Section 20A

any change in the equity structure; or

Commercial Vehicles Licensing Board 31

any change in the members of the Board of Directors, of the company, partnership or firm, as the case may be, the holder of the licence shall obtain the approval of the Board before participating in the business or agreement.

The Board may, upon receipt of the application under subsection (1), approve or reject the application and, if the Board approves the application, it may impose any condition as it thinks fit.

The holder of a licence who fails to comply with this section shall be guilty of an offence and shall on conviction be liable to a fine of not less than one thousand ringgit but not more than ten thousand ringgit or to imprisonment for a term not exceeding one year or to both.

Application for renewal of licence