Malaysia legislation
Section 4
Section 4
Section 5 of the principal Act is amended—
(a)
in the shoulder note, by substituting for the words
“securities and derivatives” the words “securities, derivatives and capital market products”;
(b)
by substituting for subsection (1) the following subsection:
“(1) Notwithstanding the definition of “securities”,
“derivatives”, “Islamic securities” or “Islamic derivatives”
under this Act and “interest” as defined in subsection 84(1)
of the Companies Act 1965, the Minister may, on the recommendation of the Commission, by order published in the Gazette, prescribe any instrument or product or class of instruments or products to be—
(a)
securities;
(b)
derivatives;
(c)
capital market products;
(d)
Islamic securities;
(e)
Islamic derivatives; or
(f)
Islamic capital market products, for the purposes of the securities laws.”; and
(c)
by substituting for subsection (3) the following subsection:
“(3) In a prescription made under subsection (1) or
(2)
in respect of securities, derivatives, capital market products, Islamic securities, Islamic derivatives, or
Islamic capital market products, the Minister may—
(a)
for the purposes of regulating the issue, offer for subscription or purchase, or the making of an invitation to subscribe for or purchase, any securities or Islamic securities, specify in the prescription any provision of this Act to apply to such securities or Islamic securities;
(b)
in the case of derivatives or Islamic derivatives, specify in the prescription any provision of this Act to apply to such derivatives or Islamic derivatives; and
(c)
for the purposes of regulating the issue, offer for subscription or purchase, or the making of an invitation to subscribe for or purchase, any
Capital Markets and Services (Amendment)
7
capital market product or Islamic capital market product, specify in the prescription any provision of this Act to apply to such capital market product or Islamic capital market product.”.
Amendment of section 7