Securities Commission Act 1993 · Updated to 1 Mar 2016 · Part II · Securities Commission Malaysia
Section 4
Feedback & supportThere shall be a Board of the Commission.
The Board shall consist of the following members who shall be appointed by the Minister:
Minister
“Minister” means the Minister for the time being charged with the responsibility for finance;
a Chairman;
a Deputy Chief Executive; and
seven other members, who may include persons representing the government and private sector.
The Board shall—
be responsible for monitoring the overall governance of the Commission;
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be responsible for reviewing and approving the strategic plan and budget of the Commission;
be responsible for reviewing and adopting appropriate systems and controls to manage the enterprise risks of the Commission;
have oversight of the affairs and business of the
Commission and keep under constant review the performance of the Commission in giving effect to its objects, carrying out its functions and the use of the financial resources of the Commission; and
be responsible for such other matters as may be provided under the securities laws.
A member of the Board shall at all times act honestly and in the best interest of the Commission and use reasonable diligence in the discharge of his functions.
Commission
“Commission” means the Securities Commission Malaysia established under section 3;
A member of the Board shall not make improper use of any information acquired or exercise any improper influence by virtue of his position to gain directly or indirectly an advantage for himself or for any other person.