Section 26f — COMMERCIAL VEHICLES LICENSING BOARD (AMENDMENT) ACT 2017

(2)

A holder of an intermediation business licence who fails to comply with 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.

Duty of the holder of an intermediation business licence to inform Board 26g. (1) It shall be the duty of every holder of an intermediation business licence, at all times, to inform the Board immediately of the following matters:

(a)

any proceedings or claims instituted or made against the holder of an intermediation business licence which might have an adverse effect on his financial condition or on his ability to perform any condition under the intermediation business licence;

(b)

any reprimands or fines imposed on the holder of an intermediation business licence by the Government;

and

(c)

any change in the control of the holder of an intermediation business licence.

Commercial Vehicles Licensing Board (Amendment)

(2)

For the purposes of this section, “control”, in relation to a holder of an intermediation business licence, means having the power, directly or indirectly, to direct the management and policy of the holder of an intermediation business licence.

(3)

A holder of an intermediation business licence who fails to comply with 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.”.

Amendment of section 27