s 4 Application for approval to establish and maintain a central depository
(1) Any company incorporated under the Companies Act 1965 which proposes to establish and maintain a central depository shall apply to the Minister in writing for approval. (2) An application made under subsection (1) shall be accompanied with the following: (a) a copy of the memorandum and articles of association, duly verified by a statutory declaration made by a director of the applicant; (b) a copy of the latest audited balance sheet, profit and loss account (together with any note thereon) and the reports, if any, of the auditors and the directors of the applicant; (c) a statement on the following: (i) the name, place and date of incorporation of the applicant; (ii) the registered office and place or proposed place of business of the applicant; (iii) the names and addresses of the directors of the applicant and its related corporations, and of the substantial shareholders within the meaning of section 69 D of the Companies Act 1965, of the applicant and its related corporations; and (iv) the name of the stock exchange, if any, in respect of which the central depository will be established and maintained; (d) operational information on the system to be established and maintained by the central depository; (e) a copy of the rules that will apply to the central depository; (f) the proposed fees and charges which will be imposed by the applicant in respect of the facilities and services to be provided by the central depository, including fees and charges for— (i) the establishment and maintenance of securities accounts; (ii) the deposit and withdrawal of securities; (iii) the issuance of statements of accounts under section 26; (iv) the effecting of entries in securities accounts in respect of transactions under section 31; (v) the issuance of records of depositors under section 34; (vi) the effecting of entries in securities accounts pursuant to any charges or pledges of deposited securities under section 40; and (g) such other information or documents as may be required by the Minister or the Commission for the purposes of determining the application and the suitability of the applicant to establish and maintain a central depository. (2A) An application for approval under subsection (1) shall be sent to the Commission, whereupon the Commission shall submit such application, together with its recommendation to the Minister. (3) At any time after receiving an application the Minister or the Commission may, by written notice, require the applicant to provide additional information or documents.