Section 162
Retention of over-subscription in issuance of debenture
(a)
that the corporation expressly reserves the right to accept or retain over-subscriptions; and
(b)
a limit expressed as a specific sum of money on the amount of over-subscriptions that may be accepted or retained being an amount not more than twenty-five per centum in excess of the amount of the issue as disclosed in the prospectus.
(2)
Subject to the First Schedule, if a corporation specifies in a prospectus relating to a debenture issue that the corporation reserves the right to accept or retain over-subscriptions—
(a)
the corporation shall not make, authorize or permit any statement of or reference as to the asset-backing for the issue to be made or contained in any prospectus relating to the issue, other than a statement or reference to the total tangible assets and the total liabilities of the corporation and of its guarantor corporations; and
(b)
the prospectus shall contain a statement or reference as to what the total assets and total liabilities of the corporation would be if over-subscriptions to the limit specified in the prospectus were accepted or retained.
(3)
The corporation that contravenes this section commits an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit.