Section 25A
of Securities Industry (Central Depositories) Act 1991
Section 25A
Where an authorized nominee opens a securities account under subsection 25(4), such authorized nominee shall only hold deposited securities for one beneficial owner in respect of each securities account.
(2)
An authorized nominee shall, in such manner and within such period as may be specified in the rules of the central depository, furnish to the central depository the name and other particulars of the beneficial owner of the securities deposited in the securities account, opened in the name of the authorized nominee.
(3)
An authorized nominee who contravenes subsection (1) or (2)
shall be guilty of an offence and shall, on conviction, be liable to a
Securities Industry (Central Depositories) 41
fine not exceeding three million ringgit or to imprisonment for a term not exceeding ten years or to both.