Malaysia legislation
Section 26
Section 26
The principal Act is amended by substituting for section 22a the following section:
“Commission may establish or participate in body corporate 22a. (1) The Commission may, with the approval of the
Minister, establish or participate in any body corporate for
Securities Commission (Amendment)
21
the purpose of promoting research and training in relation to the capital market, or for the purpose of carrying out its functions under this Act.
(2)
The Commission may—
(a)
receive a grant or donation;
(b)
make a grant or donation; or
(c)
provide any other form of assistance, for the establishment or operations of the body corporate under subsection (1).
(3)
Monies received under paragraph (2)(a) shall be kept in a designated trust account.
(4)
The Commission shall disburse the monies in the designated trust account to the person entitled in accordance with the purpose for which the monies were received by the
Commission.
(5)
Where the Commission establishes a body corporate under subsection (1), the Commission may take any action or do all such things as may be necessary or expedient for—
(a)
the interest of the public or for the protection of investors;
(b)
the effective administration of the securities laws; or
(c)
ensuring compliance with any conditions or restrictions as imposed on the body corporate under the securities laws.”.
Amendment of section 23