Section 57

Pending the decision of the Controller or relevant Authority on the application under subsection (1), the applicant shall be deemed to be temporarily authorized to continue his activities under this Act for a period of three months from the date of commencement of this Act and no action shall be taken against him for engaging in such activity without a permit or registration during such period.

Notwithstanding subsection (2), a person authorized under this section shall for the purposes of this Act comply with the requirements, duties and obligations of a permit holder or a registered broker.

Where a permit is issued under section 16 or registration is granted under section 19 by the Controller or relevant Authority, the applicant shall immediately take the necessary action to comply with

54 Laws of Malaysia any conditions imposed on the permit or registration, as the case may require.

Where the permit or registration is refused by the Controller or relevant Authority, the applicant shall cease to be deemed to be authorized under subsection (2) from the date he is notified of the decision of the Controller or relevant Authority.

*NOTE—see section 60 of the Abolition of Mandatory Death Penalty Act 2023

[Act 846] w.e.f 4 July 2023 which provides the following provision:

“Transitional