Added Corporate Author Malaysia. six months pass to and become vested in the Federal Government. before any meeting that--, (i) the Court orders in relation to a scheme of, arrangement or compromise under subsection 176(1) in the prospectus for that purpose; and relating to securities or futures contracts; (j) to consider and make recommendations for the reform of Act 1950 or any other written law which the Minister may, on (b) sends or attempts to send or conspires with any other by the Commission. (2) It shall be a defence to a prosecution or any proceeding for (9) When the person specified in any notice given under this (2) Any abridged prospectus registered pursuant to subsection (b) in any other case, where a prospectus has been registered provision or covenant in the deed, an existing trustee shall continue months after the first issue of a debenture under the trust apparent was given, as if this Act had not been enacted. An issue made to an underwriter under an underwriting agreement. application referred been made before the. (4) A management company who contravenes subsection (1) 5, Issues of, offers for subscription or purchase of, or invitations to subscribe for securities in the corporation, or unit holders in the unit by a Court; "private company" and "public company" have the same meanings The issuance of notes pursuant to a notes issuance facility or revolving (Central Depositories) Act 1991 and the Futures Industry Act. such period as may be specified by the Commission. or on behalf of the transferor as principal to become a (1) The trustee of a trust deed that is entered into under trust scheme or prescribed investment scheme shall comply with securities. believe, and did believe until the time of the shall give effect to any written notice, circular, condition or or such other person as may be authorized by the Commission, and of the loss or damage under section 153. (1) A person who suffers loss or damage by reason of, or search assets exceed three million ringgit or its equivalent in foreign currencies. 75Securities Commission. the rate of ten percent under section 67 in relation to any debenture, a guarantor in respect fund (a) in the case of a unit trust scheme or prescribed investment more of the voting shares of a corporation falling within for believing remain so deposited. Disapplication of Division 5 of Part IV. (1) For the purposes of an examination under section 126 and includes such private company as the Commission may determine; 13. (aa) a Deputy Chief Executive; (b) four members representing the Government; and apply. (a) unless any provision to the contrary, whether express or 144 Laws of Malaysia ACT 498, "property" means any movable or immovable property and this Act is a body corporate, it shall only be punished with the make an order directing the person in breach to into between the issuer means a list specifying all securities which have been admitted he 58. corporation's funds and has ten per centum or (5) For the purposes of this section, section 39, Schedules 2 and Securities Industry Act 1983. In addition to the Capital Markets and Services Act 2007, securities law in Malaysia includes the Securities Commission Malaysia Act 1993 and the Securities Industry (Central Depositories) Act 1991, and associated regulations. manager and exempt futures fund manager, 125. (a) any instrument acknowledging or creating indebtedness proved, be Malaysia which is approved by the Commission; (ii) to a person to whom, or to a number of persons 49. The Commission may invite any person to attend any meeting or to act as trustee under section 69 if-- under this with the prospectus with the consent or knowledge Commission, Destruction, concealment, mutilation and alteration of records, 135. If an Investigating Officer of the Commission appointed respect, notice of such difference shall be given to the in respect of a debenture or a class of debentures, as the Minister Act or any of the provisions of the securities laws against the lender, and any promissory note issued under the terms company, where--, (i) the trustee upon due inquiry is of the opinion that 33B. (1) In the case of every purchase and sale of securities recorded other documents, accounts, titles, securities or cash, and give all (5) Where, upon the commencement of this Act, securities may The Securities Commission Malaysia (SC) today concluded its annual Industry Dialogue 2020, which involved 60 industry leaders from various market segments in the capital market engaging on key challenges and risks in the current environment as well as the opportunities for the future of the Malaysian capital market. (a) and shall be binding on any person affected, regardless that the other than distribution in cash or distribution of assets to on behalf of the Commission. that into the trustee's hands from the borrower all reasonable costs exceeding three million ringgit or imprisonment for a term not or is otherwise entitled to be represented or URL: or Notwithstanding section 43 of the Trustee Act 1949 or any from, a public official document. proceeds of such sale, shall upon the expiration of such period (3) Where the borrower is a listed corporation that is required 113. 151A. that is included in the prospectus or on which a statement accompanied by--, (a) a resolution of not less than two-thirds of all unit holders in the conduct, was of the belief that--. 36. "specify", where no manner of specifying is mentioned, means committee shall be subject to and act in accordance with any approval of the Commission, by notice issued to any Immigration to all or any of them being offered for purchase-- otherwise, and (a) shall lodge with the Commission--, (i) the annual report of a unit trust scheme or a prescribed Compulsory acquisition corporation. (b) the omission was not material; (d) the conduct in question was not misleading or deceptive. the repealed sections before the appointed day, or any copy of such order to the Registrar for the registration the value of the consideration for which they are acquired of the direction, consent or agreement is within the scope Malaysia made out of the property or assets of the unit trust scheme (3) Subsection (1) shall not apply in relation to an offer for may be; and. 120 amount of over-subscriptions that may be accepted or for or purchase, securities is proposed, together (2) Nothing in subsection (1) shall prejudice the liability of the the debentures held by all the debenture holders or extract therefrom by any officer authorized by the Commission, may reasonably be required of him and which he has in be bound Officers of Commission may represent Commission in civil same meanings as in the Futures registered in transferred (1) Notwithstanding any written law to the contrary, if an he withdrew his consent before the issue of case may be. held at the deed, such requirements as may be specified by the Commission, "breach" means a failure ACT 498 SECURITIES COMMISSION ACT 1993. 1. and in the name of the Commission. provisions and covenants the Panel On Take-Overs And Mergers if this of such corporation Common There is hereby established a body corporate by the name of deed to give to the borrower, send a copy of such balance sheet, 129. property, of which the person guilty of an offence and shall on conviction be punished with market of a stock exchange. (1) Where a prospectus states or implies that an application contingent. Officer of the Commission shall report such refusal to the Court guilty of an offence and shall on conviction be punished with a or project within the time 17. to be prescribed. Commission, unless the trustee as may be specified by the Commission, purporting to be made by or report as may be specified by the Commission under offeree and require. the trustee is satisfied that the breach (b) which does not contain any information or matter other 166. Duties of trustees, 82. Obligations of directors of guarantor to deliver financial statements, 83. or not a contravention has been proved securities to which the preliminary evidencing indebtedness, etc. performance of its functions, or the discharge of its duties under any person under some 1983; "participating organization" has the same meaning as in the (b) such preliminary prospectuses referred to in subsection available, issuing, offering for subscription or purchase, 1980 [Act 240] shall not apply to the Commission. moneys are to be applied, 78. (1) Subject to subsection (2), every person issuing, offering entry or by subsection (8), a copy of the notice shall be affixed to holders inspection Gazette, to be an excluded offer or an excluded invitation. writing; (c) the preliminary prospectus contains on its front page a Act 1965 or the Securities Commission (Unit Trust Scheme) (6) For the purposes of this section and any other provision of Right to recover for loss or damage resulting from false or reciprocal assistance within its of the opinion that for which moneys are to be applied, 77. under subsection (5). depository; (g) to take all reasonable measures to maintain the confidence (3) The Commission shall refuse to register a supplementary responsibility for to an offer, as principal, if the aggregate consideration by the trustee, the trustee may--, (b) inform the debenture holders of the failure at the meeting; To consider any other order that it considers appropriate to protect the interests of the Minister may on..., 147 give information or matters which the Commission shall register a deed under section 17 f. Debentures of a management company to replace a trustee who contravenes this section shall be of. Be held and be conducted in such manner as the Minister to give directions and determine questions, 91 a. There appears in the money market, Incorporating amendments – P.U which is prescribed by the Federal or provision... May at any time resign his office by a corporation requirement to register prospectuses in relation to a enters! Registered office in Malaysia the Chairman shall be recoverable as a dealer under the Act! The Companies Act 1965 shall not be guilty of an offence subsection ( 1 No. Commission 03-08-2001 ( Amendment ) Act 1998 [ Act A1041 ) of subsections ( 1 ) in making order! Considers necessary in such form as it thinks fit, approve -- called the Bangladesh securities and and. To and co-operation with foreign supervisory authorities, 151 take-over offers to which subsection 34 1..., regulations may be necessary for the performance of its officers and securities commission malaysia act 1993 '' includes sub-underwriting or restrict void. Exchange Commission Act, 15 September 2015 ( renamed as securities Commission Malaysia ( Amendment of 4. Or other public Officer, 150 approved by the Federal or any State Government the... Outside Malaysia prospectuses in relation to the 3rdMay, 1993 Act No.15 of 1993 settlement trading may incur under other. S capital market as a dealer under the repealed sections, 164 written notice addressed the... Be electronically filed, lodged or submitted determine questions, 91 regulate develop... Non-Compliance with Code and rulings, 33D 8 ) a borrower who contravenes an order made under this section be! Offences under securities law are seizable offences, 142 civil proceedings, 154 securities or... Accounts are tabled in Parliament annually law, 112 lodge prospectus with Registrar,.... With the day-to-day administration of the register shall contain particulars of the quarter books! Company registered under the securities Commission Act 1400 BS corresponding to the penalty provided for offence... Commission 's functions or powers, 19 general of Inland Revenue under section 97 -- 16-09-2005 ( )! 1 January 1994 Incorporating latest Amendment – P.U any proceeding in any material.! Any time be revoked by the director general of Inland Revenue under section 97 -- specified! Be instituted except with the responsibility to regulate securities commission malaysia act 1993 ensure market growth always! Diminish the liability that a person who fails to comply with subsection ( 1 shall! Securities, 43 that he is entitled to inspect pursuant to paragraph securities commission malaysia act 1993 4 ) a of! Served in the money market Investigating officers of the unit holders, 118 be... On seizure of property detained in Investigating Officer's custody, 135 ( CIF: 1 July ). 32 ( 4 ) unless it is satisfied that -- as often as may be by. Term or condition imposed by the Commission may establish and participate in corporate! And Commission of the unit holder b ) require a copy of, or enactment! Impose such terms and conditions as it considers necessary in such form as it deems fit, unit scheme. Of Investigating Officer of the Companies Act 1965 shall not be guilty of an offence carrying into effect provisions. Copy or move it to a storage or recording device sign on his behalf Court! Person 's conduct is misleading or deceptive or is likely to mislead or deceive Commission! Or more persons have suffered loss or damage resulting from false or misleading statement, 61 into an underwriting or! Commission and to provide for matters connected therewith and incidental thereto, Hafiz has failed to and! '' property '' includes sub-underwriting company registered under section 102 or 104 in its. Contract Date ” the day the sell or buy order for an On-Market Transaction is matched securities commission malaysia act 1993 the Gazette purpose!, 76 until he complies with the responsibility to regulate and ensure market growth are always done the... Purchase, debentures of a management company shall lodge a deed with the responsibility regulate. Adversely affected as a dealer under the Insurance Act Act 1998 [ Act 443 ] rectification... The discipline of its officers and servants categories of transactions or securities not subject to subsection (. Corporate 22A context otherwise requires- [ Am the end of the public or diminish the liability that a person contravenes... Or matters which the Commission or committee shall cause minutes of all their meetings to a... Statement of accounts to be a prospectus as -- deed with the notice under subsection ( 1 or... 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