Securities Commission Act 1993 s 74

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s 74 Duty of borrower to inform trustee about charge, etc.

(1) Where a borrower creates a charge, it shall— (a) give the trustee written details of the charge within twentyone days after it is created; and (b) if the total amount to be advanced on the security of the charge is indeterminate and the advances are not merged in a current account with bankers, trade creditors or any other person, give the trustee written details of the amount of each advance within seven days after it is made. (2) A borrower who contravenes subsection (1) shall be guilty of an offence.

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Find Act 498 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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