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mylaw.myby aturio
In forceUpdated to 2 Jan 2025Read it in Bahasa Malaysia
Contents

Part XIII · Directions of Compliance

171. Additional provisions relating to paragraph 168(2)(b)

(1)

A direction issued pursuant to paragraph 168(2)(b) may direct the licensed person to issue shares or other capital instruments of a kind specified in the direction.

(2)

Where the licensed person issues shares or other capital instruments in compliance with a direction pursuant to subsection (1), the licensed person shall give a notice in writing to the members of the licensed person to subscribe to the shares or other capital instruments within the period specified in the notice.

164

(3)

Where a member of the licensed person does not subscribe to the shares or other capital instruments within the period specified in the notice given by the licensed person pursuant to subsection (2), the

Bank may issue a further direction pursuant to subsection 168(1) to the licensed person requiring the licensed person to allot the shares or other capital instruments to a person determined by the Bank.

Report

Part XIV

Intervention and Remedial Action

Read on from Part XIV

Part XV

Other Powers of Bank

Read on from Part XV

Part XVI

Enforcement and Penalties

Read on from Part XVI

Part XVII

General Provisions

Read on from Part XVII

Part XVIII

Repeal, Savings and Transitional

Read on from Part XVIII

Schedules