Section 148
of Securities Commission (Amendment) Act 2015
Section 148
Subject to section 124 of the Evidence Act 1950, persons specified in subsection (2) shall not disclose any information which has been obtained by him in the course of his functions and which is not published in accordance with the securities laws, except—
(a)
where the disclosure is authorized under a provision of the securities laws;
Securities Commission (Amendment)
(b)
for the purposes of assisting or enabling the Commission in the discharge of its functions under the securities laws or any other written law;
(c)
in any criminal or civil proceedings by or against the
Commission; or
(d)
where the disclosure is authorized by the
Commission.
(2)
Subsection (1) shall apply to the following persons:
(a)
a member of—
(i)
the Commission;
(ii)
the Shariah Advisory Council;
(iii)
the Audit Oversight Board; or
(iv)
the Capital Market Development Fund
Board;
(b)
a member of any committee of the Commission, the
Shariah Advisory Council, the Audit Oversight Board, or the Capital Market Development Fund Board;
(c)
an officer or agent of the Commission; or
(d)
a person attending any meeting of—
(i)
the Commission;
(ii)
any committee of the Commission;
(iii)
the Shariah Advisory Council;
(iv)
the Audit Oversight Board;
(v)
the Capital Market Development Fund
Board.
(3)
Any person who contravenes subsection (1) shall be guilty of an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit or to imprisonment for a term not exceeding five years or to both.”.
New sections 148a and 148b