Malaysia legislation
Section 6
Section 6
Minister may establish advisory committees
(a)
to advise the central depository on matters relating to the services provided by such depository;
(b)
to make recommendations or proposals for improving the efficiency of the central depository; and
(c)
to perform such other functions as may be prescribed by the Minister by regulations made under this Act.
(2)
An advisory committee established under subsection (1) shall consist of the following members who shall be appointed by the
Minister:
(a)
a Chairman;
(b)
a Deputy Chairman;
(c)
a representative each from—
(i)
the Commission;
*NOTE—This Act has since been repealed by Capital Market and Services Act 2007 [Act 671]
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) Act 671, P.U. (B) 342/2007 and P.U. (B)
143/2010.
26 Laws of Malaysia ACT 453
(ii)
the Minister of Trade and Industry;
(iii)
the Central Bank of Malaysia;
(iv)
a stock exchange; and
(v)
the central depository;
(d)
not less than six but not more than eight other members who have had experience of and have shown capacity in, matters relating to the capital market, finance or investment.
(3)
The Minister may appoint a person to be a temporary member of the committee during the temporary incapacity through illness, or during the temporary absence from Malaysia, of any member.
(4)
A member of the committee shall hold office for two years and shall be eligible for re-appointment.
(5)
The appointment of a member may be revoked by the
Minister at any time without assigning any reason therefore.
(6)
A member may at any time resign his office by letter addressed to the Minister.
Commission to approve amendment to rules of central depository