Companies Commission Of Malaysia Act 2001

Original Language Title: Companies Commission of Malaysia Act 2001

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Laws of Malaysia Act Reprinting 614 companies Commission of Malaysia Act 2001 Contains all amendments to 1 January 2006 published by the Commissioner of law revision, under the authority of Law Revision Act 1968 In collaboration with PerCetakan naSional malaySia bhD 2006 laws of Malaysia Act 614 companies Commission of Malaysia Act 2001 the date of Royal Assent............ 6 September 001 date of publication in the Gazette of ... ... more 7 September 001 Reprint before Reprinting the first............ 2002 Ssm laws of Malaysia Act 614 companies Commission of Malaysia Act 2001 arrangement of sections part i preliminary section 1. short title and commencement. interpretation of part ii of the Commission. The establishment of the Commission 4. Provision vesting provisions 5. seal 6. membership of the Commission 7. the term of Office 8. 9 cancellation and resignation. Vacation of Office 10. Remuneration or allowance 11. Chief Executive Officer and Director 1. 1st meeting. The Commission may invite others to meetings 14. power of Minister to give directions and require information 15. Disclosure of interest 16. minutes 4 laws of Malaysia Act 614 part iii functions and powers of the Commission section 17. The functions of the Commission 18. the power of the Commission 19. The Commission may establish committees of 0. Delegation of functions or powers of the Commission part iV provisions relating to employees 1. take the work of government employees. Appointment of other employees, agents and consultants. Regulations in respect of employment 4. Continuation and completion of disciplinary proceedings 5. Protection from personal liability 6. Public servants 7. public authorities Protection Act 1948 part V finance 8. Fund 9. Expenses shall be charged on the Fund 0. Preparation of the estimated 1. Preservation fund. account and report. power to borrow 4. Investment 5. payment to the Federal consolidated fund part Vi General 6. An initial prosecution Suruhanjaya Syarikat Malaysia 5 7. Proceedings conducted by the Commission 8. obligation of confidentiality 9. Minister's power to amend the first and second schedules 40. Regulations first schedule Second Schedule section 6 laws of Malaysia Act 614 companies Commission of Malaysia 7 laws of Malaysia Act 614 companies Commission of Malaysia Act 2001 an act to establish the companies Commission of malaysia, to provide for its functions and powers-powers and for matters connected therewith.
[16 April 2002, p. U (B) 127/2002] enacted by the Parliament of malaysia as follows: part i preliminary short title and commencement 1. (1) this Act may be cited as the companies Commission of malaysia Act 001.
() this Act come into force on such date as the Minister may, by notification in the Gazette, and the Minister may prescribe different dates for different provisions in this Act.
interpretation 2. In this Act, unless the context otherwise requires — "this Act" includes any subsidiary legislation made under this Act;
"Member" means a member of the Commission and including the Chairman;
"rights" means all rights, powers, privileges and immunities, whether actual, contingent or anticipated;
8 laws of Malaysia Act 614 "property" includes all property, movable and immovable, property, and all rights, interests or rights of the isemen, either in terms of equity or in law on, to or from the property, right in the action, money and good name;
"Committee" means any Committee established by the Commission under section 19;
"Chief Executive Officer" means the Chief Executive Officer appointed under section 11;
"Fund" means the Fund established under section 8;
"liability" means every type of liabilities, debts, liabilities, duties and obligations whether at present or in the future, actual or contingent, and whether payable or observed or implemented in malaysia or elsewhere;
"Minister" means the Minister for the time being charged with the responsibility for company registration, trust company and business;
"Business Registrar" means the Registrar of businesses under the registration of businesses Act 1956 [Act 197];
"Registrar" means the Registrar of companies under the companies Act 1965 [Act 125];
"Chairman" means the Chairman appointed under section 6;
"Corporation" has the meaning assigned to it in the companies Act, 1965;
"business" has the meaning assigned to it in the registration of businesses Act 1956;
"Commission" means the companies Commission of malaysia which was established under section;
"company" has the meaning assigned to it in the companies Act, 1965;
Companies Commission of Malaysia 9 "vesting date" means the date property, rights and liabilities specified by the Minister in order under subsection 4 (1), to which the Government of malaysia, the Registrar of companies and the Registrar Business is entitled or subject, transferred to and vested in the Commission;
"due date" means the date this Act comes into operation;
"vested", in respect of the property, including reserves the right of property in the future or contingent and rights for the reversion and balance.
Part ii the Commission establishment of Commission 3. (1) a body corporate by the name of "Suruhanjaya Syarikat malaysia" was established.
() The Commission shall have perpetual succession and a common seal.
() The Commission can sue and be sued (s).
(4) subject to and for the purposes of this Act, the Commission may, on such terms as it deems fit — (a) enter into contracts;
(b) acquire, purchase, take, hold and enjoy any kind of movable and immovable property; and (c) transfer, assign, surrender, refund, charge, mortgage, mendemiskan, assign it, transferred or in any other manner dispose of, or conduct any business on, any movable or immovable property or any interest on the property that vested in the Commission.
10 laws of Malaysia Act 614 Provision vesting provisions 4. (1) subject to this Act, the Minister may, from time to time, by order published in the Gazette, specify a date and vesting on that date all Malaysian Government property and all rights or liabilities of the Government of malaysia, the Registrar of companies and the Registrar of Business as determined by the Minister in such order shall, by virtue of this Act, transferred to and vested in the Commission without any conveyancing , assignment or transfer of title.
() every property vested by virtue of subsection (1) on the Commission shall be vested in the Commission by ownership, property rights or the same interest and holding similar as the property is vested or held immediately before the vesting date.
() every right in action vested by virtue of subsection (1) on the Commission may, on and after the vesting date, demand through suit, being recovered or enforced by the Commission in his own name and it shall not be necessary for the Commission, the Government of malaysia, the Registrar of companies or the Registrar of businesses giving notice to the person bound by the right in the action about the vesting provisions made under subsection (1).
(4) every rights and liabilities vested by virtue of subsection (1) on the Commission may, on and after the vesting date, demand through suit, being recovered or enforced by the Commission in his own name and it shall not be necessary for the Commission, the Government of malaysia, the Registrar of companies or the Registrar of businesses giving notice to the person the rights or liabilities affected by vesting provisions made under subsection (1).
(5) any legal proceedings pending by or against the Government of malaysia, the Registrar of companies or the Registrar of businesses relating to any property, rights or liabilities transferred to and vested in the Commission by virtue of subsection (1) may, on and after the vesting date, be continued by or against the Commission.
(6) in the case of rights and liabilities arising under any loan which is vested in the Commission on vesting date, the Commission may make any arrangements companies Commission of Malaysia 11 or an agreement with the Government of malaysia or any of the other parties regarding the rights and liabilities.
(7) on and after the vesting date, any agreement in relation to any property, rights and liabilities transferred to and vested in the Commission under subsection (1) that the Government of malaysia, the Registrar of companies or the Registrar of businesses become parties to it immediately before the vesting date, whether in writing or not, and whether or not such kind until rights and liabilities under the agreement assignable by the Malaysian Government , Registrar of companies or the Registrar business, shall have effect as if the Commission become a party to the agreement.
Seal 5. (1) the common seal of the Commission shall include any design which is approved by the Commission and such seal may, from time to time, be broken, changed, altered and made anew as it deems fit by the Commission.

() the common seal shall be kept in the custody of the Chairman or of any other persons authorized by the Commission, and shall be authenticated either by the Chairman or by the authorized person or by any officer authorized by the Chairman in writing.
() All deeds, documents and other instruments purporting to be sealed with the common seal and authenticated in accordance with subsection () shall be deemed to have been validly executed until the contrary is proved.
(4) the common seal of the Commission shall be officially and judicially noticed.
membership of the Commission 6. (1) the Commission shall consist of the following members who shall be appointed by the Minister: (a) a Chairman; (b) the Chief Executive Officer; and (c) not less than five and not more than seven other people, three of whom shall be from the civil service.
1 laws of Malaysia Act 614 () a member appointed under paragraph (1) (c) other members of the public service shall be qualified person as defined in the legal profession Act 1976 [Act 166] or people with knowledge or relevant experience in matters of commercial or company.
the term of Office 7. subject to any conditions specified in the instrument of appointment, a member of the Commission shall, unless he first put or clear his Office or his appointment is sooner revoked, hold office for a term not exceeding three years and are eligible for re-election.
Revocation and resignation 8. (1) the appointment of any member of the Commission may, at any time, be revoked by the Minister without assigning any reason for the revocation.
() A member may resign his Office by giving notice in writing to the Minister.
Vacation of post 9. the Office of a member of the Commission shall be vacated: (a) if he dies;
(b) if he has been convicted of any offence and was sentenced to imprisonment for a term not less than four months;
(c) if he becomes bankrupt;
(d) if he is of unsound mind or otherwise unable to perform his duties; or (e) if he fails to attend meetings of the Commission three times in a row without the permission of the Chairman or, in the case of the Chairman, without the permission of the Minister.
Companies Commission of Malaysia 1 remuneration or allowance 10. members of the Commission and any person invited to attend any meeting or deliberation of the Commission under section 1 may be paid such remuneration or allowance as determined by the Minister.
Chief Executive Officer and Director 11. (1) the Minister shall appoint — (a) a person who is a qualified as defined in the legal profession Act 1976 or who have knowledge or relevant experience in commercial matters or of the company to become Chief Executive Officer of the Commission; and (b) two people, known as Director, to become Deputy to the Chief Executive Officer, upon such terms and conditions as the Minister may, for the proper administration of this Act and the law specified in the first schedule, and may revoke the appointment of any person so appointed without assigning any reason for the revocation.
() the Chief Executive Officer shall be responsible for the day-to-day administration of the Commission.
() The Director shall be subject to the direction and control of the Chief Executive Officer and Director may perform all the duties of the Chief Executive Officer under this Act and the law specified in the first schedule as determined by the Chief Executive Officer.
(4) if the Chief Executive Officer is unable to perform his duties temporarily due to illness or any other reason, one Director may attend any meeting of the Commission or any Committee as his successor.
14 laws of Malaysia Act Meeting 614 12. (1) the Commission shall meet as often as necessary for the performance of its functions.
() the quorum of the meeting is five.
() if about a question to be determined by the Commission there is the same number of votes, the Chairman shall have the casting vote.
(4) if the Chairman is absent or unable to act due to illness or any other reason, any member of the Commission other than the Chief Executive Officer may be appointed by the members present to chair the meeting.
(5) subject to the provisions of this Act, the Commission shall determine its own procedure.
the Commission may invite others to meetings 13. The Commission may invite any person to attend any meeting or deliberation of the Commission for the purpose of advising it on any matter under discussion, but any person so attending shall have no right to vote at the meeting or deliberation.
power of Minister to give directions and require information 14. (1) the Minister may, from time to time, giving the Commission directives of a General in accordance with the provisions of this Act relating to the functions of the Commission and the Commission shall give effect to such directions.
() The Commission shall give the Minister such statement, accounts and information relating to the implementation of any of its functions under this Act or the law specified in the first schedule as required by the Minister from time to time.
Companies Commission of Malaysia 15 disclosure of interest 15. (1) a member of the Commission or any Committee that has or acquires the interest directly or indirectly by himself, through a member of his family or through its affiliates in connection with any matter under discussion by the Commission or Committee shall disclose to the Commission or Committee, as the case may be, the fact and the nature of the interest.
() A disclosure under subsection (1) shall be recorded in the minutes of meetings of the Commission or Committee, as the case may be, in which the matter is discussed and, after the disclosure, the Member — (a) shall not be counted for the purpose of forming the quorum of the meeting of the Commission or Committee, as the case may be; and (b) cannot take part or are present in any discussion or decision of the Commission or Committee, as the case may be, when the matter is discussed or decided.
() any member of the Commission or Committee who did not disclose his interest as required under subsection (1) commits an offence and shall on conviction be liable to a fine not exceeding one hundred thousand ringgit or to imprisonment for a term not exceeding three years or to both.
(4) no act or proceeding of the Commission or the Committee may ditaksahkan on the ground that any member of the Commission or Committee has violated the provisions of this section.
(5) for the purposes of this section — (a) "family member", in respect of a member of the Commission or a Committee, including — (i) his spouse; (ii) the parent (including parent's spouse);
16 laws of Malaysia Act 614 (iii) his children (including adopted children or stepchildren);
(iv) other siblings (including brothers husband spouse); and (v) husband or his wife or his sister; and (b) "associate", in respect of a member of the Commission or a Committee, means — (i) any person who is a member or employee of the trustee (s);
(ii) any of the Member firms or any nominee of his, is a partner;
(iii) partner to the Member;
(iv) the Trustees of a trust under which the Member or a member of his family to be of a trust; or (v) any corporation within the meaning of the companies Act 1965, which to the Member or any nominee of his or of a member of his family to become its Director or has a controlling interest or a share of the total value of not less than thirty per cent of the total issued capital of the Corporation.
Minutes 16. (1) the Commission and every Committee shall cause minutes of all its meetings to be maintained and stored in a proper form.
() any minutes made of meetings of the Commission or a Committee, if duly signed, shall, in any proceedings, be admissible as prima facie evidence of the facts stated in the minutes that and every meeting of the Commission or a Committee in respect of the proceedings: has been so made shall be deemed to have been duly convened and held and all members of the meeting have been duly qualified to act.
Companies Commission of Malaysia 17 part iii functions and powers of the Commission the functions of the Commission 17. The functions of the Commission shall — (a) to ensure that the provisions of this Act and the law specified in the first schedule administered, enforced, given strong powers, conducted and complied with;
(b) to act as agents of the Government and to provide services in administering, collecting and enforcing payment of the prescribed fee or any other charges under the law specified in the first schedule;

(c) to regulate matters relating to corporations, businesses and companies in relation to the law specified in the first schedule;
(d) to motivate and encourage proper conduct among the directors, Secretaries, managers and other officers of a corporation, and self regulation by the Corporation, company, business, industrial and professional groups in the corporate sector in order to ensure that all corporate and business activities are carried out in accordance with the norms that have been established on good corporate governance;
(e) to enhance and promote the supply of corporate information under any of the laws specified in the first schedule and to create and develop a facility with it any corporate information received by or filed with or submitted to the Commission can be analyzed and provided to the public;
(f) to carry out research and Commission studies on any matters relating to corporate and business activities;
18 laws of Malaysia Act 614 (g) to advise the Minister generally on matters relating to corporations, businesses and companies in relation to the law specified in the first schedule; and (h) to do all such activities and do all things necessary or expedient and proper for the administration of the Commission, or for any other purpose as may be directed by the Minister.
the power of the Commission 18. (1) the Commission shall have power to do all that is necessary or expedient for or in connection with the implementation of its functions.
() without prejudice to the generality of subsection (1), the authority of the Commission shall include power — (a) to use the all property of the Commission, movable and immovable, in such a way that it is found expedient by the Commission include obtaining a loan with mortgage the property;
(b) to impose fees or charges for services rendered by the Commission as may be prescribed by the Minister by regulations made under section 40;
(c) to appoint agents, experts or consultants as it deems fit to assist the Commission in carrying out its functions;
(d) to provide loans to employees of the Commission for any purpose approved by the Minister;
(e) to formulate and implement human resource development and the financing plan and cooperation for the implementation of its functions properly and effectively;
(f) to cooperate with any corporate body or Government Agency for the purposes of performing the functions of the Commission; and (g) to do anything incidental to any of the functions and powers.
Companies Commission of Malaysia 19 () the Commission shall have all the powers necessary for or in connection with, or reasonably incidental to, the implementation of its functions under the law specified in the first schedule.
(4) for the avoidance of doubt declared that the authority of the Commission shall not include the power of the Chief Executive Officer as provided in law set out in the first schedule.
the Commission may establish committees 19. (1) the Commission may establish such committees as it considers necessary or expedient to assist it in the performance of its functions under this Act.
() a member of a Committee established under subsection (1) may be appointed from among the members of the Commission or any other person as fit by the Commission.
() the person who is disqualified to be a member of the Commission under section 9 was also disqualified to be a member of a Committee.
(4) the members of a Committee shall hold office for such period as may be specified in the letter of appointment and shall be eligible for re-election.
(5) the Commission may revoke the appointment of any member of the Committee without assigning any reason for the revocation.
(6) a member of a Committee may resign by giving notice in writing to the Chairman.
(7) a Committee established under this section may appoint any of its members to be Chairman and may regulate its own procedure, and the Committee on the exercise of its powers shall be subject to and act in accordance with any instructions given to the Committee by the Commission.
0 the laws of Malaysia Act 614 (8) members of a Committee or any person invited to attend any meeting may be paid such allowances and other expenses as determined by the Commission.
(9) meetings of a Committee shall be held at such time and at the place determined by the Chairman of the Committee, subject to subsection (7).
Delegation of functions or powers of the Commission 20. (1) the Commission may delegate any of its powers or functions to any Committee established under section 19 as it regards necessary or appropriate.
() any function or power delegated under this section — (a) may be represented as such subject to such conditions or restrictions as are applicable generally or specifically by the Commission; and (b) shall be carried out by the Committee in the name of and on behalf of the Commission.
() The Delegation under this section shall not prevent the Commission from performing or conducting himself any function or power delegated to that at any time.
Part iV provisions relating to employees to employ government employees 21. (1) the Commission shall, on the appointed date, accept into its employment every person who immediately before that date are in the Employment Office of the Registrar and the Registrar of Companies and Businesses that have been given a choice by the Malaysian Government and chose to serve as an employee of the Commission.
Companies Commission of Malaysia 1 () every such person who opts under subsection (1) to serve as an employee of the Commission shall be employed by the Commission on the terms and conditions of service no less favourably than the terms and conditions of service to which he is entitled to immediately before the appointed date.
() Up to the terms and conditions of service of employees may be determined by the Commission, the scheme and terms and conditions of service of the employees of the Government shall continue to apply to every person employed by the Commission under subsection (1).
(4) the Minister may by order make such modifications as are necessary to the scheme and terms and conditions referred to in subsection () for the purpose of removing difficulties arising from the provisions of that subsection.
Appointment of other employees, agents and consultants 22. (1) the Commission may, from time to time, appoint and employ upon such terms and conditions as fit by the Commission any other employees necessary for the proper administration of this Act and the law specified in the first schedule.
() The Commission may appoint and employ agents and consultants to manage any business or to do any act required to be dealt with or performed on the performance of its functions or to carry out the purposes of this Act.
Regulations concerning the employment 23. (1) the Commission may, from time to time, make regulations with respect to the Employment Commission.
() The regulations made under this section may include provision for — (a) the methods of appointment, and the terms and conditions of service of the employees of the Commission; and the laws of Malaysia Act 614 (b) the payment of remuneration, pensions and other benefits to employees of the Commission.
Continuation and completion of disciplinary proceedings 24. (1) If on the appointed date any disciplinary proceedings pending or existing against any Government employees who have chosen to get into the services of the Commission, the proceedings shall be continued and completed by the Commission, and the law applicable to the employee immediately before the appointed date in relation to the proceedings shall apply to the proceedings continued and completed under this section.
() An order, decision or direction made or given by an authority of the disciplinary Commission pursuant to this section shall be applicable to such employees have effect and the effect of the order, decision or direction made or given by the disciplinary authority, the disciplinary board or the disciplinary Appeal Board, as the case may be, under the applicable law referred to in subsection (1).
() the Minister may by order make such modifications as are necessary to the laws referred to in subsection (1) in its application to such employees for the purpose of removing difficulties arising from the provisions of that subsection.
Protection from personal liability 25. No suit or other legal proceedings can be brought against any member or employee of the Commission or any other person under the direction of the Commission for anything done or intended to be done in good faith in the execution or purported execution of this Act or any of the laws specified in the first schedule.
Public servants 26. All members of the Commission or any of its committees or any of its officers, servants or agents of the Commission during

The companies Commission of Malaysia fulfilling his duties as a member, officer, agent or servants shall be deemed to be public servants within the meaning of the Penal Code [Act 574].
public authorities Protection Act 1948 27. public authorities Protection Act 1948 [Act 198] shall apply to any action, suit, prosecution or proceedings against the Commission or any employee or agent of the Commission in respect of any act, neglect or default made or done by him on such property or upon the nature of the officers described in law as specified in the first schedule.
Part V Financial Fund 28. (1) a Fund for the purposes of this Act, to be administered and controlled by the Commission, was established.
() the Fund shall consist of — (a) all money received by the Commission for services rendered by the Commission to the Government or for services rendered by the Commission to any person;
(b) all moneys received by the Commission through a grant;
(c) all moneys derived from the disposal, leasing or rental, or any other business about, any property vested in or acquired by the Commission;
(d) all moneys derived as income from investments by the Commission;
(e) all moneys borrowed by the Commission under this Act; and (f) all other moneys lawfully received by the Commission.
4 laws of Malaysia Act 614 expenses shall be charged on the Fund 29. the Fund shall be expended for the purpose of — (a) to pay any expenses lawfully incurred by the Commission, including fees and legal costs and fees and other costs, and the remuneration of employees of the Commission, including lending, retirement allowance, pension or gratuity;
(b) pay any expenses, costs or other expenses incurred or accepted properly by the Commission in the performance of its functions or exercise of its powers under this Act;
(c) purchase or rent equipment, machinery and materials, to acquire land and to erect the building, and exercise such other functions and the undertaking in the performance of its functions or exercise of its powers under this Act;
(d) refund any moneys borrowed under this Act and the interest payable thereon; and (e) generally, to pay any expenses of carrying out the provisions of this Act.
The preparation of the estimate of 30. (1) the expenditure of the Commission to the extent of any amount allowed by the Commission for any one financial year shall be payable out of the Fund.
() Before the beginning of each financial year, an estimate of expenditure for the next financial year in such form and containing such particulars as may be directed by the Minister shall be forwarded by the Commission to the Minister for his approval, and the Minister shall, before the beginning of the next financial year, told the Commission about the amount authorised for expenditure generally or about the amount allowed for each description of expenditure.
() The Commission may, at any time, submit to the Minister a supplementary estimate for any one of the companies Commission of Malaysia 5 financial year and the Minister may allow the whole or any part of the additional expenditure included in the supplementary estimates.
Conservation Fund 31. It shall be the duty of the Commission to maintain the Fund by implementing the functions and exercise the powers under this Act in such a way that with uncertain that the total revenues of the Commission is sufficient to pay all sums properly chargeable on revenue account, including depreciation and interest on capital, from year to year.
account and report 32. (1) the Commission shall cause to be kept proper accounts for and reports should be about its activities and shall, as soon as practicable after the end of each financial year, cause provided — (a) a statement of accounts of the Commission shall include a balance sheet and income and expenditure accounts; and (b) a statement of its activities, for that financial year.
() The Commission shall as soon as may send a copy of the statement of account certified by the Auditors and a copy of the Auditors ' report to the Minister which shall be so laid before both houses of Parliament.
() of the statutory bodies (accounts and annual reports) 1980 [Act 240] shall apply to the Commission.
power to borrow 33. (1) the Commission may, from time to time, with the prior approval of the Minister and the Minister of finance, borrow, at such rate of interest and for such period and on such 6 laws of Malaysia Act 614 terms about the timing and method of repayment and otherwise as may be approved by the Minister and the Minister of finance, any sums required by the Commission to meet its obligations or to carry out any of its functions under this Act.
() The Commission may, from time to time, with the approval of the Minister, borrow money by issuing bonds, debentures, debenture stock or any other securities upon such terms as it considers expedient to fulfil any of its obligations or performing any of its functions under this Act.
34 investments. money the Commission may, to the extent that money is not required to be expended by the Commission under this Act, be invested in such a way that fit by the Commission.
Payment to the Federal Consolidated Fund 35. (1) the Commission shall pay to the Federal Consolidated Fund an amount equal to fifty per cent of the total annual revenue of the Commission at such time and in such manner as may be prescribed by the Minister of finance.
() the Minister of finance after consultation with the Minister may, by order published in the Gazette, vary the percentage in subsection (1).
Part Vi General commencement of prosecution 36. No prosecution for any offence under this Act and the law specified in the first schedule shall be instituted except by or with the consent in writing of the Prosecutor.
Companies Commission of Malaysia 7 Proceedings conducted by officers of the Commission 37. An officer of the law as defined in Government Proceedings Act 1956 [Act 359] or an officer of the Law Commission which has been admitted as a barrister and solicitor under the legal profession Act 1976 can be present in any civil proceedings involving the Commission or any person holding any Office specified in the second schedule in the implementation of its functions under any law specified in the first schedule and may make and do all such acts and applications in respect of proceedings on behalf of the Commission or person, as the case may be.
obligation of secrecy 38. (1) except as provided in this Act or for the purpose of any civil or criminal proceedings under any law, no Member, officer, employee or agent of the Commission, whether in the tenure of his Office or its employment period or afterwards, and there are other people who have access in any way whatsoever to any information or document relating to the Affairs of the Commission may give or otherwise disclose the information or document to any person.
() any person who contravenes subsection (1) commits an offence and shall on conviction be liable to a fine not exceeding one hundred thousand ringgit or to imprisonment for a term not exceeding three years or to both.
Minister's power to amend the first and second schedules 39. the Minister may, by order published in the Gazette, which amend the first and second schedules.
Regulations 40. the Minister may, on the recommendation of the Commission, make any regulations necessary or expedient to carry out the purposes of this Act.
8 laws of Malaysia Act 614 first schedule [sections 11, 14, 17, 5, 7, 6 and 7] 1. of the companies Act 1965 [Act 125]. the trust companies Act 1949 [Act 100]. (Prohibition) Act kootu funds 1971 [Act 28] 4. registration of businesses Act 1956 [Act 197] 5. any subsidiary legislation made under the acts referred to in items 1 and 4.
Second Schedule [section 7] 1. The Chairman appointed under section 6.
. Chief Executive Officer appointed under section 11.
. Directors who are appointed under section 11.
4. The regional Registrar, Deputy Registrars and assistant registrars appointed or be deemed to be appointed under section 7 of the companies Act 1965.
5. Inspector, Deputy Registrars and assistant registrars appointed or be deemed to be appointed under section registration of businesses Act 1956.
Companies Commission of Malaysia 9 laws of Malaysia Act 614 companies Commission of Malaysia Act 2001 List Amendment law short title force amend from — no — 0 laws of Malaysia Act 614 laws of Malaysia Act 614 companies Commission of Malaysia Act 2001 List Section amended Section power amend with effect from — no —