Malaysia legislation
Section 2A
Section 2A
Non-application of Act and exemption therefrom
(2)
The Minister may—
(a)
in consideration of the special circumstances relating to the nature of the business of any company, or the objects of any society, and its financial standing; and
12 Laws of Malaysia ACT 400
(b)
if he is satisfied that it would not be contrary to the public interest to do so, by notification in the Gazette exempt such company or society from all or any of the provisions of this Act, and such exemption shall be granted for such duration as may be specified in the notification, and may be made subject to such limitations, restrictions or conditions as the Minister may specify in the notification.
(3)
The Minister may at any time revoke any exemption granted by him under subsection (2) if he is satisfied, after giving the company or society concerned an opportunity to be heard, that the company or the society, as the case may be, has failed to observe any limitation, restriction or condition subject to which the exemption was granted, or that it is otherwise no longer suitable to continue to be granted exemption.