Section 12f
of Land Public Transport (Amendment) Act 2017
Section 12f
It shall be the duty of an intermediation business licensee to keep such accounts and records as required by rules made by the Commission under paragraph 253(1)(m) in relation to the licence issued to him.
(2)
An intermediation business licensee who fails to comply with subsection (1) commits an offence and shall, on conviction, be liable to a fine of not less than one thousand ringgit but not more than ten thousand ringgit or to imprisonment for a term not exceeding one year or to both.
Duty of intermediation business licensee to inform Commission 12g. (1) It shall be the duty of every intermediation business licensee, at all times, to inform the Commission immediately of the following matters:
(a)
any proceedings or claims instituted or made against the intermediation business licensee which might have an adverse effect on his financial condition or on his ability to perform any condition under the licence;
(b)
any reprimands or fines imposed on the intermediation business licensee by any Government Entity; and
(c)
any change in the control of the intermediation business licensee.
(2)
For the purposes of this section, “control”, in relation to an intermediation business licensee, means having the power, directly or indirectly, to direct the management and policy of the intermediation business licensee.
(3)
An intermediation business licensee who fails to comply with subsection (1) commits an offence and shall, on conviction, be liable to a fine of not less than one thousand ringgit but not more than ten thousand ringgit or to imprisonment for a term not exceeding one year or to both.”.
Amendment of section 21