Section 25 — AKTA PASARAN MODAL DAN PERKHIDMATAN (PINDAAN) 2015

(a)

by substituting for the shoulder note the following shoulder note:

“Action by Commission in cases of non-compliance with Code, guidelines, directions, practice notes and rulings”;

(b)

in subsection (1)—

(i)

by substituting for the words “or the Code, or any ruling made under subsection 217(4)” the words

“, the Code, guidelines, directions, practice notes or any ruling issued by the Commission”;

(ii)

in paragraph (a), by inserting after the word “Code” the words “, guidelines, directions, practice notes”;

(iii)

by substituting for paragraph (d) the following paragraph:

Capital Markets and Services (Amendment)

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“(d) require a stock exchange or derivatives exchange to deprive the person in breach from having access, directly or indirectly, to the facilities of the stock exchange or derivatives exchange;”;

(iv)

by inserting after paragraph (d) the following paragraph:

“(da) prohibit the person in breach from having access, directly or indirectly, to the capital market;”;

(v)

by substituting for paragraph (e) the following paragraph:

“(e) where the person in breach is a listed corporation, require the stock exchange—

(i)

to suspend trading in the securities of the corporation;

(ii)

to suspend the listing of the corporation;

or

(iii)

to remove the corporation or the class of securities of the corporation from the official list;”;

(vi)

in paragraph (f), by substituting for the word “direct”

the word “require”;

(vii)

by deleting paragraph (g);

(viii)

in paragraph (h), by substituting for the full stop at the end of the paragraph a semi colon;

(ix)

by inserting after paragraph (h) the following paragraph:

“(i) where the person in breach is an adviser, refuse to accept or consider any submission relating to any matter under this Division from such person.”;

(c)

in subsection (3), by inserting after the word “Code” the words “, guidelines, directions, practice notes”;

(d)

by inserting after subsection (8) the following subsection:

“(8a) Where a person has failed to comply with any direction issued under subsection (1), the Commission may deprive such person from any capital market services by requiring a licensed person, registered person or capital market service provider not to act or continue to act for such person, for any period as may be determined by the Commission.”; and

(e)

in subsection (9)—

(i)

in the definition of “breach”, by substituting for the words “Part or the Code or any ruling made under subsection 217(4)” the words “Division, the

Code, guidelines, directions, practice notes or any ruling issued by the Commission”; and

(ii)

in the definition of “person in breach”, by substituting for the words “Part or the Code or any ruling made under subsection 217(4)” the words “Division, the

Code, guidelines, directions, practice notes or any ruling issued by the Commission”.

Amendment of section 221