Securities Commission Act 1993 · Updated to 1 Mar 2016 · Part V · Enforcement and Investigation
129. Procedure by Investigating Officer on seizure of property
Feedback & supportA list of all things seized in the course of an inspection or investigation made under this Part and of the place or building in which they are respectively found shall be prepared by the
Investigating Officer of the Commission conducting the inspection and signed by him.
officer
“officer”, in relation to— (a) the Commission, means any officer employed under section 20 and includes an Investigating Officer of the Commission appointed under section 125; and (b) a corporation, has the meaning assigned to it in the Companies Act 1965;
The occupant of the place or building entered under subsection 128(1), or some person in his behalf, shall in every instance be permitted to attend during the inspection, and a copy of the list prepared and signed under subsection (1) shall be delivered to such occupant or person at his request.
An Investigating Officer of the Commission shall, unless otherwise ordered by any court, on the close of investigations or any proceedings arising therefrom, release any property seized, detained
Commission
“Commission” means the Securities Commission Malaysia established under section 3;
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or removed by him or any other Investigating Officer of the
Commission, to such person as he determines to be lawfully entitled to the property, if he is satisfied that it is not required for the purpose of any prosecution or proceedings under any securities law, or for the purpose of any prosecution under any other written law.
A record in writing shall be made by the Investigating Officer of the Commission who releases any property under subsection (3) in respect of such release specifying therein the circumstances of, and the reason for, such release.
Where the Investigating Officer of the Commission is unable to determine the person who is lawfully entitled to the property or where there is more than one claimant to such property, the
Investigating Officer of the Commission shall report the matter to a
Magistrate who shall then order that the property be dealt with as provided for in section 130.
For the purpose of this section and of sections 130 and 131,
“property” includes books and other documents.
books
“books” has the meaning assigned to it in the Capital Markets and Services Act 2007;