Malaysia legislation
Section 61
Section 61
The principal Act is amended by substituting for section 160
the following section:
“Immunity 160.
No action, suit, prosecution or other proceeding shall lie or be brought, instituted, or maintained in any court or before any other authority against—
(a)
the Commission;
(b)
any person who is or has been—
(i)
a member of the Board, Shariah Advisory
Council, Audit Oversight Board, Capital Market
Development Fund or Capital Market Compensation
Fund Corporation, or any committee established by the Commission, Shariah Advisory Council, Audit
Oversight Board, Capital Market Development
Fund or Capital Market Compensation Fund
Corporation; or
(ii)
an officer of the Commission; or
(c)
any person engaged by the Commission under section 145, for or on account of, or in respect of, any act done or statement made, omitted to be done or made by the persons specified in paragraphs (a), (b) or (c), in the performance of their functions, in the administration of the securities laws or in the exercise of any power conferred, whether expressed or implied, by or under any securities laws:
Provided that such act, statement, performance of functions or exercise of power was done or made, in good faith.”.
New section 160a