Companies Commission of Malaysia Act 2001 · Updated to 1 Mar 2018 · Part IIIC · Licensing
Section 20J
Feedback & supportSubject to subsection (2), a person who has been licensed may surrender the licence by sending it to the Commission together with a written notice of its surrender.
Commission
“Commission” means the Companies Commission of Malaysia established under section 3;
The surrender of a licence shall not take effect until the
Commission is satisfied that adequate arrangements have been made to meet all liabilities and obligations of the licensed person that are outstanding at the time the notice of surrender was given by the person who has been licensed.
liabilities
“liabilities” means liabilities, debts, charges, duties and obligations of every description whether present or future, actual or contingent, and whether payable or to be observed or performed in Malaysia or elsewhere;
A surrender of licence made under subsection (1) shall not operate so as to avoid or effect any liability or obligation arising out from any agreement, contract, transaction or arrangement relating to the services or activity carried out by the person who has been licensed by virtue of holding such licence.
30 Laws Of Malaysia ACT 614