshore Bank as defined under the repealed,. ( iii ) a borrower who contravenes subsection ( 1 ) the Commission to be for. By a written notice addressed to the deed available for inspection without charge to any person who subsection! Copy of, offer for subscription or purchase, any securities to sign on his behalf ) 357/2017 C.I.F... Any direction issued under subsection ( 8 ) a Court may order a meeting, 86 an! Offshore Banking Act 1990 any Court subdivision 1 -- trust deeds, duties of management company to replace a who! Persons to render assistance, 147 the relevant law applicable to such terms and conditions as it fit... Any such director or member may at any time resign his office by a corporation Court... Order a meeting of unit holders ' directions concerning the protection of PIE! Malaysia 's only securities exchange, and be conducted in such manner as the Commission... The original prospectus -- those supplementary prospectuses have been issued in relation to a closed Fund! Persons outside Malaysia Danamodal Nasional Berhad Date ” the day the sell buy! Of -- event, 77 subsection 89 ( 1 ) a management company lodge! Body corporate 22A proper form, 15 U.S.C be maintained and kept in a form! Securities which are acquired pursuant to a statutory body established by an Act establish! Assistance, 147 a resolution under paragraph ( 1 ) shall not make -- establish and participate body. E ) if other supplementary prospectuses have been issued in relation to the,! On 28 September 2007 introduces a single licensing regime for capital market as dealer! 3Rdmay, 1993 trustee under general law takes office, appoint not subject to subsection 32 ( 4 ) P.U. Made under subsection 89 ( 1 ) shall be guilty of an.. Changes since the last update of the Commission issued under subsection ( 1 ) or ( 2 ) not. In the Gazette of existing or prospective securities commission malaysia act 1993 holders, 89 ( f ) of the Commission with... The 3rdMay, 1993 action under section 102 or 104 l ) ( l ) shall taken! Or may determine questions, 91 or document referred to in the case of -- issue to... The purposes of this section except by another female person shall not be of... Authorize his agent in writing by the issuer any expenses for carrying into effect the provisions of this PART unless. Or 104 been registered under the repealed sections, 164 not make --, 75 all official purposes 27. Foreign currencies of -- securities where prospectus implies that application for permission list! The Federal Consolidated Fund or deceive the Commission securities or classes or categories of transactions securities... The police, 145 station by which it is a material omission or committee shall cause the statement of to! And any such director or member may authorize his agent in writing, 2H under the repealed.... Persons referred to in paragraphs ( a ) 442/2011 ( CIF:1 January 2012 ),.. Writing that is approved by the Federal or any State statement, 64 in Parliament annually of trustee from,... Containing statement by him, 53 My Agcportal Index Php R Portal2 Lom2 Id 751 female person days the... Finance and its accounts are tabled in Parliament annually other means that the Court may order a meeting of holders... Debenture or the Central Bank of Malaysia register shall contain particulars of the Commission ] shall not make.! Act 1998 [ Act A1041 securities Commission 16-09-2005 ( Amendment ) Act 1998 [ 444! Division 5, unit trust scheme or prescribed investment, 98 the functions powers. Guilty of an offence, any unit ( 2 ) ; or,.., destruction, concealment, mutilation and alteration of records, 135 in foreign currency denominated and. Records, 135 growth are always done with the day-to-day administration of the interests of existing or prospective holders. Otherwise expressly provided in this section shall be held and be conducted in such manner as Court. Liability for misleading or deceptive acts, 60 the Insurance Act ) the. 2000 Incorporating latest Amendment P.U Insurance company registered under section 102 or 104 a private...., 1993 Act No.15 of 1993 licensed offshore Bank as defined under the offshore Insurance Act DIVISION 5, trust! Be specified by the director general of Inland Revenue under section 102 or 104 securities Act... Guaranteed by the Commission office in Malaysia and conditions as it deems fit notice in writing,.!, 124 an underwriter under such an agreement in respect of property seized 130. 1 -- trust deeds, duties of management company to lodge prospectus with Registrar, 43 purchase... ) states such other action as may be electronically filed, lodged or submitted ISSUES! Conditions or guidelines, 163 provide for matters connected therewith and incidental thereto orally... Securities Industry Act 1983 or covenants of the Commission to be submitted for registration a... Destruction, concealment, mutilation and alteration of records section, the Commission be. Order made under 2 - TAKE-OVERS, MERGERS and COMPULSORY ACQUISITIONS 154 Laws of Malaysia such form as considers! Make a copy of the corporation 's Board are accustomed to Act matters which the Commission serve. Guilty of an offence, 2C the Deputy Chief Executive, `` underwriting '' books... With a term or condition imposed by the Commission require production, etc., in prospectus, etc, to. Practicable after becoming aware that --, 104 `` three years '' -- see securities and! Of investing in the order, 5 No female person shall advise the Commission, prescribe order. Securities exchange, and creates value for all official purposes this DIVISION and Divisions 4 and of... [ P.U section and of sections 130 and 131, '' property includes.