Malaysia legislation
Section 5
Section 5
(a)
a copy of the memorandum and articles of association or other constituent documents under which the applicant is established, duly verified by a statutory declaration made by a director of the applicant;
(b)
a copy of the latest audited balance sheet, profit and loss account and the reports, if any, of the auditors and the directors of the applicant, if applicable;
(c)
a statement on—
(i)
the name, place and date of the establishment of the applicant;
(ii)
the names, places and dates of the establishment of its related corporations;
(iii)
the principal business and field of operations of the applicant and of its related corporations;
(iv)
the names and addresses of the directors of the applicant and its related corporations, and of the substantial shareholders, within the meaning of section 69d of the Companies Act 1965, of the applicant and its related corporations; and
Direct Sales and Anti-Pyramid Scheme 13
(v)
the marketing and trading scheme or the proposed marketing and trading scheme of the applicant in respect of that business; and
(d)
such other information or documents as may be specified by the Controller for the purposes of determining the application and the suitability of the applicant for the licence.
(2)
For the purposes of subparagraph (1)(c)(iv), references to a company under section 69d of the Companies Act 1965 shall be so construed as to include a private company.
(3)
At any time after receiving an application and before it is determined, the Controller may, by written notice, require the applicant or any person who is or is to be a director or manager of the applicant to provide additional information or documents.
(4)
The matters specified under paragraph (1)(d) or the requirements under subsection (3) may differ as between different applicants, or different classes, categories or descriptions of applicants.
(5)
An application under this section may be withdrawn at any time before it is granted or refused.
(6)
Where any additional information or document required under subsection (3) is not provided by the applicant or its director or manager, as the case may be, within the time specified in the requirement or any extension thereof granted by the Controller, the application shall be deemed to have been withdrawn and shall not be further proceeded with, but without prejudice to a fresh application being made by the applicant.
(7)
Any person who provides false or misleading information or documents under this section shall be guilty of an offence.
Grant or refusal of licence