Capital Markets and Services Act 2007 s 325

s 325 Rules of a recognized self-regulatory organization

(1) No amendments to the rules of a recognized self-regulatory organization shall have effect unless it has been approved by the Commission under subsection (4). (2) Where a recognized self-regulatory organization proposes to make any amendment to its rules, the recognized self-regulatory organization shall submit to the Commission— (a) the text of the proposed amendment; and (b) an explanation of the purpose of the proposed amendment. (3) The Commission shall, within six weeks after the receipt of any proposed amendment under subsection (2), give notice in writing to the recognized self-regulatory organization that it approves or disapproves of the proposed amendment or any part of the proposed amendment, as the case may be. (4) The Commission may, by notice in writing, declare any class of rules of a recognized self-regulatory organization to be a class of rules whose amendments do not require the approval of the Commission under subsection (3), and accordingly, any amendment to the rules of the recognized self-regulatory organization that belongs to that class shall, subject to subsections (5) and (6), have effect notwithstanding that they have not been so approved under subsection (3). (5) Where the Commission is of the opinion that any amendment to the rules of a recognized self-regulatory organization made under subsection (4) does not fall within the class of rules declared by the Commission under that subsection as not requiring its approval, the Commission may, after consultation with the recognized self-regulatory organization, require the recognized self-regulatory organization to submit such amendment for its approval under subsection (3). (6) Notwithstanding the provisions of this section, the Commission may, from time to time, after consultation with the recognized selfregulatory organization, by written notice require the recognized self-regulatory organization to amend or supplement any of its rules in such manner and within such period as may be specified in the notice. (7) A recognized self-regulatory organization which contravenes subsection (2) or which contravenes a requirement made under subsection (5) or a written notice made under subsection (6) commits an offence.

Malay text (authoritative)

Kaedah-kaedah organisasi pengawalseliaan sendiri yang diiktiraf

(1) Tiada pindaan kepada kaedah-kaedah sesuatu organisasi pengawalseliaan sendiri yang diiktiraf boleh berkuat kuasa melainkan jika ia diluluskan oleh Suruhanjaya di bawah subseksyen (4). (2) Jika sesuatu organisasi pengawalseliaan sendiri yang diiktiraf bercadang untuk membuat apa-apa pindaan kepada kaedahkaedahnya, organisasi pengawalseliaan sendiri yang diiktiraf itu hendaklah mengemukakan kepada Suruhanjaya— (a) teks pindaan yang dicadangkan; dan (b) s u a t u p e n j e l a s a n m a k s u d b a g i p i n d a a n y a n g dicadangkan. (3) Suruhanjaya hendaklah, dalam masa enam minggu selepas penerimaan apa-apa pindaan yang dicadangkan di bawah subseksyen (2), memberikan notis secara bertulis kepada organisasi pengawalseliaan sendiri yang diiktiraf itu bahawa ia meluluskan atau tidak meluluskan pindaan yang dicadangkan atau mana-mana bahagian pindaan yang dicadangkan itu, mengikut mana-mana yang berkenaan. (4) Suruhanjaya boleh, melalui notis secara bertulis, mengisytiharkan apa-apa kelas kaedah-kaedah sesuatu organisasi pengawalseliaan sendiri yang diiktiraf sebagai suatu kelas kaedahkaedah yang pindaannya tidak menghendaki kelulusan Suruhanjaya di bawah subseksyen (3), dan dengan demikian itu, apa-apa pindaan kepada kaedah-kaedah sesuatu organisasi pengawalseliaan sendiri yang diiktiraf yang tergolong dalam kelas itu hendaklah, tertakluk kepada subseksyen (5) dan (6), berkuat kuasa walaupun ia tidak diluluskan sedemikian di bawah subseksyen (3). (5) Jika Suruhanjaya berpendapat bahawa apa-apa pindaan kepada kaedah-kaedah sesuatu organisasi pengawalseliaan sendiri yang diiktiraf yang dibuat di bawah subseksyen (4) tidak termasuk dalam kelas kaedah-kaedah yang diisytiharkan oleh Suruhanjaya di bawah subseksyen itu sebagai tidak menghendaki kelulusannya, Suruhanjaya boleh, selepas berunding dengan organisasi pengawalseliaan sendiri yang diiktiraf itu, menghendaki organisasi pengawalseliaan sendiri yang diiktiraf itu mengemukakan pindaan itu untuk kelulusannya di bawah subseksyen (3). (6) Walau apa pun peruntukan seksyen ini, Suruhanjaya boleh, dari semasa ke semasa, selepas berunding dengan organisasi pengawalseliaan sendiri yang diiktiraf, melalui notis bertulis menghendaki organisasi pengawalseliaan sendiri yang diiktiraf itu meminda atau menambah apa-apa kaedah-kaedahnya mengikut apaapa cara dan dalam apa-apa tempoh sebagaimana yang dinyatakan dalam notis itu. (7) Sesuatu organisasi pengawalseliaan sendiri yang diiktiraf yang melanggar subseksyen (2) atau melanggar suatu kehendak yang dibuat di bawah subseksyen (5) atau suatu notis bertulis yang dibuat di bawah subseksyen (6) melakukan suatu kesalahan.

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

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).

What to look at next

Capital Markets and Services Act 2007, full textChapter navigation and full text, so you can read this section in contextMalaysia legislation Malaysia Acts by type and yearGrouped by instrument type and year of enactment, so you can find others of the same kindBrowse by type and year Part VIII — Self-regulatory organizations — read this in contextThe surrounding text of the act in order, so you can see what comes before and afterChapters and sections