Malaysia legislation
Section 34
Section 34
(2)
Any person who contravenes subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding two hundred thousand ringgit or to imprisonment for a term not exceeding three years or to both.
(3)
Notwithstanding subsection (1), a licence may be transferred to any other person with the approval of the Chief Executive—
(a)
if an application in writing is made to the Chief Executive by the licensee; and
(b)
if the Chief Executive is satisfied that the person to whom the licence is to be transferred has the necessary financial and technical resources to comply with the conditions of the licence.