Malaysia legislation
Section 38
Section 38
Subject to subsection (2), the Commissioner shall refuse to register an applicant as a dealer under section 37 unless—
(a)
he is a member of the exchange company; and
(ii)
he has paid to the Commissioner a deposit of not less than one hundred thousand ringgit in cash or in such other form as the Commissioner may, in the particular case, allow, if he intends to trade on any Specified Commodity Exchange;
(b)
in the case of an applicant who is a director of a corporation, or a partner of a firm, or an employee of a corporation or firm who is accredited to the corporation or firm, as the case may be, as a dealer—
(i)
the corporation or firm is a member of the exchange company; and
(ii)
the corporation or firm has paid to the Commissioner a deposit of not less than one hundred thousand ringgit in cash or in such other form as the Commissioner may, in the particular case, allow on the registration of the corporation or firm as a dealer if he intends to trade on any Specified Commodity Exchange;
(c)
in the case of an applicant that is a corporation or firm—
(i)
the corporation or firm is a member of the exchange company; and
(ii)
the corporation or firm has paid to the Commissioner a deposit of not less than one hundred thousand ringgit in cash or in such other form as the Commissioner may, in the particular case, allow on the registration of the corporation or firm as a dealer, if it intends to trade on any Specified Commodity Exchange.