Malaysia legislation
Section 76
Section 76
(2)
Subject to subsection (4), any person who—
(a)
invites or offers to arrange for any individual to participate in a futures contract in which two or more other individuals also participate or are likely to participate; or
(b)
invites or offers to arrange for any individual to make a futures contract knowing or having reasonable cause to believe that the individual will do so on behalf or for the benefit of two or more other individuals, commits an offence and is liable on conviction to a fine not exceeding fifteen thousand ringgit or to imprisonment for a term not exceeding one year or to both.
(3)
For the purposes of subsections (1) and (2)—
(a)
an individual who makes a futures contract acts for the benefit of every individual who shares in the profit or loss on the contract; and
(b)
an individual participates in a futures contract if he shares in the profit or loss on the contract.
(4)
The Minister may, by order published in the Gazette, exempt any person or contract or class or description of person or contract from subsections (1) and (2).