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← Securities Commission Act 1993

Securities Commission Act 1993 s 91

Securities Commission Act 1993 s 91

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

s 91 Specific Court powers

(1) Where a borrower, trustee or the Commission applies to the Court for an order under the provisions of this Act or pursuant to any term, provision or covenant of a debenture or a trust deed, the Court may make any or all of the following orders: (a) an order staying an action or other civil proceedings before a Court by or against a borrower or a guarantor; (b) an order restraining a borrower from paying any moneys to the debenture holders or holders of any other class of debentures; (c) an order that any security for the debentures be enforceable immediately or at the time the Court directs, whether or not the debentures are irredeemable or redeemable only on the happening of a contingency; (d) an order appointing a receiver of any property constituting security for the debentures; (e) an order restricting advertising by a borrower for deposits or loans; (f) an order restricting borrowing by a borrower; (g) an order varying or rescinding any order made by the Court under this Act; or (h) any other order that the Court considers appropriate to protect the interests of existing or prospective debenture holders. (2) In deciding whether to make an order under subsection (1), the Court shall have regard to the rights of all creditors of the borrower. Subdivision 2—General

Read this section in the full act → · Open Part IV →

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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