|
SECTION |
TITLES |
CMSA SECTION |
|---|---|---|
|
PART I |
PRELIMINARY |
|
|
1 |
Short title, commencement and application. |
|
|
2 |
Interpretation. |
2 |
|
3 |
Associated person. |
3 |
|
4 |
Interest in securities. |
4 |
|
PART II |
CAPITAL ISSUES COMMITTEE |
|
|
5 |
[Repealed]. |
|
|
6 |
[Repealed]. |
|
|
PART III |
STOCK EXCHANGES AND CLEARING HOUSES |
|
|
7 |
Establishment of stock markets. |
7 |
|
8 |
Power of Minister to approve a stock exchange |
8 |
|
8A |
Recognised clearing house. |
38 |
|
8B |
Withdrawal of recognition of clearing house. |
39 |
|
8C |
Effect of withdrawal of recognition of clearing house |
40 |
|
8D |
Appointment of directors of stock exchange and exchange holding company. |
10 |
|
9 |
Commission to approve amendment to rules of stock exchange. |
9 |
|
9A |
Commission to approve amendment to rules of recognised clearing house. |
9 |
|
9B |
Duties of stock exchange. |
11 |
|
9C |
Closure stock exchange in emergency. |
27 |
|
9D |
Withdrawal of approval of stock exchange. |
12 |
|
9E |
Effect of withdrawal of approval of stock exchange. |
13 |
|
10 |
Exchange holding company, stock exchange and recognised clearing house to provide assistance to Commission. |
29 |
|
11 |
Powers concerning compliance with the provisions of this Act and rules of the stock exchange, etc. |
354 |
|
11A |
Power of Commission to prohibit trading in particular securities. |
28 |
|
11B |
Suspension order relating to stock exchange, recognised clearing house or central depository. |
30 |
|
11C |
Exchange holding company. |
14 |
|
11D |
Power of Minister to approve an exchange holding company. |
15 |
|
11E |
Annual Regulatory Report on compliance with ongoing requirements. |
16 |
|
11F |
Special report by exchange holding company about compliance with ongoing requirements. |
17 |
|
11G |
Withdrawal of approval of an exchange holding company. |
18 |
|
11H |
Effect of withdrawal of approval of exchange holding company. |
19 |
|
11I |
Listing of exchange holding company on stock exchange. |
20 |
|
11J |
Duties of an exchange holding company. |
21 |
|
11K |
Risk Management Committee of exchange holding company. |
22 |
|
11L |
Power to issue directions |
26 |
|
11M |
Restriction on exchange holding company from reducing its shareholding. |
23 |
|
11N |
Disposal and acquisition of assets, etc. |
24 |
|
11O |
Control in shareholding of exchange holding company. |
25 |
|
11P |
Power of Commission upon contravention of sections 11M, 11N and 11O. |
31 |
|
PART IV |
LICENCES |
|
|
12 |
Dealer’s licence. |
58 |
|
13 |
Dealer’s representative’s licence. |
59 |
|
14 |
Investment adviser’s licence. |
58 |
|
15 |
Investment representative’s licence. |
59 |
|
15A |
Fund manager’s licence. |
58 |
|
15B |
Fund manager’s representative’s licence. |
59 |
|
15C |
Contravention of section 12,13,14,15,15A, or 15B. |
|
|
16 |
Application for licence or renewal. |
60 |
|
16(1) |
|
|
|
16(1A) |
|
|
|
16(2) |
|
|
|
16(3) |
63 |
|
|
17 |
Grounds for refusal to grant or renew licence. |
64,65 |
|
17A |
Licensed person to notify Commission of disqualifying event. |
74 |
|
18 |
Grant or renewal of licences. |
61 |
|
19 |
Commission’s power to vary licences in certain circumstances. |
69 |
|
20 |
Power of Commission to enquire into securities transactions. |
66 |
|
20A |
Minimum financial requirements. |
67 |
|
21 |
Power of Commission to impose conditions or restrictions on licences. |
62 |
|
22 |
False statements. |
71 |
|
23 |
Deposit to be lodged in respect of dealer’s or fund manager’s licence. |
70 |
|
24 |
Period of licence. |
68 |
|
25 |
Notification of change in particulars. |
78 |
|
26 |
Register of licence holders. |
77,79 |
|
27 |
Revocation and suspension of licence. |
72,73 |
|
28 |
Appeal. |
80 |
|
28A |
Surrender of licence. |
81 |
|
28B |
Powers concerning compliance with conditions of licence, etc. by licensed persons. |
356 |
|
PART V |
RECORDS |
|
|
29 |
Application of this Part. |
82 |
|
30 |
Register of securities. |
83 |
|
31 |
Notice of particulars to Commission. |
84 |
|
32 |
Defence to prosecution. |
85 |
|
33 |
Production of register. |
86 |
|
34 |
Particulars of financial journalists. |
87 |
|
35 |
Commission may supply copy of the extract of a register. |
88 |
|
PART VI |
CONDUCT OF SECURITIES BUSINESS |
|
|
36 |
[Repealed by Act A661:s.13]. |
|
|
37 |
Certain representation prohibited. |
89 |
|
38 |
Issue of contract notes. |
90 |
|
39 |
Certain persons to disclose certain interests in securities. |
91 |
|
40 |
Dealings as principal. |
97 |
|
40A |
Recommendations by adviser. |
92 |
|
40B |
Duty to furnish Commission with such returns and information as Commission requires. |
95 |
|
40C |
Additional obligations on licensed persons. |
96 |
|
41 |
Shortselling. |
98 |
|
PART VII |
ACCOUNTS AND AUDIT |
|
|
42 |
Application of this Division. |
109 |
|
43 |
Accounts to be kept by dealers. |
108 |
|
44 |
Certain monies received by dealers to be paid into a trust account. |
111 |
|
44A |
Property other than monies received by dealers. |
112 |
|
45 |
Purposes for which monies may be withdrawn from trust account. |
113 |
|
45A |
Dealer to supply copies of entries in books. |
114 |
|
46 |
Monies in trust accounts not available for payment of debts, etc. |
113 |
|
47 |
Claims and liens not affected. |
115 |
|
47A |
Application of Division. |
120 |
|
47B |
Accounts to be kept by fund manager. |
|
|
47C |
Operation of trust account. |
122 |
|
47D |
Client’s monies. |
123 |
|
47E |
Right to copies of book entries, inspection of contract notes, etc. |
124 |
|
47F |
Commission’s power to transfer client’s property and monies to a trust company, etc. under certain circumstances. |
125 |
|
48 |
Appointment of auditor. |
126 |
|
48A |
Associates not to be appointed as auditors. |
126 |
|
49 |
Relevant person to lodge auditor’s report. |
127 |
|
50 |
Duties of auditor. |
128 |
|
51 |
Duty of relevant person or its directors or officer to furnish information. |
129 |
|
52 |
Power of Commission to appoint independent auditor, etc. |
130 |
|
53 |
Power of Commission to appoint an independent auditor, etc., upon application of client. |
131 |
|
54 |
Independent auditor, etc., to report to Commission. |
132 |
|
55 |
Powers of independent auditor, etc. |
133 |
|
56 |
Prohibition against communication of certain matters by independent auditors, etc., and employees. |
134 |
|
57 |
Books, accounts and records to be produced upon demand. |
135 |
|
58 |
Penalty for destroying, concealing or altering records or sending records or other property out of Malaysia. |
136 |
|
59 |
Rights of board of stock exchange to impose obligations on participating organization. |
137 |
|
PART VIII |
COMPENSATION FUND |
|
|
60 |
Interpretation. |
140 |
|
61 |
Establishment of compensation fund. |
141 |
|
62 |
Monies constituting compensation fund. |
142 |
|
63 |
Funds to be kept in separate account. |
143 |
|
64 |
Payments out of compensation fund. |
144 |
|
65 |
Accounts of compensation fund. |
145 |
|
66 |
Requirement of relevant stock exchange to pay portion of net income into compensation fund. |
146 |
|
67 |
Contributions to compensation fund. |
147 |
|
68 |
Provision where compensation fund exceeds fifty million ringgit. |
148 |
|
69 |
Levy in addition to annual contribution. |
149 |
|
70 |
Power of stock exchange to make advances to compensation fund. |
150 |
|
71 |
Investment of monies in compensation fund. |
151 |
|
72 |
Application of compensation fund. |
152 |
|
73 |
[Repealed] | |
|
74 |
[Repealed]. | |
|
75 |
[Repealed]. | |
|
76 |
[Repealed]. | |
|
77 |
[Repealed]. | |
|
78 |
Power of relevant stock exchange to require production of securities. |
153,168 |
|
79 |
Subrogation of relevant stock exchange to rights and remedies of claimant upon payment from compensation fund. |
154 |
|
80 |
Payment of claims only from compensation fund. |
155 |
|
81 |
[Repealed]. |
|
|
82 |
Power of relevant stock exchange to enter into contract of insurance. |
156 |
|
83 |
Application of insurance monies. |
157 |
|
83A |
Monies in compensation fund where relevant stock exchange wound up. |
158 |
|
83B |
Regulations in respect of compensation fund. |
141(3) |
|
PART VIIIA |
CAPITAL MARKET DEVELOPMENT FUND |
|
|
83C |
Establishment of Capital Market Development Fund |
332 |
|
83D |
Assets constituting Fund. |
333 |
|
83E |
Objects of the Fund, etc. |
334 |
|
83F |
Membership of the Board. |
335 |
|
83G |
Tenure of office. |
336 |
|
83H |
Resignation and revocation of appointment. |
337 |
|
83I |
Vacation of office. |
338 |
|
83J |
Quorum and procedures of meetings. |
339 |
|
83K |
Disclosure of interest. |
340 |
|
83L |
Conservation of the Fund. |
341 |
|
83M |
Financial year. |
342 |
|
83N |
Accounts and audit. |
343 |
|
83O |
Power of Minister in relation to the Board. |
344 |
|
83P |
Dissolution of the Fund. |
345 |
|
83Q |
Power to make regulations. |
346 |
|
PART IX |
TRADING IN SECURITIES |
|
|
Division 1 |
Prohibited Conduct |
|
|
84 |
False trading and market rigging transactions. |
175 |
|
85 |
Stock market manipulations. |
176 |
|
86 |
False or misleading statements, etc. |
177 |
|
87 |
Fraudulently inducing persons to deal in securities. |
178 |
|
87A |
Use of manipulative and deceptive devices. |
179 |
|
87B |
Person or transaction to whom or which sections 84,85,86,87 and 87A do not apply. |
180 |
|
88 |
Dissemination of information about illegal transactions. |
181 |
|
88A |
Civil liability for contravention of sections 84,85,86,87,87A and 88. |
199,210 |
|
88B |
Penalty for offence under Division 1. |
182 |
|
88C |
Acts and omission within and outside Malaysia relating to prohibited conduct under Division 1. |
174 |
|
Division 2 |
Insider Trading |
|
|
89 |
Information. |
183 |
|
89A |
Information generally available. |
184 |
|
89B |
Material effect on price or value of securities. |
185 |
|
89C |
Trading in securities. |
186 |
|
89D |
Reference to “procure”. |
187 |
|
89E |
Prohibited conduct of person in possession of inside information. |
188 |
|
89F |
Proof of contravention of section 89E. |
189 |
|
89G |
Secrecy arrangements by corporation. |
190 |
|
89H |
Secrecy agreements by partnership. |
191 |
|
89I |
Underwriting and sub-underwriting. |
192 |
|
89J |
Non-application of section 89E to transactions carried out under schemes of arrangement, etc. under any written law. |
193 |
|
89K |
Exception for corporation with knowledge of its intention. |
194 |
|
89L |
Exception of knowledge of individual’s own intentions or activities. |
195 |
|
89M |
Unsolicited transaction by a broker. |
196 |
|
89N |
Exception for redemption of units of a unit trust scheme under buy-back covenant. |
197 |
|
89O |
Parity of information defence. |
198 |
|
89P |
Acts and omission within and outside Malaysia relating to insider trading. |
|
|
Division 3 |
Liability for Unlawful Activity |
|
|
90 |
Civil remedies. |
200,211 |
|
90A |
Recovery of loss or damages. |
201 |
|
91 |
[Deleted] |
|
|
92 |
Dealer to give priority to client’s order. |
93 |
|
93 |
Dealings by employees of holders of licences. |
94 |
|
PART X |
ENFORCEMENT AND INVESTIGATION |
|
|
Division 1 |
General |
|
|
94 |
Interpretation. |
347 |
|
94A |
Inspection of books and records of licencee and others. |
|
|
95 |
Power of Commission to require production of books. |
348 |
|
95A |
Power to specify form and manner of information, returns or documents and period for submission. |
350 |
|
96 |
Offences. |
349 |
|
97 |
Privileges. |
351 |
|
97(1) |
|
|
|
97(2) |
|
|
|
97(3) |
347 |
|
|
98 |
Disclosure to Commission. |
352 |
|
99 |
Investigation of certain matters. |
|
|
99A |
Disclosure of information relating to dealing in securities. |
353 |
|
99B |
Duty of chief executive and directors of listed corporation to disclose interests in securities. |
317 |
|
99C |
Disqualification of chief executive or director of listed companies. |
318 |
|
99D |
Submission of information. |
319 |
|
99E |
Duties of auditor of listed corporations. |
320 |
|
99F |
Protection for persons against retaliation for reporting to authorities in specific circumstances. |
321 |
|
100 |
Power of court to make certain orders. |
360 |
|
100A |
Application for winding up. |
361 |
|
PART XA |
MODIFICATIONS TO THE LAW OF INSOLVENCY AND MISCELLANEOUS PROVISIONS RELATING TO THE OPERATIONS AND PROCEDURES OF THE RECOGNIZED CLEARING HOUSE |
|
|
101 |
Interpretation. |
41 |
|
102 |
Default rules. |
42 |
|
103 |
Proceedings of recognized clearing house to take precedence over law of insolvency. |
43 |
|
104 |
Supplementary provisions as to default proceedings. |
44 |
|
105 |
Duty to report on completion of default proceedings. |
45 |
|
106 |
Net sum payable on completion of default proceedings. |
46 |
|
107 |
Disclaimer of property, rescission of contracts, etc. |
47 |
|
108 |
Adjustment to prior transactions. |
48 |
|
109 |
Right of relevant office-holder to recover certain amounts arising from certain transactions. |
49 |
|
110 |
Law of insolvency in other jurisdictions. |
50 |
|
111 |
Participant to be a party to certain transactions as principal. |
51 |
|
112 |
Securities delivered to a recognized clearing house. |
52 |
|
113 |
Securities transfers in settlement. |
53 |
|
114 |
Purchase and sale of securities. |
54 |
|
115 |
Immunity. |
55 |
|
116 |
Preservation of rights, etc. |
56 |
|
117 |
Exemption from regulations on reporting of substantial shareholding and Division 3A of the Companies Act 1965. |
57 |
|
Division 2 |
|
|
|
118 |
[Deleted] |
|
|
119. |
[Deleted] |
|
|
PART XI |
GENERAL |
|
|
120 |
Prohibition of use of certain titles |
362 |
|
121 |
Copy of an entry in the dealer’s or fund manager’s record as prima facie evidence of such entry |
363 |
|
121A |
Decision of Minister to be final |
366 |
|
122 |
Offences by bodies of persons and by employees and agents |
367 |
|
122A |
Falsification of records by directors, employees and agents |
368 |
|
122B |
False reports to Commission, stock exchange or recognised clearing house |
369 |
|
122C |
Attempts, abetments and conspiracies |
370 |
|
122D |
Destruction, concealment, mutilation and alteration of records |
371 |
|
123 |
General penalty |
372 |
|
124 |
Compounding of offences |
373 |
|
125 |
Convicted persons liable to pay compensation |
374 |
|
126 |
Conduct of prosecution |
375 |
|
126A |
Indemnity |
376 |
|
126B |
[Deleted] |
|
|
126C |
Commission may be represented by any officer in civil proceedings |
See 154 SCA |
|
127 |
Regulations |
378 |
|
128 |
Provisions of Act not applicable to Pasaran Saham Bumiputra |
|
|
PART XII |
REPEAL AND TRANSITIONAL PROVISIONS | |
|
129 |
Repeal |
|
|
130 |
Saving |
|
|
131 |
Continuance of powers, rights, liabilities and duties of the Registrar |
|
|
132 |
Continuance of criminal and civil proceedings in relation to the Registrar |
|
|
133 |
Continuance of other rights, liabilities, etc., under repealed Act |
|
|
134 |
Prevention of anomalies |
|
