Malaysia legislation
Section 17
Section 17
(2)
The Minister shall, on the recommendation of the Commission, upon payment of the prescribed fee, renew an existing individual licence except in the following circumstances:
(a)
the individual licensee has failed to comply with any provisions of this Act or its subsidiary legislation;
(b)
the individual licensee has failed to comply with any of the conditions of the individual licence;
(c)
the individual licensee had improperly or illegally obtained the individual licence;
(d)
the individual licensee has been convicted of an offence under this Act or its subsidiary legislation;
(e)
a receiver, receiver and manager, provisional liquidator or like official has been appointed over the whole or substantial part of the individual licensee’s assets and such appointment is not revoked or annulled within a period of sixty days from the date of such appointment;
or
(f)
there has been any act or default on the part of the individual licensee or there has been a change of circumstances such that the individual licensee would no longer be entitled to be granted an individual licence under this Act.
(3)
The Commission may request the individual licensee to provide any information or document as may be required for the renewal application within a period specified in the request.
(4)
Notwithstanding subsection (2), if the information or document requested under subsection (3) is not provided by the individual licensee within the period specified in the request or any extension of time granted by the Commission, the Minister may not renew the individual licence.
(5)
If the Minister refuses to renew the individual licence, the
Commission shall inform the individual licensee by written notice as soon as practicable of the Minister’s refusal to renew the individual licence.
(6)
The individual licensee shall be given an opportunity to make written submissions to the Minister within a period specified in the written notice referred to in subsection (5) which shall not be less than fourteen days.
(7)
After the expiry of the period specified in the notice under subsection (6), the Minister shall, after considering any written submissions made by the individual licensee and having due regard to any recommendation of the Commission, decide whether or not to renew the individual licence.
(8)
If the Minister decides not to renew the individual licence, the Commission shall notify the individual licensee as soon as practicable of the Minister’s decision and shall publish the decision in at least one national language and one English language national daily newspaper for at least three consecutive days.
(9)
Any delay or failure to publish the notice referred to in subsection (8) shall not in any manner affect the validity of the
Minister’s decision not to renew the individual licence.
(10)
The Minister and the Commission shall not be liable for any action, loss or damage arising from or occasioned by the publication of the notice referred to in subsection (8).
Effect of revocation, surrender or non-renewal of individual licence