s 86H Effect of remedial directions issued under section 86G, etc.
86H.—(1) Any direction issued to a person, and any condition imposed, under section 86G(2) or (3) take effect, despite —(a) any other written law;[Act 20 of 2024 wef 01/04/2025] (b) anything in any listing rules as defined in section 2(1) of the Securities and Futures Act 2001; and (c) the provisions of the memorandum or articles of association, limited liability partnership agreement, partnership contract, trust deed or other constitution of the designated operating entity or designated equity interest holder in question.[40/2017] [Act 20 of 2024 wef 01/04/2025] (2) Without affecting subsection (1), where any direction is issued under section 86G(2) or (3), then, until the direction is carried out or is suspended or revoked —(a) the voting rights in respect of the specified equity interest or specified acquired equity interest that is subject to the direction, are not exercisable unless the Authority expressly permits those rights to be exercised; (b) the voting power that the person to whom the direction is issued controls, whether alone or together with that person’s associates, in the designated operating entity or designated equity interest holder (as the case may be) is not exercisable unless the Authority expressly permits that power to be exercised;[Act 20 of 2024 wef 01/04/2025] (c) no equity interest in the designated operating entity or designated equity interest holder is to be issued or offered (whether by way of dividends or otherwise) in respect of the specified equity interest or specified acquired equity interest that is subject to the direction, unless the Authority expressly permits that issue or offer; and[Act 20 of 2024 wef 01/04/2025] (d) no amount may be paid (whether by way of profits, income or otherwise) in respect of the specified equity interest or specified acquired equity interest that is subject to the direction, unless the Authority expressly authorises such payment.[40/2017] (3) Subsection (2)(d) does not apply in the event of the winding up, dissolution, termination or deregistration of the designated operating entity or designated equity interest holder, as the case may be.[40/2017] [Act 20 of 2024 wef 01/04/2025]