Section 27
Section 27
A person shall not issue or offer to public for subscription or purchase or invite the public to subscribe for or purchase any
Interest Schemes
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interest unless, at the time of the issue, offer or invitation, there is in force, in relation to the interest—
(a)
in the case of a premium scheme or a foreign scheme, an approved trust deed; or
(b)
in the case of a small scheme, an approved contractual agreement.
(2)
A person shall not in any trust deed, contractual agreement, prospectus, product disclosure statement, advertisement or other document relating to any interest make any reference to an approval granted under this Act.
(3)
A person who contravenes this section commits an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit or to imprisonment for a term not exceeding three years or to both.