SECURITIES COMMISSION ACT 1993
MALAYSIAN CODE ON TAKE-OVERS AND MERGERS 1998
ARRANGEMENT OF CODE
|False or misleading information etc|
|GENERAL False or misleading information etc. |
38. (1) No person shall –
(2) It shall be a defence to a prosecution or any proceeding for a contravention of subsection (1) if it is proved that the defendant, after making enquiries as were reasonable in the circumstances, had reasonable grounds to believe, and did until the time of the provision of the document or information or engaging in the conduct was of the belief, that –
(3) Where information or a document has been circulated or provided to holders of voting shares or their professional advisers and the person who provided the information or document, or engaged in the conduct becomes aware that –
the person shall immediately disclose the fact to the Commission, and the relevant stock exchange if the securities of the offeree or offeror are listed on the relevant stock exchange, and make an announcement by way of a press notice containing such matters as were necessary to correct the false or misleading matter, the omission, or conduct, as the case may be.
|Submission of information and compliance with directions|
|GENERAL Submission of information and compliance with directions 39. A person involved in a take-over offer, merger or compulsory acquisition shall submit such information to the Commission as it may require from time to time and comply with any requirements as may be imposed by the Commission.|
|Repeal and transitional|
GENERAL Repeal and transitional 42.
(1) The Malaysian Code on Take-overs and Mergers 1987 [P.U.(B) 173/87], guidelines and practice notes made under it are repealed.
(2) For the avoidance of doubt, the provision introduced or amended by this Code shall apply to take-overs, mergers or compulsory acquisition made before or pending at the date of coming operation of this Code.