Capital Markets and Services Act 2007 s 381

s 381 Repeal of Securities Industry Act 1983 and Futures Industry Act 1993 and savings and transitional in respect thereof

(1) For the purpose of this Part— “effective date” means the relevant date or dates, as the case may be, notified by the Minister under section 1; “repealed Acts” means the Securities Industry Act 1983 and the Futures Industry Act 1993 so repealed under this Part. (2) The Securities Industry Act 1983 and the Futures Industry Act 1993 are repealed with effect from the effective date. (3) Notwithstanding subsection (2)— (a) (i) all regulations, orders, directions, notifications, exemptions and other subsidiary legislation, howsoever called; and (ii) all approvals, directions, decisions, notifications, exemptions and other executive acts, howsoever called, made, given or done under or in accordance with, or by virtue of, the repealed Acts shall be deemed to have been made, given, or done under, or in accordance with, or by virtue of, the corresponding provisions of this Act, and shall continue to remain in full force and effect in relation to the persons to whom they applied until amended, repealed, rescinded, revoked or replaced under, in accordance with or by virtue of, the corresponding provisions of this Act; (b) every direction, notice, guideline, circular, guidance note or practice note issued by the Commission or the Minister under the repealed Acts before the effective date and in force immediately before the effective date, shall be deemed to have been lawfully issued under this Act in relation to the particular provision of this Act corresponding to the matter dealt with in the direction, notice, guideline, circular, guidance note or practice note and shall remain in full force and effect until it is amended, rescinded or repealed under this Act; (c) any application for an approval or consent, or for any other purpose whatsoever, or any appeal relating to such application, made by any person to the Minister or to the Commission under either of the repealed Acts before the effective date or dates, and pending immediately before the effective date or dates, shall, if there is a corresponding provision in this Act, be dealt with as if it was made under that provision and, if there is no such corresponding provision in this Act, such application or appeal shall lapse on the effective date or dates; and (d) all transactions or dealings lawfully executed or entered into, and all business lawfully done, under or in accordance with any of the repealed Acts by a person who was licensed under the respective repealed Acts and who is licensed or deemed to be licensed in respect of a corresponding business under this Act, with any customer or other person, shall be deemed to have been lawfully and validly executed, entered into, or done, under and in accordance with this Act, and accordingly, any right or liability under such transaction, dealing or business existing, immediately before the effective date, shall be deemed to continue to be lawful and valid under this Act.

Malay text (authoritative)

Pemansuhan Akta Perindustrian Sekuriti 1983 dan Akta Perindustrian Niaga Hadapan 1993 dan kecualian dan peralihan berkenaan dengannya

(1) Bagi maksud Bahagian ini— “Akta termansuh” ertinya Akta Perindustrian Sekuriti 1983 dan Akta Perindustrian Niaga Hadapan 1993 yang dimansuhkan sedemikian di bawah Bahagian ini; “tarikh kuat kuasa” ertinya tarikh atau tarikh-tarikh yang berkaitan, mengikut mana-mana yang berkenaan, yang diberitahu oleh Menteri di bawah seksyen 1. (2) Akta Perindustrian Sekuriti 1983 dan Akta Perindustrian Niaga Hadapan 1993 dimansuhkan berkuat kuasa dari tarikh kuat kuasa. (3) Walau apa pun subseksyen (2)— (a) (i) semua peraturan, perintah, arahan, pemberitahuan, pengecualian dan perundangan subsidiari lain, walau bagaimana jua disebut; dan (ii) semua kelulusan, arahan, keputusan, pemberitahuan, pengecualian dan tindakan eksekutif lain, walau bagaimana jua disebut, yang dibuat, diberikan, atau dilakukan di bawah atau mengikut, atau menurut kuasa, Akta termansuh hendaklah disifatkan telah dibuat, diberikan atau dilakukan di bawah, atau mengikut, atau menurut kuasa, peruntukan yang bersamaan Akta ini, dan hendaklah terus berkuat kuasa dan berkesan sepenuhnya berhubung dengan orang yang baginya ia terpakai sehingga dipinda, dimansuhkan, ditamatkan, dibatalkan atau diganti di bawah, mengikut atau menurut kuasa, peruntukan yang bersamaan Akta ini; (b) tiap-tiap arahan, notis, garis panduan, surat pekeliling, nota panduan atau nota amalan yang dikeluarkan oleh Suruhanjaya atau Menteri di bawah Akta termansuh sebelum tarikh kuat kuasa dan berkuat kuasa sebaik sebelum tarikh kuat kuasa, hendaklah disifatkan telah dikeluarkan secara sah di bawah Akta ini berhubung dengan peruntukan tertentu Akta ini yang bersamaan dengan perkara yang diuruskan mengikut arahan, notis, garis panduan, surat pekeliling, nota panduan atau nota amalan itu dan hendaklah terus berkuat kuasa dan berkesan sepenuhnya sehingga ia dipinda, ditamatkan atau dimansuhkan di bawah Akta ini; (c) apa-apa permohonan bagi suatu kelulusan atau persetujuan, atau bagi apa-apa jua maksud lain, atau apa-apa rayuan berhubung dengan permohonan itu, yang dibuat oleh mana-mana orang kepada Menteri atau Suruhanjaya di bawah sama ada Akta termansuh sebelum tarikh atau tarikh-tarikh kuat kuasa, dan yang belum selesai sebaik sebelum tarikh atau tarikh-tarikh kuat kuasa, hendaklah, jika ada peruntukan yang bersamaan dalam Akta ini, diuruskan seolah-olah permohonan itu dibuat di bawah peruntukan itu dan, jika tiada peruntukan yang bersamaan dalam bawah Akta ini, permohonan atau rayuan itu hendaklah luput pada tarikh atau tarikh-tarikh kuat kuasa; dan (d) semua transaksi atau perniagaan yang disempurnakan atau dibuat dengan sah, dan semua urusan yang dilakukan dengan sah, di bawah atau mengikut mana-mana Akta termansuh oleh seseorang yang dilesenkan di bawah Akta termansuh masing-masing dan dilesenkan atau disifatkan sebagai dilesenkan berkenaan dengan suatu urusan yang bersamaan di bawah Akta ini, dengan mana-mana pelanggan atau orang lain, hendaklah disifatkan telah disempurnakan, dibuat, atau dilakukan dengan sah di bawah dan mengikut Akta ini, dan dengan demikian itu mana-mana hak atau tanggungan di bawah apa-apa transaksi perniagaan atau urusan itu yang wujud, sebaik sebelum tarikh kuat kuasa, hendaklah disifatkan terus menjadi sah di bawah Akta ini.

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

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 XIII — Repeal, savings and transitional provisions — read this in contextThe surrounding text of the act in order, so you can see what comes before and afterChapters and sections