Capital Markets and Services Act 2007 s 9

s 9 Commission to approve amendment to rules of stock exchange, futures exchange or approved clearing house

(1) A stock exchange, futures exchange or approved clearing house shall as soon as practicable, submit or cause to be submitted to the Commission for its approval any proposed rules or any proposed amendments to existing rules. (2) No amendment to the rules of a stock exchange, futures exchange or approved clearing house shall have effect unless it has been approved by the Commission under subsection (5). (3) Where a stock exchange, futures exchange or approved clearing house proposes to make any amendment to its rules, the stock exchange, futures exchange or approved clearing house shall submit to the Commission— (a) the text of the proposed amendment; and (b) an explanation of the purpose of the proposed amendment. (4) Where— (a) proposed rules or amendments to existing rules involve the introduction of a class of futures contracts, the instrument in respect of which is a commodity, to be offered for trading on a futures market of the futures exchange; and (b) the Minister responsible in respect of the commodity is the Minister for the time being charged with the responsibility for plantation industries and commodities, the Commission shall consult that Minister before notifying the futures exchange of its decision under subsection (5). (5) The Commission shall, within six weeks after the receipt of any proposed amendment under subsection (1), give notice in writing to the stock exchange, futures exchange or approved clearing house that it approves or disapproves of the proposed amendment or any part of the proposed amendment, as the case may be. (6) The Commission may, by notice in writing, declare any class of rules of a stock exchange, futures exchange or approved clearing house to be a class of rules whose amendments do not require the approval of the Commission under subsection (5), and accordingly, any amendment to the rules of a stock exchange, futures exchange or approved clearing house that belongs to that class shall, subject to subsections (7) and (8), have effect notwithstanding that they have not been so approved under subsection (5). (7) Where the Commission is of the opinion that any amendment to the rules of a stock exchange, futures exchange or approved clearing house made under subsection (6) 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 stock exchange, futures exchange or approved clearing house, require the stock exchange, futures exchange or approved clearing house to submit such amendment for its approval under subsection (5). (8) (a) Where a rule amended by the stock exchange, futures exchange or approved clearing house under subsection (6) is the subject of a requirement made by the Commission under subsection (7), such amendment shall cease to have effect from the date of the Commission making such a requirement or such later date as the Commission may determine. (b) This subsection shall not have effect until a reasonable time has been given to the stock exchange, futures exchange or approved clearing house to notify the persons affected by such amendment. (9) Notwithstanding the provisions of this section, the Commission may, from time to time, after consultation with the stock exchange, futures exchange or approved clearing house, by written notice require the stock exchange, futures exchange or approved clearing house to amend or supplement its constitution or any of its rules in such manner and within such period as may be specified in the notice. (10) A stock exchange, futures exchange or approved clearing house which contravenes subsection (3) or which contravenes a requirement made under subsection (7) or a written notice made under subsection (9) commits an offence.

Malay text (authoritative)

Suruhanjaya hendaklah meluluskan pindaan kepada kaedah- kaedah bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan

(1) Suatu bursa saham, bursa niaga hadapan atau pusat penjelasan yang diluluskan hendaklah secepat yang dapat dilaksanakan, menyerahkan atau menyebabkan untuk diserahkan kepada Suruhanjaya untuk kelulusannya apa-apa kaedah-kaedah yang dicadangkan atau apa-apa pindaan yang dicadangkan kepada kaedah-kaedah sedia ada. (2) Tiada pindaan kepada kaedah-kaedah suatu bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan boleh berkuat kuasa melainkan jika ia diluluskan oleh Suruhanjaya di bawah subseksyen (5). (3) Jika suatu bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan bercadang membuat apa-apa pindaan kepada kaedah-kaedahnya, bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan itu hendaklah menyerahkan kepada Suruhanjaya— (a) teks pindaan yang dicadangkan; dan (b) suatu penjelasan tentang maksud pindaan yang dicadangkan. (4) Jika— (a) kaedah-kaedah yang dicadangkan atau pindaan kepada kaedah-kaedah sedia ada melibatkan pengenalan suatu kelas kontrak niaga hadapan, instrumen berkenaan dengan suatu komoditi, untuk ditawarkan bagi dagangan di suatu pasaran niaga hadapan bursa niaga hadapan; dan (b) Menteri yang bertanggungjawab berkenaan dengan komoditi ialah Menteri yang pada masa ini dipertanggungkan dengan tanggungjawab bagi perusahaan perladangan dan komoditi, Suruhanjaya hendaklah merujuk kepada Menteri itu sebelum memberitahu bursa niaga hadapan itu keputusannya di bawah subseksyen (5). (5) Suruhanjaya hendaklah, dalam masa enam minggu selepas menerima mana-mana pindaan yang dicadangkan di bawah subseksyen (1), memberikan notis secara bertulis kepada bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan itu bahawa ia meluluskan atau tidak meluluskan pindaan yang dicadangkan atau mana-mana bahagian pindaan yang dicadangkan itu, mengikut mana-mana yang berkenaan. (6) Suruhanjaya boleh, melalui notis secara bertulis, mengisytiharkan apa-apa kelas kaedah-kaedah suatu bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan sebagai suatu kelas kaedah-kaedah yang pindaannya tidak menghendaki kelulusan Suruhanjaya di bawah subseksyen (5), dan dengan demikian itu, apa-apa pindaan kepada kaedah-kaedah suatu bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan yang tergolong dalam kelas itu hendaklah, tertakluk kepada subseksyen (7) dan (8), berkuat kuasa walaupun ia tidak diluluskan sedemikian di bawah subseksyen (5). (7) Jika Suruhanjaya berpendapat bahawa mana-mana pindaan kepada kaedah-kaedah suatu bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan yang dibuat di bawah subseksyen (6) tidak termasuk dalam kelas kaedah-kaedah yang diisytiharkan oleh Suruhanjaya di bawah subseksyen itu sebagai tidak menghendaki kelulusannya, Suruhanjaya boleh, setelah berunding dengan bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan itu, menghendaki bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan itu menyerahkan pindaan itu untuk kelulusannya di bawah subseksyen (5). (8) (a) Jika suatu kaedah yang dipinda oleh bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan di bawah subseksyen (6) merupakan subjek suatu kehendak yang dibuat oleh Suruhanjaya di bawah subseksyen (7), pindaan itu hendaklah terhenti berkuat kuasa dari tarikh Suruhanjaya membuat kehendak itu atau apa-apa tarikh kemudian yang ditentukan oleh Suruhanjaya. (b) Subseksyen ini tidak boleh berkuat kuasa sehingga suatu tempoh yang munasabah telah diberikan kepada bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan itu untuk memberitahu orang yang tersentuh oleh pindaan itu. (9) Walau apa pun peruntukan seksyen ini, Suruhanjaya boleh, dari semasa ke semasa, setelah berunding dengan bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan, melalui notis bertulis menghendaki bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan itu meminda atau menambah perlembagaannya atau mana-mana kaedah-kaedahnya mengikut apa-apa cara dan dalam apa-apa tempoh sebagaimana yang boleh dinyatakan dalam notis itu. (10) Suatu bursa saham, bursa niaga hadapan atau pusat penjelasan diluluskan yang melanggar subseksyen (3) atau yang melanggar suatu kehendak yang dibuat di bawah subseksyen (7) atau suatu notis bertulis yang dibuat di bawah subseksyen (9) melakukan suatu kesalahan.

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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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