Section 56
Disclosure to Commission
of Securities Industry (Central Depositories) Act 1991
(1)
The Commission may require a central depository or its authorized depository agent to disclose to the Commission, in relation to any acquisition or disposal of deposited securities, any information including the name of the person from or through whom or on whose behalf the securities were acquired or to or through whom or on whose behalf the securities were disposed of, their securities account numbers and the entries made in such securities accounts and the nature of the instructions given to the central depository or its authorized depository agent in respect of such acquisition or disposal.
(2)
The Commission may require a depositor to disclose to the
Commission whether he acquired or disposed of the deposited securities, as the case may be, as trustee for, or on behalf of, another person and, if he acquired or disposed of those securities as trustee for, or on behalf of, another person, to disclose the name of that other person and the nature of any instructions given to the depositor in respect of the acquisition or disposal.
(3)
A person who, without reasonable excuse, fails to comply with the requirement of the Commission under subsection (1) or (2)
64 Laws of Malaysia ACT 453
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 ten years or to both.