Malaysia legislation

Section 20

of SECURITIES COMMISSION (AMENDMENT) ACT 2015

Section 20

Section 17 of the principal Act is amended—

(a)

by substituting for the shoulder note the following shoulder note:

“Delegation of Board’s and Chairman’s functions”;

(b)

by substituting for subsection (1) the following subsection:

“(1)  The Board may delegate any of its functions to—

(a)

any of the members of the Board;

(b)

any Board committee established by the Board;

or

(c)

any officer of the Commission.”;

(c)

by inserting after subsection (1) the following subsection:

“(1a)  The Chairman may delegate any of his functions to—

(a)

any committee established by the Chairman;

or

(b)

any officer of the Commission.”; and

(d)

in subsection (2), by substituting for the word “Commission”

the words “Board or Chairman”.

Amendment of section 18