ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART IV - SHARES, DEBENTURES AND CHARGES
DIVISION 3 - SHARES

 
Section 68A. Register of options to take up unissued shares.
 
Section 68A. Register of options to take up unissued shares. (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) (1) A company shall keep a register of options granted to persons to take up unissued shares in the company.

(2) The company shall, within fourteen days after the grant of an option to take up unissued shares in the company, enter in the register the following particulars—

    (a) the name, address and the number of the identity card issued under the National Registration Act 1959 [Act 78], or the passport number or other identification number, and the nationality of the holder of the option;

    (b) the date on which the option was granted;

    (c) the number and description of the shares in respect of which the option was granted;

    (d) the period during which, the time at which or the occurrence upon the happening of which the option may be exercised;

    (e) the consideration, if any, for the grant of the option;

    (f) the consideration, if any, for the exercise of the option or the manner in which that consideration is to be ascertained or determined; and

    (g) such other particulars as may be prescribed.

(3) Division 4 of Part V shall apply to a register kept under this section as if the register was the register of members.

(4) A company shall keep at the place where the register under this section is kept a copy of every instrument by which an option to take up unissued shares in the company is granted, and for the purposes of subsection (3) those copies shall be deemed to be part of the register.

(5) Failure by the company to comply with any provision in this section shall not affect any rights in respect of the option.

(6) If default is made in complying with this section, the company and any officer of the company who is in default shall be guilty of an offence against this Act.

Penalty: One hundred thousand ringgit. Default penalty: Ten thousand ringgit.