Malaysia legislation
Section 28
Section 28
(a)
the exchange company or the clearing house—
(i)
has failed to comply with or observe its own rules and regulations;
(ii)
has contravened any provision of this Act or any regulations, rules or orders made thereunder; or
(iii)
has failed to comply with any directive given by the Commission under this Act; or
(b)
the exchange company, clearing house, any member of their respective Boards or any officer or employee of the exchange company or clearing house has acted in any way relating to the operation of the commodity exchange, any commodity market or the clearing house which has prejudiced or is likely to be prejudicial to the public interest, the Commission may, after notice to and hearing of the parties concerned, take one or more of the following actions:
(i)
suspend trading in all or any commodity market of the exchange until such time as the exchange company has to the satisfaction of the Commission, complied with, or rectified the matter forming the basis of the suspension, or until the Commission cancels the suspension;
(ii)
make an order directing the exchange company, clearing house or individual concerned, to comply with or cease and desist from any such acts; and in the case of the exchange company or clearing house, impose a penalty not exceeding one hundred thousand ringgit, and in the case of a member of the Board or an officer or employee, impose a penalty not exceeding twenty thousand ringgit; or
(iii)
reprimand the exchange company, clearing house or the individual concerned.
(2)
A suspension, penalty or reprimand given under subsection (1) shall be conclusive unless within fourteen days thereafter, the exchange company, clearing house or individual concerned appeals to the Minister in writing against the suspension, penalty or reprimand, as the case may be.
(3)
An appeal under subsection (2) shall not act as a stay of the order of suspension made under subsection (1) (i) unless otherwise determined by the Commission.
(4)
The Minister may affirm, set aside any of the actions of the Commission made under subsection (1) or direct the Commission to modify its order.