(1) The licence shall not be assigned or transferred to any other person except with the prior written approval of the Minister.
(2) A licensee who assigns or transfers its licence to any other person without the prior written approval of the Minister commits an offence and shall, on conviction, be liable to a fine not exceeding five hundred thousand ringgit or to imprisonment for a term not exceeding five years or to both.
Malay text (authoritative)
Serah hak atau pindah hak milik lesen
(1) Lesen tidak boleh diserahhakkan atau dipindah hak milik kepada mana-mana orang lain kecuali dengan kelulusan bertulis terdahulu daripada Menteri.
(2) Pemegang lesen yang menyerahhak atau memindah hak milik lesennya kepada mana-mana orang lain tanpa kelulusan bertulis terdahulu Menteri melakukan suatu kesalahan dan boleh, apabila disabitkan, didenda tidak melebihi lima ratus ribu ringgit atau dipenjarakan selama tempoh tidak melebihi lima tahun atau keduaduanya.
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).