Malaysia legislation
Section 12
Section 12
(2)
The surrender of a licence shall take effect on the date the Controller receives the licence and the notice under subsection (1) or, where a later date is specified in the notice, on that later date.
(3)
Notwithstanding subsections (1) and (2), where a licence is revoked, the licensee shall surrender its licence by personal service to the Controller within fourteen days from the date on which the written notice is served on the licensee under subsection 11(3).
(4)
Any person who contravenes subsection (3) shall be guilty of an offence and shall, on conviction, be liable—
(a)
if such person is a body corporate, partnership or society, to a fine not exceeding two hundred thousand ringgit;
(b)
if such person is not a body corporate, partnership or society, to a fine not exceeding one hundred thousand ringgit or to imprisonment for a term not exceeding six months or to both.
(5)
Where a person, being a director, manager, secretary or other similar officer of a body corporate, a partner in a partnership or an office-bearer in a society, as the case may be, is guilty of an offence under this section by virtue of section 38, he shall be liable to the penalty provided for under paragraph (4)(b).
Prohibition on the carrying on of direct sales business upon revocation, expiry of duration, or surrender of licence