Section 9 — INTEREST SCHEMES ACT 2016

(2)

An application to register a scheme shall be made to the

Registrar by providing the following information:

(a)

the name of the management company;

(b)

the names and addresses of the directors, secretary and auditor of the management company;

(c)

if the scheme or part of the scheme is managed by a third party, the names and addresses of the third party;

(d)

the names and addresses of the trustees appointed by the management company;

(e)

in the case of a foreign scheme, the names and addresses of the foreign company, its directors and agents in

Malaysia as referred to in Division 1 of Part V of the

Companies Act 2016 and the trustees appointed by the management company;

(f)

the amount proposed to be raised by the scheme; and

(g)

any other information as the Registrar may require.

(3)

The application shall be accompanied with a prescribed fee and the following documents:

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(a)

in the case of a premium scheme—

(i)

a copy of the constitution of the management company;

(ii)

a prospectus; and

(iii)

a trust deed;

(b)

in the case of a small scheme—

(i)

a copy of the constitution of the management company;

(ii)

a product disclosure statement; and

(iii)

a contractual agreement; or

(c)

in the case of a foreign scheme—

(i)

a copy of certificate of incorporation of the foreign company at its country of origin or such other equivalent document;

(ii)

a copy of the constitution of the management company;

(iii)

a copy of the approval or registration by the relevant authority at its country of origin authorising the foreign company to offer interests under a scheme;

(iv)

a copy of a prospectus and an approved trust deed, or such other similar document in the country of origin;

(v)

a prospectus; and

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(vi)

a trust deed.

(4)

In considering the application made under subsection (3), the

Registrar may direct the management company to furnish other document or further information or clarification.

(5)

In relation to an application made under this section, the

Registrar may—

(a)

require the management company to appear before the

Registrar for personal representation;

(b)

direct the management company to compensate any person who have purchased any interest in the scheme prior to the application; or

(c)

restrain the management company from carrying on the following activities, including, but not limited to, activities which were carried on prior to the application:

(i)

promoting any interest relating to a scheme to members of the public;

(ii)

dealing or generating interest in its products or offering of products;

(iii)

printing, publishing or distributing or causing to be printed, published or distributed, written materials promoting interest schemes;

(iv)

making any recommendation or offering advice, whether orally or in writing, to any person in relation to a product or a decision by a person regarding whether or not to invest in a product; or

(v)

inducing, soliciting, collecting or receiving money from a person in relation to the scheme.

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(6)

The Registrar may approve or refuse the application if he is not satisfied with the particulars or other information furnished under the provisions of this Act.

Certificate of authorization