← Securities Industry (Central Depositories) Act 1991

Securities Industry (Central Depositories) Act 1991 s 3

Some sections could not be extracted from the official PDF, so this text may be incomplete.

s 3 Restriction on establishment of a central depository

(1) No person shall establish, maintain, operate or hold himself out as providing, maintaining or operating a system for the central handling of securities, whether or not listed on any stock exchange— (a) whereby all such securities are deposited with and held in custody by, or registered in the name of, the person or his nominee for the depositors and dealings in respect of those securities are effected by means of entries in accounts without the physical delivery of scrips; (b) which permits or facilitates the settlement of securities transactions or dealings in securities without the physical delivery of scrips; or (c) to provide other facilities and services incidental thereto. (2) Subsection (1) shall not apply to— (a) a central depository; (b) the Central Bank of Malaysia; and (c) any person exempted by the Minister under section 62A. (3) A person who contravenes subsection (1) shall be guilty of an offence and shall, on conviction, be liable to a fine not exceeding ten million ringgit or to imprisonment for a term not exceeding ten years or to both.

Malay text (authoritative)

Pindaan seksyen 4

Seksyen 4 Akta ibu dipinda— (a) dalam perenggan (2)(g), dengan memasukkan selepas perkataan “Menteri” perkataan “atau Suruhanjaya”; (b) dengan memasukkan selepas subseksyen (2) subseksyen yang berikut: “(2A) Sesuatu permohonan bagi kelulusan di bawah subseksyen (1) hendaklah diserahkan kepada Suruhanjaya, dan selepas itu Suruhanjaya hendaklah mengemukakan permohonan itu, berserta syor Suruhanjaya kepada Menteri.”; dan (c) dalam subseksyen (3), dengan memasukkan selepas perkataan “Menteri” perkataan “atau Suruhanjaya”.

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Find Act 453 on lom.agc.gov.my ↗

Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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