Securities Commission Act 1993 · Updated to 1 Mar 2016 · Part V · Enforcement and Investigation
134. Power to call for examination
Feedback & supportIf an Investigating Officer of the Commission carrying out an investigation under any securities law suspects or believes on reasonable grounds that any person can give information relevant to a matter that he is investigating, the Investigating Officer of the
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;
Commission may by notice in writing to such person require such person—
Commission
“Commission” means the Securities Commission Malaysia established under section 3;
to give to the Investigating Officer of the Commission all reasonable assistance in connection with the investigation; and
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to appear before a specified Investigating Officer of the
Commission or specified Investigating Officers of the
Commission to be examined orally.
An Investigating Officer of the Commission exercising his authority under paragraph (1)(b) shall reduce into writing any statement made by the person examined under subsection (1).
A person referred to in subsection (1) shall be legally bound to answer all questions relating to such case put to him by the
Investigating Officer of the Commission and to state the truth, whether or not the statement is made wholly or partly in answer to questions, and shall not refuse to answer any question on the ground that it tends to incriminate him.
A statement made by any person under this section shall be taken down in writing or recorded and subsequently taken down in writing and signed by the person making it or affixed with his thumb print, as the case may be, after it has been read to him and after he had been given an opportunity to make any correction he may wish:
Provided that, where the person examined refuses to sign or affix his thumb print on the statement, the Investigating Officer of the
Commission shall endorse thereon under his hand the fact of such refusal and the reason therefor, if any, stated by the person examined.
In an examination of a person under subsection (1), an
Investigating Officer of the Commission or Investigating Officers of the Commission examining the person may do any one or both of the following:
give directions about who may be present during the examination, or during any part of it;
record the examination or any part of it by audio or visual recording or a combination of both.
Any statement made and recorded under this section shall be admissible as evidence in any proceeding in any Court.
Court
“Court” means— Securities Commission Malaysia 15 (a) a High Court established under Article 121 of the Federal Constitution or a Judge of the High Court; or (b) a Sessions Court or a Magistrate’s Court established under section 3 of the Subordinate Courts Act 1948 or a Sessions Court Judge or a Magistrate;
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Any person who—
fails to appear before an Investigating Officer of the
Commission as required under subsection (1);
refuses to answer any question put to him by an
Investigating Officer of the Commission as required under subsection (2) or neglects to give any information which may reasonably be required of him and which he has in his power to give;
knowingly furnishes to an Investigating Officer of the
Commission information or statement that is false or misleading in any material particular;
obstructs an Investigating Officer of the Commission in carrying out an investigation under this section, shall be guilty of an offence and shall on conviction be punished with to a fine not exceeding one million ringgit or imprisonment for a term not exceeding five years or both.
For the purposes of this section and any other provision of
Part V, any notice that is given shall, if practicable, be served personally on the person specified in such notice.
In the case of a corporation, the notice may be served on the secretary or other like officer of the corporation or on any person who is responsible for the management of the affairs of the corporation.
corporation
“corporation” has the meaning assigned to it in the Companies Act 1965;
Where the person specified in a notice given under this section or any other provision of Part V cannot by the exercise of due diligence be found, the notice may be served by leaving a copy thereof for him with some adult member of his family or with his servant residing with him.
When the person specified in any notice given under this section or any other provision of Part V cannot by the exercise of due diligence be found, and service cannot be effected as directed by
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subsection (6) or (8), a copy of the notice shall be affixed to some conspicuous part of the house or such other place in which the person specified in the notice ordinarily resides, and in such case the notice shall be deemed to have been duly served.
If upon an investigation made under the securities laws it appears to the Investigating Officer of the Commission that there is sufficient evidence or reasonable ground of suspicion to justify the commencement or continuance of any proceedings against any person, the Investigating Officer of the Commission shall require the complainant, if any, and so many of the persons who appear to such
Investigating Officer of the Commission to be acquainted with the circumstances of the case as he thinks necessary, to execute a bond to appear before any Court therein named and to give evidence in such proceedings.
If any complainant or person referred to in subsection (10)
refuses to execute a bond under that subsection, the Investigating
Officer of the Commission shall report such refusal to the Court which may thereupon in its discretion issue a warrant or summons to secure the attendance of such complainant or person before itself to give evidence in the proceedings concerned.