Securities Commission Act 1993 · Updated to 1 Mar 2016 · Part VI · General
Section 160A
Feedback & supportWhere the Security Council of the United Nations decides, in pursuant to the Charter of the United Nations, on measures to be employed to give effect to any of its decisions and calls upon the
Government of Malaysia to apply such measures, the Commission may, in relation to the measures that are within the functions of the
Commission
“Commission” means the Securities Commission Malaysia established under section 3;
Commission, issue directions in writing to any persons licensed, registered, approved, recognized or authorized under any securities laws, to enable those measures to be effectively applied.
A direction issued under subsection (1) may include, but not be limited to a direction to freeze securities accounts, monies and assets.
A person to whom a direction is issued under subsection (1)
shall comply with the direction notwithstanding any other duty imposed on the said person by any contract or law or international agreement.
A person who carries out any act in compliance with the directions issued under subsection (1), shall not be treated as being in breach of any such contract or law or international agreement.
This section does not apply to a registered person as specified in the Third Column of Part 1 of Schedule 4 to the Capital Markets and Services Act 2007.
A person who fails to comply with any direction issued under this section shall be guilty of an offence.
112 Laws of Malaysia ACT 498