Capital Markets and Services Act 2007 s 239

s 239 Consequences of registering a supplementary or replacement prospectus

(1) This section applies— (a) where a person (“the applicant”) applies for the issue of, subscription or purchase of, any securities pursuant to a prospectus and— (i) in the case of a unit trust scheme or prescribed investment scheme, before the issue of units or transfer of units from the management company or the trustee to the applicant; or (ii) in any other case, before the issue of securities; and (b) the issuer delivers to the Commission for registration a supplementary or replacement prospectus, as the case may be, that relates to the prospectus. (2) As soon as practicable after the registration of the supplementary or replacement prospectus, as the case may be, by the Commission, the issuer shall— (a) give to the applicant a written notice or such other notice as may be specified by the Commission— (i) advising the applicant that a supplementary or replacement prospectus, as the case may be, has been registered by the Commission; (ii) giving the applicant not less than fourteen days from the date of receipt of the notice an opportunity to withdraw his application; and (b) ensure that the written notice referred to in paragraph (2)(a) is accompanied by a copy of a supplementary or replacement prospectus, as the case may be. (3) If the applicant withdraws his application pursuant to subparagraph (2)(a)(ii), the issuer shall immediately pay to the applicant any monies that the applicant has paid to the issuer on account of the application. (4) Notwithstanding the provisions of this section, the Commission may, on the written application of any issuer or of its own accord, make an order relieving such person from, or approving any variation of, the requirements of this section. (5) In making an order under this section, the Commission may impose such terms and conditions as it thinks fit. (6) The Commission shall not make an order under subsection (4) unless it is satisfied that— (a) compliance with the requirements of this Act is unnecessary for the protection of persons who may normally be expected to deal in those securities, being persons who would reasonably be expected to understand the risks involved; or (b) compliance with the requirements of this Act would impose an unreasonable burden on the issuer. (7) A person who contravenes subsection (2) or (3) commits an offence and shall, on conviction, be liable to a fine not exceeding three million ringgit or to imprisonment for a term not exceeding ten years or to both. (8) A person who contravenes any term or condition as may be imposed by the Commission under subsection (5) commits an offence.

Malay text (authoritative)

Kesan pendaftaran prospektus tambahan atau gantian

(1) Seksyen ini terpakai— (a) jika seseorang (“pemohon”) memohon bagi penerbitan, langganan atau pembelian, mana-mana sekuriti menurut suatu prospektus dan— (i) dalam hal suatu skim unit amanah atau skim pelaburan ditetapkan, sebelum terbitan unit atau pemindahan unit daripada syarikat pengurusan atau pemegang amanah kepada pemohon itu; atau (ii) dalam apa-apa hal lain, sebelum sekuriti itu diterbitkan; dan (b) penerbit menghantar serah kepada Suruhanjaya untuk pendaftaran suatu prospektus tambahan atau gantian, mengikut mana-mana yang berkenaan, yang berhubung dengan prospektus itu. (2) Secepat yang dapat dilaksanakan selepas pendaftaran prospektus tambahan atau gantian, mengikut mana-mana yang berkenaan, oleh Suruhanjaya, penerbit hendaklah— (a) memberikan kepada pemohon suatu notis bertulis atau apa-apa notis lain sebagaimana yang ditentukan oleh Suruhanjaya— (i) menasihati pemohon bahawa suatu prospektus tambahan atau gantian telah didaftarkan oleh Suruhanjaya; (ii) memberikan suatu peluang kepada pemohon untuk menarik balik permohonannya tidak kurang daripada empat belas hari dari tarikh penerimaan notis itu; dan (b) memastikan bahawa notis bertulis yang disebut dalam perenggan (2)(a) disertakan dengan suatu salinan prospektus tambahan atau gantian, mengikut mana-mana yang berkenaan. (3) Jika pemohon menarik balik permohonannya menurut subperenggan (2)(a)(ii), penerbit hendaklah membayar dengan serta-merta kepada pemohon apa-apa wang yang dibayar oleh pemohon kepada penerbit untuk permohonan itu. (4) Walau apa pun peruntukan seksyen ini, Suruhanjaya boleh, atas permohonan bertulis mana-mana penerbit atau atas kehendaknya sendiri, membuat suatu perintah yang melepaskan mana-mana orang daripada, atau meluluskan apa-apa perubahan, kepada kehendak seksyen ini. (5) Dalam membuat suatu perintah di bawah seksyen ini, Suruhanjaya boleh mengenakan apa-apa terma dan syarat yang difikirkannya patut. (6) Suruhanjaya tidak boleh membuat suatu perintah di bawah subseksyen (4) melainkan jika Suruhanjaya berpuas hati bahawa— (a) pematuhan kehendak Akta ini tidak perlu bagi melindungi orang yang lazimnya dijangkakan berniaga dalam sekuriti itu, iaitu seseorang yang semunasabahnya dijangkakan memahami risiko yang terlibat; atau (b) pematuhan kehendak Akta ini akan mengenakan beban yang tidak munasabah ke atas penerbit. (7) Seseorang yang melanggar subseksyen (2) atau (3) melakukan suatu kesalahan dan boleh, apabila disabitkan, didenda tidak melebihi tiga juta ringgit atau dipenjarakan selama tempoh tidak melebihi sepuluh tahun atau kedua-duanya. (8) Seseorang yang melanggar mana-mana terma atau syarat yang dikenakan oleh Suruhanjaya di bawah subseksyen (5) melakukan suatu kesalahan.

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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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