SC disapplies Malaysian Take-overs Code to private companies
17 July 2009 | Kuala Lumpur
The Securities Commission Malaysia (SC) wishes to announce that Practice Note 1.2 of the Malaysian Code on Take-Overs and Mergers, 1998 (the Code) has been deleted pursuant to a gazette order that came into effect on 16 July 2009. This follows the SC’s press release dated 16 March 2009, which was issued after the Government’s announcement of specific new measures in the second stimulus package designed to facilitate greater access to the capital market.
With the deletion of this Practice Note, an acquirer who has obtained control in a private company on or after 16 July 2009 will no longer be subjected to the takeover provisions of the Code.
SECURITIES COMMISSION MALAYSIA
SC-World Bank-IOSCO Asia Pacific Hub Conference 2019: Enhancing Financial Inclusion through Islamic Finance and FinTech (From left to right):
Abayomi A. Alawode, Head of Islamic Finance, Finance, Competitiveness and Innovation, The World Bank Group
Datuk Syed Zaid Albar, Chairman of the Securities Commission Malaysia (SC)
Dr. Firas Raad, Country Manager for Malaysia, East Asia and Pacific, The World Bank Group
Datuk Zainal Izlan Zainal Abidin, Deputy Chief Executive of SC
The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.
