Malaysia legislation
Section 18
Section 18
Section 18 of the principal Act is amended—
(a)
in the shoulder note, by substituting for the word “Security”
the words “Financial security”;
18
(b)
in subsection (1)—
(i)
by substituting for the word “security” the words
“financial security”; and
(ii)
by inserting after the words “the conditions of the licence” the words “and the provisions of this Act”;
(c)
in subsection (2), by substituting for the words “, such security” the words “or the provisions of this Act, such financial security”; and
(d)
by inserting after subsection (2) the following subsection:
“(3) The appropriate authority may, whenever he considers it necessary to do so, require the licensee to forthwith deposit an additional sum of financial security.”.
New sections 18a and 18b