Malaysia legislation
Section 10
Section 10
The principal Act is amended by substituting for section 5
the following section:
Quoted provision
Section 5
(a)
is or becomes a full-time officer in any public listed company;
(b)
is or becomes an officer or a director of an entity that is licensed, registered, recognized or approved under the securities laws;
(c)
is or becomes a member of the Senate or House of
Representatives or any Legislative Assembly;
(d)
is convicted of a criminal offence involving fraud, dishonesty, corruption or violence;
(e)
is or becomes a bankrupt or suspends payment or compounds with his creditors; or
(f)
is or becomes involved in any activity which may interfere with his independence in discharging his functions.
(2)
The prohibition in paragraph (1)(a) shall not apply to a member of the Board who is from the Ministry that is charged with the responsibility for finance.”.
Securities Commission (Amendment)
13
Substitution of section 6