(1) Where the Commission—
(a) refuses to grant or renew a licence under subsection 64(1) or 65(1);
(b) refuses to vary a licence under paragraph 69(4)(b); or
(c) revokes or suspends a licence under section 72,
the person who is aggrieved by the decision of the Commission may within fourteen days after the person has been notified of the decision of the Commission, appeal to the Minister whose decision shall be final.
(2) Subsection (1) shall not apply to the holder of a Capital Markets Services Licence who carries on the business of dealing in securities or trading in futures contracts.
(3) Where an appeal is to be made to the Minister under subsection (1), the decision of the Commission under section 64, 65, 69 or 72, as the case may be, shall not take effect until the appeal is disposed of by the Minister.
(4) On an appeal against the decision of the Commission under subsection (1), the Minister may—
(a) affirm the decision of the Commission;
(b) set aside the decision of the Commission; or
(c) set aside the decision of the Commission and make a decision in substitution for that decision.
Malay text (authoritative)
Rayuan
(1) Jika Suruhanjaya—
(a) enggan memberikan atau membaharui suatu lesen di bawah subseksyen 64(1) atau 65(1);
(b) enggan mengubah suatu lesen di bawah perenggan 69(4)(b); atau
(c) membatalkan atau menggantung suatu lesen di bawah seksyen 72,
orang yang terkilan dengan keputusan Suruhanjaya boleh dalam masa empat belas hari selepas orang itu diberitahu mengenai keputusan Suruhanjaya, merayu kepada Menteri yang keputusannya adalah muktamad.
(2) Subseksyen (1) tidak terpakai bagi pemegang Lesen Perkhidmatan Pasaran Modal yang menjalankan urusan berniaga dalam sekuriti atau berdagang dalam kontrak niaga hadapan.
(3) J i k a r a y u a n d i b u a t k e p a d a M e n t e r i d i b a w a h subseksyen (1), keputusan Suruhanjaya di bawah seksyen 64, 65, 69 atau 72, mengikut mana-mana yang berkenaan, tidak boleh berkuat kuasa sehingga rayuan itu diselesaikan oleh Menteri.
(4) Dalam rayuan terhadap keputusan Suruhanjaya di bawah subseksyen (1), Menteri boleh—
(a) mengesahkan keputusan Suruhanjaya;
(b) mengetepikan keputusan Suruhanjaya; atau
(c) mengetepikan keputusan Suruhanjaya dan membuat suatu keputusan untuk menggantikan keputusan itu.
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).
