Securities Commission Act 1993 · Updated to 1 Mar 2016 · Part III · Finance
31Q. Power to revoke, withdraw or suspend registration or recognition
Feedback & supportThe Audit Oversight Board may, at any time—
Audit Oversight Board
“Audit Oversight Board” means the Audit Oversight Board established under section 31C;
revoke or suspend the registration; or
withdraw or suspend the recognition, of an auditor if—
there exists a ground on which the Audit Oversight
Board may refuse an application under subsection 31P(1) or (1A);
the auditor contravenes any terms or conditions imposed by the Audit Oversight Board in respect of his registration or recognition under this Part; or
the auditor fails to pay any fee as specified by the Audit
Oversight Board.
Securities Commission Malaysia 57
The suspension under subsection (1) may be extended or revoked at any time by the Audit Oversight Board as it considers appropriate.
Where the Audit Oversight Board intends to—
revoke or suspend the registration; or
withdraw or suspend the recognition, under subsection (1) or (2), it shall give the auditor an opportunity to be heard by serving a written notice to the auditor concerned stating the grounds for such revocation, suspension or withdrawal.
(Deleted by Act A1403).
For the purposes of this Part, an auditor whose registration has been revoked or suspended or whose recognition has been withdrawn or suspended, as the case may be, shall be deemed not to be registered or recognized as an auditor from the date the revocation, withdrawal or suspension takes effect or any other date as may be specified by the Audit Oversight Board.