Capital Markets and Services Act 2007 s 15

s 15 Power of Minister to approve exchange holding company

(1) An application for approval of a body corporate as an exchange holding company may be made in writing to the Minister. (2) The Minister may in writing, on the recommendation of the Commission, approve a body corporate as an exchange holding company, subject to any terms and conditions as he thinks fit, if he is satisfied that it is appropriate to do so— (a) for the protection of investors; (b) in the public interest; or (c) for the proper regulation of a stock market of a stock exchange or a futures market of a futures exchange. (3) An application for approval under subsection (1) shall be sent to the Commission, whereupon the Commission shall submit to the Minister such application together with its recommendation. (4) An applicant under subsection (1) shall provide such information as the Minister or the Commission considers necessary in relation to the application. (5) The Minister may, on the recommendation of the Commission, impose different conditions or restrictions or give different directions with respect to different applications for approval as an exchange holding company. (6) For the avoidance of doubt— (a) to the extent that an exchange holding company would be holding itself out as, or is providing, operating or maintaining, a stock market of a stock exchange, the exchange holding company shall obtain an approval in accordance with the provisions of section 8; (b) to the extent that an exchange holding company would be holding itself out as, or is establishing or maintaining, a central depository, the exchange holding company shall obtain an approval in accordance with the provisions of sections 4 and 5 of the Securities Industry (Central Depositories) Act 1991; (c) to the extent that an exchange holding company is holding itself out as, or is providing clearing and settlement services of— (i) a clearing house of a stock exchange; or (ii) a clearing house of a futures exchange, the exchange holding company shall obtain approval in accordance with the provisions of section 38; and (d) to the extent that an exchange holding company is holding itself out as, or is providing, operating or maintaining, a futures market of a futures exchange, the exchange holding company shall obtain an approval in accordance with the provisions of section 8. (7) Notwithstanding the provisions of this Act and the Securities Industry (Central Depositories) Act 1991, the Minister may, in his discretion, exempt the applicant from any of the requirements of section 8 or 38 of this Act or sections 4 and 5 of the Securities Industry (Central Depositories) Act 1991, as he thinks fit, for the purposes of giving his approval. (8) Notwithstanding the provisions of section 38, the Commission may, with the approval of the Minister, exempt the applicant from any of the requirements of section 38, as it thinks fit, for the purpose of granting approval to an exchange holding company as an approved clearing house.

Malay text (authoritative)

Kuasa Menteri untuk meluluskan syarikat pemegangan bursa

(1) Suatu permohonan bagi kelulusan sesuatu pertubuhan perbadanan sebagai suatu syarikat pemegangan bursa boleh dibuat secara bertulis kepada Menteri. (2) Menteri boleh secara bertulis, atas syor Suruhanjaya, meluluskan suatu pertubuhan perbadanan sebagai suatu syarikat pemegangan bursa, tertakluk kepada apa-apa terma dan syarat yang difikirkan patut oleh Menteri, jika dia berpuas hati bahawa adalah wajar untuk berbuat demikian— (a) bagi melindungi pelabur; (b) demi kepentingan awam; atau (c) bagi pengawalseliaan yang sewajarnya suatu pasaran saham sesuatu bursa saham atau suatu pasaran niaga hadapan sesuatu bursa niaga hadapan. (3) Suatu permohonan bagi kelulusan di bawah subseksyen (1) hendaklah dihantar kepada Suruhanjaya, dan Suruhanjaya hendaklah menyerahkan permohonan itu kepada Menteri berserta syor Suruhanjaya. (4) Seorang pemohon di bawah subseksyen (1) hendaklah menyediakan apa-apa maklumat yang Menteri atau Suruhanjaya berpendapat perlu berhubung dengan permohonan itu. (5) Menteri boleh, atas syor Suruhanjaya, mengenakan syarat atau sekatan yang berlainan atau memberikan arahan yang berlainan berkenaan dengan permohonan yang berlainan bagi kelulusan sebagai suatu syarikat pemegangan bursa. (6) Bagi mengelakkan keraguan— (a) setakat yang sesuatu syarikat pemegangan bursa mengemukakan dirinya sebagai, atau menyediakan, mengendalikan atau menyenggarakan, suatu pasaran saham sesuatu bursa saham, syarikat pemegangan bursa itu hendaklah mendapat kelulusan mengikut peruntukan seksyen 8; (b) setakat yang sesuatu syarikat pemegangan bursa mengemukakan dirinya sebagai, atau menubuhkan atau menyenggarakan, suatu depositori pusat, syarikat pemegangan bursa itu hendaklah mendapat kelulusan mengikut peruntukan seksyen 4 dan 5 Akta Perindustrian Sekuriti (Depositori Pusat) 1991; (c) setakat yang sesuatu syarikat pemegangan bursa mengemukakan dirinya sebagai, atau menyediakan perkhidmatan penjelasan dan penyelesaian— (i) suatu pusat penjelasan bursa saham; atau (ii) suatu pusat penjelasan bursa niaga hadapan, syarikat pemegangan bursa itu hendaklah mendapat kelulusan mengikut peruntukan seksyen 38; dan (d) setakat yang sesuatu syarikat pemegangan bursa mengemukakan dirinya sebagai, atau menyediakan, mengendalikan atau menyenggarakan, suatu pasaran niaga hadapan sesuatu bursa niaga hadapan, syarikat pemegangan bursa itu hendaklah mendapat kelulusan mengikut peruntukan seksyen 8. (7) Walau apa pun peruntukan Akta ini dan Akta Perindustrian Sekuriti (Depositori Pusat) 1991, Menteri boleh, mengikut budi bicaranya, mengecualikan pemohon daripada mana-mana kehendak seksyen 8 atau 38 Akta ini atau seksyen 4 dan 5 Akta Perindustrian Sekuriti (Depositori Pusat) 1991, sebagaimana yang difikirkannya patut, bagi maksud memberikan kelulusannya. (8) Walau apa pun peruntukan seksyen 38, Suruhanjaya boleh, dengan kelulusan Menteri, mengecualikan pemohon daripada manamana kehendak seksyen 38, sebagaimana yang difikirkannya patut, bagi maksud memberikan kelulusan kepada syarikat pemegangan bursa sebagai suatu pusat penjelasan diluluskan.

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Find Act 671 on lom.agc.gov.my ↗

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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