Malaysia legislation

Section 13

of SECURITIES COMMISSION (AMENDMENT) ACT 2015

Section 13

“Resignation

The principal Act is amended by substituting for section 8

the following section:

Quoted provision

Section 8

The Minister may, at any time, revoke the appointment of a member of the Board if the member—

(a)

becomes of unsound mind or otherwise becomes incapable of discharging his functions;

(b)

is absent from three consecutive meetings of the Board, in the case of the Chairman, without leave of the

Minister and in the case of the Deputy Chief Executive or other members of the Board, without leave of the

Chairman;

(c)

conducts himself in such a way as to bring disrepute to the Commission;

(d)

fails to comply with his obligations under section 13;

or

(e)

is disqualified under section 5.”.

Amendment of section 9