In forceUpdated to 11 Apr 1991Read it in Bahasa Malaysia

Contents

Securities Industry (Central Depositories) Act 1991 · Updated to 11 Apr 1991 · Part IV · Secrecy Provisions

46. Regulation of access to the computer system

(1)

Subject to any regulation made under subsection (2), a central depository may give to its authorized depository agents, a stock exchange

(on which the deposited securities are listed), a clearing house of such stock exchange, issuers and any other person as may be specified in the rules of the central depository, access to its computer system.

(2)

The Minister may, for the purpose of regulating access to the computer system, prescribe by regulations the extent to which any user or class of users may have, or should be prohibited from having, access to such system.

(3)

Any person who—

(a)

being a user, unlawfully gains access, or attempts to gain access, to a computer system of a central depository, whether by means of any device or apparatus forming part of the computer system or by any other means, beyond the extent to which he is authorized to have access by the central depository under subsection (1) or under any regulations made by the Minister under paragraph 63(2)(r);

(b)

unlawfully gains access, or attempts to gain access, to a computer system of a central depository, whether by

58 Laws of Malaysia ACT 453

means of any device or apparatus forming part of the computer system or by any other means; or

(c)

unlawfully interferes with, or impedes, or attempts to interfere with or impede, the operation of a computer system of a central depository, shall be guilty of an offence.

(4)

A person who is guilty of an offence under this section shall, on conviction, be liable to a fine not exceeding ten million ringgit or to imprisonment for a term not exceeding ten years or to both.

Terms defined in s 2

access
Defined · s 2
―access‖, in relation to a computer system, means the placing of information on that system and the retrieval of information from that system;
Open s 2
Act
Defined · s 2
―Act‖ includes any regulations made under this Act;
Open s 2
central depository
Defined · s 2
―central depository‖ means a company approved by the Minister under section 5— Securities Industry (Central Depositories) 11 (a) to establish and operate a system for the central handling of securities, whether or not listed on any stock exchange,— (i) whereby all such securities are deposited with and held in custody by, or registered in the name of, the company or its nominee company for the depositors and dealings in respect of those securities are effected by means of entries in securities accounts without the physical delivery of scrips; or (ii) which permits or facilitates the settlement of securities transactions or dealings in securities without the physical delivery of scrips; and (b) to provide other facilities and services incidental thereto;
Open s 2
computer system
Defined · s 2
―computer system‖, in relation to a central depository, means the computer system established by a central depository forming part of the system for the central handling of securities which inter alia consists of— (a) the central equipment comprising hardware, and software associated with that hardware, located at the premises of the central depository; and (b) the terminals located at the premises of the users;
Open s 2
Minister
Defined · s 2
―Minister‖ means the Minister of Finance; *NOTE—This Act has since been repealed by Capital Market and Services Act 2007 which comes into operation on 28 September 2007 except Division 2 of Part VI which comes into operation on 1 April 2010–see subsection 381(2)…
Open s 2
rules
Defined · s 2
―rules‖, in relation to— (a) a central depository, means the rules of a central depository, and includes— (i) rules contained in the memorandum and articles of association or other constituent document of the central depository; (ii) rules to ensure compliance by its authorized depository agents, users or depositors of any obligations imposed by this Act or any other written law; (iii) rules in relation to the provision of services for the deposit, holding, transfer and withdrawal of securities, and the suspension or withdrawal of such services; (iv) rules to provide for the persons who may participate in one or more of the services referred to in subparagraph (iii); and (v) rules in respect of such other matters as are necessary or desirable for the proper and efficient operation and management of the central depository, including rules setting fees and charges; and Securities Industry (Central Depositories) 15 (b) an exchange holding company, means the memorandum and articles of association, including rules regulating the activities and conduct of the company in its capacity as an exchange holding company;
Open s 2
stock exchange
Defined · s 2
―stock exchange‖ has the same meaning as is assigned to that expression under subsection 2(1) of the *Securities Industry Act 1983; *NOTE—This Act has since been repealed by Capital Market and Services Act 2007 which comes into operation on 28 September 2007 except Division 2 of Part VI which comes into operation on 1 April 2010–see subsection 381(2)…
Open s 2
user
Defined · s 2
―user‖ means— (a) an authorized depository agent; (b) an issuer; (c) a stock exchange; (d) a body corporate acting as a clearing house of a stock exchange; or (e) such other person as may be specified in the rules of a central depository, who may be given access to a computer system of the central depository; (2) A reference to writing shall be deemed to include any mode of representing or reproducing letters, figures or marks in a visible form. (3) A reference to a security being deposited, or required to be deposited, with a central depository shall be construed as a reference to a deposit of or a requirement for the deposit of— *NOTE—This Act has since been repealed by Capital Market and Services Act 2007 which comes into operation on 28 September 2007 except Division 2 of Part VI which comes into operation on 1 April 2010–see subsection 381(2)…
Open s 2

Report

Part V

Offences

Read on from Part V

Part VI

Enforcement

Read on from Part VI

Part VII

General

Read on from Part VII