Section 29A — Requirements relating to key appointment holders

(1)The Minister may, by regulations made under section 52 —

(a)subject to subsection (2), prescribe requirements relating to persons appointed as a licensee’s key appointment holders; and

(b)require a licensee to obtain the Agency’s approval for the appointment of a key appointment holder in relation to whom any requirement mentioned in paragraph (a) is imposed.

(2)The requirements mentioned in subsection (1)(a) must not be imposed in relation to more than one-third of the number of persons (rounded up to the next whole number) appointed as the licensee’s key appointment holders.[Act 14 of 2023 wef 12/07/2024]