s 89 Disposal of interest in shares requiring approval
Except with the prior written approval of the Minister, on the recommendation of the Bank, no person who has an aggregate interest in shares of a licensed person of—
(a) more than fifty per cent; or
(b) fifty per cent or less but has control over the licensed person,
shall enter into an agreement or arrangement to dispose any interest in shares of a licensed person by which, if the agreement or arrangement is carried out, such disposal would result in the person holding an interest in shares of less than fifty per cent or in any way ceasing to have control over the licensed person.
Malay text (authoritative)
Pelupusan kepentingan dalam syer menghendaki kelulusan
Kecuali dengan kelulusan bertulis terdahulu Menteri, atas syor Bank, tiada seorang pun yang mempunyai suatu agregat kepentingan dalam syer orang berlesen yang—
(a) lebih daripada lima puluh peratus; atau
(b) lima puluh peratus atau kurang tetapi mempunyai kawalan atas orang berlesen itu,
boleh membuat perjanjian atau perkiraan untuk melupuskan manamana kepentingan dalam syer orang berlesen yang, sekiranya perjanjian atau perkiraan itu dijalankan, pelupusan sedemikian akan mengakibatkan orang itu memegang suatu kepentingan dalam syer kurang daripada lima puluh peratus atau dalam apa-apa jua cara terhenti untuk mempunyai kawalan atas orang berlesen 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).
