Section 145 — LABUAN FINANCIAL SERVICES AND SECURITIES ACT 2010

(a)

at any time investigate or enquire into any transaction involving the purchase or sale of securities entered into by any person whether directly or indirectly to ascertain if that person has used dishonest, unfair or unethical devices or trading practices whether such devices or trading practices constitute an offence under this Act or any other written law or an infringement of any of the rules or otherwise;

(b)

require any such person to submit detailed information of any transaction involving the purchase or sale of securities;

Act 704

(c)

require the production of, inspect and make copies or printouts of or take extracts from any document record or thing relating to—

(i)

the business or affairs of an exchange;

(ii)

any dealing in securities;

(iii)

any advice, report or analysis concerning securities;

or

(iv)

the accounts or records of any person concerned in any capacity with the matters referred to in subparagraph (i), (ii) or (iii) and any audit of, or report of an auditor concerning, the same; or

(d)

whenever the Authority considers it necessary, examine by way of on-site inspections, the affairs or business of any market participants, which shall include listing sponsors and trading agents, for the purpose of—

(i)

assessing whether the market participant is carrying out its permitted activities in accordance with this Act, any regulations made under this Act and or any other applicable law;

(ii)

confirming that the provisions of the *Anti-Money

Laundering and Anti-Terrorism Financing Act 2001

are being complied with; and

(iii)

carrying out the functions of the Authority;

(e)

with the authority of a search warrant issued by the court to that effect and with or without the assistance of such persons as the Authority may require unless the Authority has reasonable grounds for believing that, by reason of the delay in obtaining the search warrant, the object of any entry is likely to be frustrated, and in such instance without a warrant—

(i)

break into and search any premises, place or item therein on or in which the Authority has reason to suspect there may be any document, record

*NOTE—The Anti-Money Laundering and Anti-Terrorism Financing Act 2001 [Act 613] has been amended and referred as Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 [Act 613] which comes into operation on 1 September 2014—

see section 3 Anti-Money Laundering and Anti-Terrorism Financing (Amendment) Act 2014

[Act A1467] and P.U. (B) 400/2014.

Labuan Financial Services and Securities 145

or thing the production of which was required by virtue of this section but not produced in compliance with such requirement; or

(ii)

take possession of or secure against interference any document, record or thing the production of which was required.

(2)

The Authority may in writing authorize any other person to assist it to perform functions under this Act.

(3)

A person who—

(a)

fails to comply with a requirement made under subsection (1);

(b)

in purported compliance with a requirement made under subsection (1) furnishes information or makes a statement that is false or misleading in a material particular; or

(c)

obstructs or hinders the Authority or another person in the exercise of any power under subsection (1), commits an offence and shall, on conviction, be liable to a fine not exceeding ten million ringgit or to imprisonment for a term not exceeding five years or to both.

(4)

The powers conferred under this section are in addition to, and not in derogation of, any other powers conferred by law.

FALSE OR MISLEADING MARKET AND INSIDER DEALING

Creation of false or misleading market