Companies Act 2016 · Updated to 31 Jan 2025 · Part III · Management of Company
139. Person who ceases to be substantial shareholder to notify company
Feedback & supportA person shall give notice to the company in writing if he ceases to be a substantial shareholder in a company—
in the case of a company whose shares are quoted on a stock exchange, within three days after the person ceased to be a substantial shareholder; or
in any other case, within five days after the person ceased to be a substantial shareholder.
The notice shall contain—
the name and date of which the person ceased to be a substantial shareholder; and
Companies 171
the full particulars of the circumstances by reason of which the person ceased to be a substantial shareholder.
Any substantial shareholder who contravenes this section commits an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit and, in the case of a continuing offence, to a further fine not exceeding one thousand ringgit for each day during which the offence continues after conviction.