Capital Markets and Services Act 2007 s 73

s 73 Effect of revocation, suspension or expiry of licence, etc.

(1) A revocation, suspension or expiry of a licence or the imposition of a restriction on a licence shall not operate so as to— (a) avoid or affect any agreement, transaction or arrangement relating to the regulated activities entered into by such person, whether the agreement, transaction or arrangement was entered into before or after the revocation, suspension or expiry of the licence or the imposition of restriction on the licence, as the case may be; or (b) affect any right, obligation or liability arising under any such agreement, transaction or arrangement. (2) Where any licence is revoked or suspended or has expired under this Division, the Commission may by notice in writing permit the holder of a Capital Markets Services Licence to— (a) in the case of a revocation, carry on business operations for the purpose of closing down the business connected with the revocation; (b) in the case of a suspension, carry on only essential business operations for the protection of interests of clients of the licensed person during the period of suspension; or (c) in the case of an expiry, carry on such business activity as the Commission may approve for the protection of the interest of clients of the person who held the Capital Markets Services Licence before such expiry, subject to such conditions as the Commission may specify in the notice.

Malay text (authoritative)

Kesan pembatalan, penggantungan atau habis tempoh lesen, dsb.

(1) Pembatalan, penggantungan atau habis tempoh suatu lesen atau pengenaan sekatan ke atas suatu lesen tidak boleh beroperasi bagi— (a) menggelakkan atau menyentuh apa-apa perjanjian, transaksi atau perkiraan yang berhubungan dengan aktiviti terkawal yang dibuat oleh orang itu, sama ada perjanjian, transaksi atau perkiraan itu dibuat sebelum atau selepas pembatalan, penggantungan atau habis tempoh lesen itu atau pengenaan sekatan ke atas lesen itu, mengikut mana-mana yang berkenaan; atau (b) menyentuh apa-apa hak, obligasi atau tanggungan yang berbangkit di bawah mana-mana perjanjian, transaksi atau perkiraan itu. (2) Jika mana-mana lesen dibatalkan atau digantung atau telah habis tempoh di bawah Penggal ini, Suruhanjaya boleh melalui notis secara bertulis membenarkan pemegang Lesen Perkhidmatan Pasaran Modal— (a) dalam hal pembatalan, menjalankan pengendalian urusan bagi maksud menutup urusan yang berkaitan dengan pembatalan itu; (b) dalam hal penggantungan, menjalankan hanya pengendalian urusan utama bagi melindungi kepentingan klien orang berlesen itu semasa tempoh penggantungan itu; atau (c) dalam hal habis tempoh, menjalankan apa-apa aktiviti urusan sebagaimana yang dibenarkan oleh Suruhanjaya bagi melindungi kepentingan klien orang yang memegang Lesen Perkhidmatan Pasaran Modal sebelum habis tempoh lesen itu, tertakluk kepada apa-apa syarat sebagaimana yang ditentukan oleh Suruhanjaya dalam notis itu.

Read this section in the full act → · Open Division 1 →

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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