Members

ACT 125

COMPANIES ACT 1965 (REVISED - 1973)

PART V - MANAGEMENT AND ADMINISTRATION

DIVISION 2 - DIRECTORS AND OFFICERS

Section 135. General duty to make disclosure.

(1) A director of a company shall give notice in writing to the company—

(a) of such particulars relating to shares, debentures, participatory interests, rights, options and contracts as are necessary for the purposes of compliance by the firstmentioned company with section 134;

(b) of particulars of any change in respect of the particulars referred to in paragraph (a) of which notice has been given to the company including the consideration, if any, received as a result of the event giving rise to the change;

(c) of such events and matters affecting or relating to himself as are necessary for the purposes of compliance by the company with the requirements of this Act; and

(d) if he is a director of a public company or of a subsidiary of a public company of the date on which he attains or will attain the age of seventy.

Penalty: Imprisonment for three years or fifteen thousand ringgit.

(2) A person required to give notice under subsection (1) shall give the notice—

(a) in the case of a notice under paragraph (1)(a), within fourteen days after—

(i) the coming into operation of this section;

(ii) the date on which the director became a director; or

(iii) the date on which the director acquired an interest in the shares, debentures, participatory interests, rights, options or contracts;

(b) in the case of a notice under paragraph (1)(b), within fourteen days after the occurrence of the event giving rise to the change referred to in that paragraph; and

(i) the coming into operation of this section; or

(ii) the date on which the director became a director.

(2A) [Deleted by Act A1299 : s.15]

(3) A company shall within seven days of receiving a notice given under subsection (1) send a copy of the notice to each of the other directors of the company.

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

(4) In this section a reference to a participatory interest is a reference to an interest within the meaning of section 84.

(5) In determining, for the purposes of this section, whether a person has an interest in a debenture or participatory interest section 6A, save for subsections (1) and (3) of that section, have effect and in applying those provisions a reference to a share shall be read as a reference to a debenture or participatory interest.