Malaysia legislation
Section 20
Section 20
Amendment of section 140A
(a)
in paragraph (5)(c), by inserting after the word “person” the
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words “(in this section referred to as “third person”)”; and
(b)
by inserting after subsection (5) the following subsection:
“(5A) Without prejudice to the generality of section 139, for the purpose of subsection (5), “control” refers to persons one of whom owns shares of the other person, or a third person who owns shares of both persons, where the percentage of the share capital held in either situation is twenty per cent or more and —
(a)
the business operations of that person depends on the proprietary rights, such as patents, non-patented technological know-how, trademarks, or copyrights, provided by the other person or a third person;
(b)
the business activities, such as purchases, sales, receipt of services, provision of services, of that person are specified by the other person, and the prices and other conditions relating to the supply are influenced by such other person or a third person; or
(c)
where one or more of the directors or members of the board of directors of a person are appointed by the other person or a third person.”.
New section 140C