Malaysia legislation
Section 65
Section 65
(2)
Without prejudice to the generality of subsection (1), the
Commission may issue guidelines on—
(a)
the economic and legal analysis to be used in determining cases under this Part;
Malaysian Aviation Commission 63
(b)
the principles to be used in determining any penalty or remedy imposed under this Part;
(c)
the types of anticipated mergers that are applicable for consideration by the Commission under section 55; and
(d)
the procedures to be followed by any party making an application under section 55 or 56.
(3)
The Commission may revoke, vary, revise or amend the whole or any part of any guidelines issued under this section.
(4)
The Commission may impose a financial penalty for any non-compliance of any guidelines issued under this section―
(a)
where such person is an individual, to an amount not exceeding one million ringgit; or
(b)
where such person is a body corporate, to an amount not exceeding five per cent of the body corporate’s annual turnover from the preceding financial year.
(5)
For the purpose of this section―
“financial year” means the period in respect of which any financial statement is made up whether that period is a year or not;
“annual turnover” means the aggregate of all sums received in the course of the business during financial year, as stated or otherwise shown in the accounts of the business, including grants from any
Federal Government or State Government.
64 Laws of Malaysia ACT 771