Malaysia legislation
Section 157
Section 157
(2)
Rules made by the self-regulatory organization under subsection (1), and amendments thereto, shall be of no effect unless approved by the Authority.
Labuan Financial Services and Securities 153
(3)
The Authority shall be taken to have granted approval for the purposes of subsection (1) where it has not objected to them within one month after they were submitted to the Authority for such approval.
(4)
The rules of a self-regulatory organization may make provision with respect to shareholding and voting rights in the self-regulatory organization in the interests of the members of the self-regulatory organization, the consumers, investors and of the users of their services.
Restriction on decision-making