Malaysia legislation
Section 173
Section 173
(2)
A person who wishes to enter into an agreement as referred to in subsection (1) shall submit the finalized draft of the written agreement to the Commission for endorsement.
(3)
If the Commission is satisfied that the finalized draft agreement submitted to it under subsection (2) is consistent with this Act or its subsidiary legislation, the Commission shall endorse the finalized draft agreement and the person may enter into the written agreement on the same terms as the endorsed draft agreement and shall submit the written agreement to the Commission for registration.
(4)
The Commission shall register any written agreement submitted to it under subsection (3).
(5)
Where the parties to a written agreement referred to in subsection (1) chooses to enter into the written agreement prior to the Commission endorsing the written agreement, the parties to the agreement shall make provisions in the written agreement to the effect that the written agreement is only effective upon the
Commission registering the written agreement.
(6)
A written agreement referred to in subsection (1) shall only be enforceable upon its registration.
(7)
The Commission shall register the written agreement if the
Commission is satisfied that the agreement is consistent with this
Act or its subsidiary legislation.
(8)
The Commission shall maintain a register of all agreements registered under this section in accordance with section 176.
(9)
The register shall contain—
(a)
the names of the parties to the agreement;
(b)
a general description of the matter pertaining to the agreement; and
(c)
the date of the agreement, except the terms and conditions of the agreement.
(10)
A copy of the written agreement shall be deposited with the Commission.
Certifying agencies