Capital Markets and Services Act 2007 s 27
s 27 Closure of stock exchange or futures exchange
(1) The Minister may direct an exchange to close a stock market or a futures market of the exchange for a period not exceeding five business days if the Minister is of the opinion that an orderly and fair market for trading in securities on the stock market or trading in futures contracts on the futures market is being or is likely to be prevented because—
(a) an emergency or natural disaster has occurred within Malaysia; or
(b) there exists an economic or financial crisis or any other circumstances within or outside Malaysia.
(2) The Minister may extend the closure of the stock market or futures market under subsection (1) for any further periods each not exceeding five business days.
(3) The Minister shall specify the grounds for the closure in the direction given under subsection (1) and the grounds for any extension of closure under subsection (2).
(4) The Minister shall, as soon as may be practicable, give a copy of the direction under subsection (1) or extension under subsection (2) to an approved clearing house and direct the approved clearing house to do all that it is reasonably capable of doing to give effect to the direction under subsection (1) or extension under subsection (2) while the direction or extension remains in force.
(5) In this section—
“business day” means any day on which there is official trading on the exchange but for the closure;
“fair market” includes but is not limited to a market that reflects the forces of supply and demand.
Malay text (authoritative)
Penutupan bursa saham atau bursa niaga hadapan
(1) Menteri boleh mengarahkan suatu bursa supaya menutup sesuatu pasaran saham atau pasaran niaga hadapan bursa selama tempoh tidak melebihi lima hari berurus niaga jika Menteri berpendapat bahawa suatu pasaran yang teratur dan saksama bagi perdagangan dalam sekuriti di pasaran saham itu atau perdagangan dalam kontrak niaga hadapan di pasaran niaga hadapan itu sedang atau berkemungkinan akan terhalang kerana—
(a) darurat atau bencana alam telah berlaku di dalam Malaysia; atau
(b) wujud krisis ekonomi atau kewangan atau apa-apa hal keadaaan lain di dalam atau di luar Malaysia.
(2) Menteri boleh melanjutkan penutupan pasaran saham atau pasaran niaga hadapan di bawah subseksyen (1) selama apa-apa tempoh selanjutnya yang setiap satunya tidak melebihi lima hari berurus niaga.
(3) Menteri hendaklah menentukan alasan bagi penutupan itu dalam arahan yang diberikan di bawah subseksyen (1) dan alasan bagi apa-apa pelanjutan penutupan di bawah subseksyen (2).
(4) Menteri hendaklah, secepat yang dapat dilaksanakan, memberi pusat penjelasan diluluskan suatu salinan arahan di bawah subseksyen (1) atau pelanjutan di bawah subseksyen (2) dan mengarahkan pusat penjelasan diluluskan itu supaya melakukan segala yang semunasabahnya dapat dilakukan untuk memberi kesan kepada arahan di bawah subseksyen (1) atau pelanjutan di bawah subseksyen (2) semasa arahan atau pelanjutan itu terus berkuat kuasa.
(5) Dalam seksyen ini—
“hari berurus niaga” ertinya mana-mana hari yang terdapat perdagangan rasmi di bursa jika tidak kerana penutupan itu;
“pasaran saksama” termasuklah tetapi tidak terhad kepada sesuatu pasaran yang mencerminkan daya penawaran dan permintaan.
Read this section in the full act → · Open Division 2 →
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).
