Malaysia legislation
Section 21
Section 21
Section 217 of the principal Act is amended—
(a)
in the shoulder note, by substituting for the words “and
Mergers” the words “, Mergers and Compulsory
Acquisition”;
Capital Markets and Services (Amendment)
(b)
by substituting for subsection (3) the following subsection:
“(3) The Code shall contain principles governing take-over offer, merger or compulsory acquisition.”;
(c)
by substituting for subsection (4) the following subsection:
“(4) The Commission shall administer the Code and may do all such things as may be necessary or expedient to give full effect to the provisions of this Division and the Code and without limiting the generality of the foregoing, may—
(a)
issue rulings—
(i)
to interpret this Division and the Code;
(ii)
on the practice and conduct of persons involved in or affected by any take-over offer, merger or compulsory acquisition, or in the course of any take-over, merger or compulsory acquisition; and
(b)
enquire into any matter relating to any take-over offer, merger or compulsory acquisition whether potential or otherwise, and for this purpose, may issue public statements as the
Commission thinks fit with respect thereto.”;
and
(d)
by deleting subsection (5).
Amendment of section 218