Section 26E

A holder of an intermediation business licence who contravenes subsection (1) commits an offence and shall, on conviction, be liable to a fine of not less than one thousand ringgit but not more than ten thousand ringgit or to imprisonment for a term not exceeding one year or to both.

Notwithstanding paragraph 26D(1)(c), the Board may, in the event of the death, incapacity, bankruptcy or, in the case of a company, liquidation of the holder of an intermediation business licence or, where a receiver or manager is appointed in relation to the business of providing intermediation business of such holder of an intermediation business licence or, where for any reason the Board is satisfied that it would be unjust not to do so, authorize the transfer of such intermediation business licence.

Commercial Vehicles Licensing Board 41

Duty of the holder of an intermediation business licence to keep records, etc.