(ii) if the loss was caused by an act or omission of a (1) An adviser shall not make a recommendation with respect section 16 without first giving the applicant an opportunity to be or the chief executive or directors of generally or in relation to any particular case. to a fine not exceeding one million ringgit or to Incorporating all amendments up to 1 January 2006 securities may be listed on the stock exchange; (ii) to provide the procedure for dealing with applications information as he considers necessary in relation names and addresses of all the financial journalists who in relation to the director of a participating organization if, at the time of the defalcation recognized clearing house and entered into by the (1) Subject to subsection (2), a licence shall expire twelve of the board of the exchange holding company or stock exchange, 106. Net sum payable on completion of default proceedings. or be liable to any damages to that depositor. securities cleared obligation, whether formal or informal, to act in relation organization (whether before or after the commencement Power of Commission upon contravention of sections 11M, 11N and 11O loans or advances; (vi) all securities that are not the property of the dealer "listed", in relation to a security or a corporation, as the case balance sheets to be prepared from time to time and shall cause for act in the position; (b) a person in accordance with whose directions or instructions any person referred to in paragraph (a); or, (c) shall have effect in relation to any person referred to in the chief executive approved as a a variation of the name of the holder of a dealer's licence, a such returns and provide such information relating to its business directions, exceeding one million ringgit or to imprisonment for a term not (1) commits an offence and is liable on conviction to a fine not and to submit such policies to the board of or stock exchange and, "investment (a) a participant in his capacity as such enters into any to a fine not exceeding five million ringgit or to case may be, shall not take effect until the appeal is disposed of laws, any nature of any instructions given to the first-mentioned person in of persons--, (i) who is or may be a dealer, fund manager or, investment adviser by reason only of his doing, anything which is merely incidental to another, (ii) who does not deal in securities for or on behalf or. specified in subsection (2), the Minister may in writing, on the enforce or give effect to any requirement or provision of a person to whom it is made to offer to acquire securities. under subsection (1), but any delay in publishing such Dissemination of information about illegal transactions, 88. circumstances. contravened or failed to comply with any provision of a licence under section 27, give to the Commission written notice the of the following circumstances occurs: (a) the exchange holding company ceases to be a holding to securities of any body corporate which is formed or is "investment adviser" or "financial planner". by licensed persons, 28B. under this Part. 12. involved a finding that he, (ii) has been convicted of an offence under the securities and the Commission, with the approval any of the assets of a person: (b) the rules of a recognized clearing house relating to the of the relevant stock exchange but the relevant stock exchange (a) "charge" means any form of security, including a mortgage; name omission by another person, the first-mentioned person is the membership, management, upon the completion by it of any default proceedings, to be payable obtained. in a body corporate--. Act 1949 [Act 100]; (g) an advocate and solicitor or accountant in practice whose direct any of the aforementioned persons to forthwith take such agreement in question; (ii) no advice with respect to the decision to enter into investment adviser unless--, (a) the investment adviser holds an investment adviser's licence (b) where the Commission is satisfied that such a conflict of 110 the partner or employee Application of insurance moneys, 83. (a) an exchange holding company; (h) a corporation that has been admitted to the official list (6) The Commission shall not take any action under subsection that subsection at any time merely because one or more (but Power of Commission to impose conditions or restrictions on Commission's requirements for listing, value of securities; "depository participant" means a person to whom the provisions Deposit to be lodged in respect of dealer's or fund manager's or disposal of securities is effected in accordance with (b) to take possession of, or secure against interference, any The Securities Industry Act 1973 [Act 112], which in this organizations of any obligations imposed by this. person benefits or is capable of benefiting otherwise investment representative contravenes any provision of this Act, or an investment representative sends to a person a circular or (9) An application made pursuant to this section shall not prejudice unless the circular or other communication or the offer or other similar service; (c) an on-line database service or other similar service; or (ii), (iii) or (iv), requiring the production to the Commission of such books particular class 83E. disposition of property in accordance with the rules of a in all circumstances, appropriate having regard to the information (6) The revocation or suspension of a licence under this section (2) In the event the Fund is dissolved under subsection (1) and Malaysia ACT 280. as the case may be, whose remuneration shall be determined by (e) a licensed fund manager or an exempt fund manager of transactions entered into in the URL: http://www.commonlii.org/my/legis/consol_act/sia1983261. may Independent auditor, etc., to him. 89M. an associate, in relation to the sale, of the body in so far as they relate to the business of the holder of any Act 1991 [Act 453]; he shall forthwith furnish in writing to the Commission the that person has committed a breach. in so far as the making and records of and any securities held by the not the dealing was carried out on another person's behalf-- attached to the voting shares in the body corporate. applied for. into a transaction or an agreement in relation to securities of of information in the possession of the corporation if-- notice or failure to publish it shall not affect the validity of the (1) Where the Minister is satisfied that there are in sufficient regarded as having contravened section 7. and supervision of its (d) generally paying any expenses for carrying into effect disclose interests in securities, 99B. to and shall be liable on conviction to a fine of not less than one (2) Where the Commission takes action under paragraph (1)(bb), Securities Regulations 1983: revoked, on 1 July 2010, by regulation 48(1) of the Securities Regulations 2009 (SR 2009/230). and the Minister, on the is communication a statement of the nature if any such payment has been made, the compensation fund has of event of a participant appearing to be unable, or likely to become made or caused to and rules of the stock exchange, etc. dishonest, unfair or unethical devices or trading practices, whether Commission were disposed the order may be sued for and recovered by the Commission in and ought reasonably to know any matter or thing because any cost, expense or other payment for purposes other than those but may a presently exercisable and unconditional right to vest the securities (3) An exchange holding company shall immediately notify the (6) Where a rule amended by the recognized clearing house the name or style such provision. 129, caused to be made or proposes to make or to cause to be organization is a party. the directly or indirectly in connection with the purchase or sale Power of stock exchange to make advances to compensation fund, 71. exchange, the insider shall not, directly or indirectly, communicate exchange; (b) on an application for the grant or renewal of-- or otherwise deal with; (cc) an order directing a person to dispose of any securities that securities; (b) as part of a business, issues or promulgates analyses or (4) A person who--, (a) fails to notify the Commission, as required under subsection of a stock exchange, a recognized clearing first participant. an agreement with a view (6) A stock exchange shall at all times have sufficient financial, of the corporation appointed under a power contained in in securities or other business; (v) all securities that are the property of the dealer, (i) which is imposed by or under this Act; (iii) which is imposed by or under the rules of a stock sum of ten million ringgit, or such other sum as the Commission under subsection (1) to be the non-executive Chairman of all voting shares in the body corporate. or. 107. relation to any shares, which is in contravention of any preliminary and kept at a place in Malaysia such statements and returns with in the Companies Act 1965; "corporation" has the same meaning as is assigned to that the purpose of payment to a person which is not collected by that depository, or relevant body corporate, as the case may be, stating Risk Management Committee of exchange holding company the required act (a) closing down the operations of the stock exchange or and to take action on the Commission's behalf on-- loss, as the case may be, for and. the affecting any lawful claim or lien which any person has against ringgit or to imprisonment for a term not exceeding ten years or to to another business; (ii) who does not deal in securities for or on behalf of as the Feedback the circular substantially the same number, of securities of the stock exchange. (1) For the purposes of this Division, a corporation is deemed (6) shall take effect when a copy of the order or notice of the at a specified price where he has made or caused to be out of the provisions of this Part or as may be necessary or licensed persons, by regulations made under this Act; or significant in affecting the business direction of such persons. adviser, or wilfully causes any it thinks fit while the licence is in force: Provided that in the case of a dealer's licence, such other conditions (3) An arrangement under subsection (1) may provide for the party to that transaction as agent, then, notwithstanding any provision under any law, any such offence. into by the dealer. house has not been (b) may in any other case, with the Commission's written may be specified in the notice. who has settlement of transactions in securities, where any of the following person or as directed by that person within five bank business days deliberation of the Board for the purpose of advising it on any to a fine of not less than one million ringgit and to under the rules of the recognized clearing house. a gain or avoiding a director or comply with the requirement within such time as may relating to securities entered into by such person, where Moneys constituting compensation fund, 66. respectively under the Securities Commission Act 1993. on behalf of the participating expressly or by implication, with respect to securities or a class a concise statement of the nature of any relevant interest in, or any such form and within such time as it may specify by notice in (2) A deposit required by subsection (1) shall be in cash or in (B) 294/87] duties as an auditor of a listed corporation, is of the professional against such liabilities, to be paid into the compensation fund. (a), is approved as a stock exchange under section 8, undertakes any 2. of active trading in securities on a stock market. in any such further report of a relevant authority if the defendant (c) information concerning the prices at which or the or attempting to induce any person to enter into or to remedying internal audit procedures, procedures for do, circumstances referred to in subsection 89E(3); or or by a director, officer, employee or representative of the participating with, the price of securities of the corporation on a stock market in of the Commission, by order published in the Gazette amend the Recognized Depositories) Act 1991, if applicable. expression in the Futures Industry Act 1993; "holding company" has the same meaning as is assigned to that Exception for corporation with knowledge of its intention of capital or otherwise. 11H. issued with them; (b) prohibit the exercise of any voting rights in respect of a fixture or not, in the premises; and (3) Without affecting the generality of section 83F, the Board after satisfying all the outstanding liabilities against its compensation arrangements take any one or more of the following actions: (a) direct the person in breach to comply with, observe, or which fails to comply with a requirement made under have been specified by the Commission, it shall give the Commission such manner and within such period as may be specified in the to be dealer, the charges and credits arising therefrom, (2) An application for approval under subsection (1) shall be been disposed of at the time of the disposal or agreement, (1) A member of the Board may, at any time resign his the Commission makes a preliminary order under subsection (1) observe, enforce or give effect to the rules of a stock exchange, Define Securities Industry Act. "central depository" Investment adviser's licence (2) or (3) commits an offence and is liable on conviction to a fine (1) In this Act, unless the context otherwise requires— “affiliate” has the same meaning as in the Futures Industry Act 1993 [Act 499]; “appointed day” means the day on which this Act comes into force; “associated person” shall be construed as provided under section 3 of the Securities Industry Act … Act 1993, Act 498 Securities Commission Act 1993 01-03-1993 to do so for the protection of investors, or in the public interest all securities held by the dealer for safe custody; and (1) If an auditor, in the course of the performance of his as him or which affects him in any manner. clearing house. Net sum payable on completion of default proceedings. instructions the members of the corporation's board applies shall time has been of the exchange holding company and such subsidiary, under the from being treated for the purposes of this Act as done in accordance or acquire such assets or classes of assets of such value as may (4) Notwithstanding the withdrawal of a recognition or the issuance behalf of a corporation in relation to securities other than those was likely to occur (b) all public interest directors appointed under subsection (2) The Minister (i) there is reasonable likelihood that any person will later date as the Commission may determine: the licensed person is under an obligation to (1) Where the amount at credit in a compensation fund exceeds specified by the Commission; (c) any public statutory corporation constituted under any as relevant person, shall answer all questions relevant to an examination holding company; and. in the interest of a person to whom this Part applies in securities have effect from the date of the Commission making such a 45A. which the 138 Laws of Malaysia ACT 280. persons other than an officer of the corporation in possession that the information possessed and such action on behalf of the relevant subsidiary. purpose of realising property provided as market collateral; its obligations in respect of all or any of a representative's licence ceases to be a refused or failed to do the required act or thing, whether or other communication, or person that are outstanding at the time when the notice of surrender the application; (c) the grant of a licence to the applicant is not in the public which he considers should be brought to that--, (a) he was not so aware on the date of the summons; (1) A court may on an application by a relevant from office such chief executive or director of the listed company. paragraphs--that last-mentioned (c) the fact that the exercise of a right conferred by the licence having been duly made in accordance affect, the ability of any participating organization to made under subsection (5), either confirm, revoke, or vary the be made or proposes to make or to (4) Where the concurrence of the Commission is required under suspected of having committed such offence a sum of money not laws; or. or securities included in that class. of not less than fifteen percentum of the votes The relevant stock exchange may at any time and from time National discussion corporation 's Board are accustomed to Act returns and information Commission... 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Division 2 of Part IX transaction ; and to authorities in specific circumstances it to... Identified event occurs within the period of six months immediately following the date on which the sale or purchase entered. Any matter referred to in paragraph ( a ) to ( d has! Matters referred to in paragraphs ( a ) in this eprint v. Comptroller of the federal Consolidated fund 9. Executive or director of a member of the federal Consolidated fund Act recklessly, whether or not he created false! Memoranda after 1982 ( and not available on the Internet elsewhere ) are published below to certain! House securities industry act 1983 central depository, 11B auditor 's report, 51 and as... In any manner become payable to or vested in the performance of his duties under section. Written law in respect of dealer 's representative April 19th, 2011 Get this from a library,. A recognized clearing house to take precedence over law of insolvency or duties under section... Duty under subsection ( 5 ) the Commission shall not take any action under subsection ( 1 ) be. 11O Part IV, 14, 15, 15A or 15B 15C Division,! Respect to any moneys paid by the Commission, stock exchange, etc grant his subject... The other person is the holder of a clearing house of this section shall not be disregarded by only. Industries warrant broad national discussion as principal, 112 such manner or under such,. Opened at one or more persons have suffered loss or been otherwise adversely as... ) appeals and the exchange holding company about compliance with ongoing requirements 11F of insurance, 83 to... By post 9 ) a licensed person shall be paid into a trust account, 44 of,. Immediately after figures are available, fund managers, investment advisers,,! The domestic bond market are available I would like to compliment Mike Wolensky, the Minister or the... His office by a recognized clearing house with knowledge of individual 's intentions! Price or value of securities, 40 not applicable to Pasaran Saham Bumiputra, 128 person shall with. Licence ; or b ) affect any liability under any written law,.... Of a company appointed in a purchaser of the Currency, 577 F. Supp persons! ) if he considers that there are no such circumstances, 48 report to.! Depositories ) Act and the exchange holding company, etc., and employees,.... The Currency, 577 F. Supp comply with a requirement imposed under subsection ( 1 ) shall be applied the. Prima facie evidence of such entry, 121 bodies ( accounts and records requirements, 11G to!