Section 134. Power to call for examination. (SECURITIES COMMISSION ACT 1993

ACT 498
SECURITIES COMMISSION ACT 1993

PART V - ENFORCEMENT AND INVESTIGATION

Section 134. Power to call for examination.

[Am. Act A1074:s.19]

(1) If an Investigating Officer of the Commission carrying out an investigation under any securities law suspects or believes on reasonable grounds that any person can give information relevant to a matter that he is investigating, the Investigating Officer of the Commission may by notice in writing to such person require such person -

(a)

to give to the Investigating Officer of the Commission all reasonable assistance in connection with the investigation; and

(b)

to appear before a specified Investigating Officer of the Commission or specified Investigating Officers of the Commission to be examined orally.

[Subs.. Act A1041:s.7]

(1A) An Investigating Officer of the Commission exercising his authority under paragraph (1)(b) shall reduce into writing any statement made by the person examined under subsection (1).

[Ins.. Act A1041:s.7]

(2) A person referred to in subsection (1) shall be legally bound to answer all questions relating to such case put to him by the Investigating Officer of the Commission and to state the truth, whether or not the statement is made wholly or partly in answer to questions, and shall not refuse to answer any question on the ground that it tends to incriminate him.

[Am. Act A1074:s.19]

(3) A statement made by any person under this section shall be taken down in writing and signed by the person making it or affixed with his thumb print, as the case may be, after it has been read to him and after he had been given an opportunity to make any correction he may wish:

Provided that, where the person examined refuses to sign or affix his thumb print on the statement, the Investigating Officer of the Commission shall endorse thereon under his hand the fact of such refusal and the reason therefor, if any, stated by the person examined.

(3A) In an examination of a person under subsection (1) , an Investigating Officer of the Commission or Investigating Officers of the Commission examining the person may give directions about who may be present during the examination, or during any part of it.

[Ins.. Act A1041:s.7,
Subs Act A1074:s.19]

(4) Any statement made and recorded under this section shall be admissible as evidence in any proceeding in any Court.

(5) Any person who-

(a)

fails to appear before an Investigating Officer of the Commission as required under subsection (1);

(b)

refuses to answer any question put to him by an Investigating Officer of the Commission as required under subsection (2) or neglects to give any information which may reasonably be required of him and which he has in his power to give ; or

[Am Act A1074:s.19]

(c)

knowingly furnishes to an Investigating Officer of the Commission information or statement that is false or misleading in any material particular,

shall be guilty of an offence and shall on conviction be punished with a fine not exceeding one million ringgit or imprisonment for a term not exceeding five years or both.

[Am. Act A1041:s.7,
Am Act A1074:s.19]

(6) For the purposes of this section and any other provision of Part V, any notice that is given shall, if practicable, be served personally on the person specified in such notice.

[Ins. Act A1074:s.19]

(7) In the case of a corporation, the notice may be served on the secretary or other like officer of the corporation or on any person who is responsible for the management of the affairs of the corporation.

[Ins. Act A1074:s.19]

(8) Where the person specified in a notice given under this section or any other provision of Part V cannot by the exercise of due diligence be found, the notice may be served by leaving a copy thereof for him with some adult member of his family or with his servant residing with him.

[Ins. Act A1074:s.19]

(9) When the person specified in any notice given under this section or any other provision of Part V cannot by the exercise of due diligence be found, and service cannot be effected as directed by subsection (8), a copy of the notice shall be affixed to some conspicuous part of the house or such other place in which the person specified in the notice ordinarily resides, and in such case the notice shall be deemed to have been duly served.

[Ins. Act A1074:s.19]

(10) If upon an investigation made under this Act it appears to the Investigating Officer of the Commission that there is sufficient evidence or reasonable ground of suspicion to justify the commencement or continuance of any proceedings against any person, the Investigating Officer of the Commission shall require the complainant, if any, and so many of the persons who appear to such Investigating Officer of the Commission to be acquainted with the circumstances of the case as he thinks necessary, to execute a bond to appear before any Court therein named and to give evidence in such proceedings.

[Ins. Act A1074:s.19]

(11) If any complainant or person referred to in subsection (10) refuses to execute a bond under that subsection, the Investigating Officer of the Commission shall report such refusal to the Court which may thereupon in its discretion issue a warrant or summons to secure the attendance of such complainant or person before itself to give evidence in the proceedings concerned.

[Ins. Act A1074:s.19]