Section 29. New sections 139A, 139B, 139C and 139D.
The principal Act is amended by inserting, immediately after section 139, the following new sections 139A, 139B, 139C and 139D:
"Qualification for company secretary.
139A. No person shall act as a secretary of a company unless-
(a) he is a member of a professional body, or any other body, which has for the time being been prescribed by the Minister by notification published in the Gazette; or
(b) he is licensed by the Registrar for that purpose:
Provided that a person who is a secretary of the company before the coming into operation of this section and who is not a member of a professional or other body as prescribed by the Minister may continue to act as the secretary for than company for a period of not more than twelve months after the coming into operation of this section unless he has obtained a licence pursuant to paragraph (b).
Licence to act as company secretary.
139B. (1) For the purpose of section 139A(b), an application for a licence shall be made to the Registrar in the prescribed form and manner.
(2) The Registrar may require an applicant to supply him with such further information as he considers necessary in relation to the application.
(3) The Registrar shall only grant or renew the licence if-
(a) after consideration of the character, qualification and experience of the applicant; and
(b) after consideration of the interest of the public,
he is of the opinion that the applicant is a fit and proper person to hold a licence.
(4) Every licence granted under this section, including a renewal of the licence, shall be in force for a period of three years after the date of the issue thereof, unless sooner revoked by the Registrar.
(5) An application for renewal of a licence shall be made not later than thirty days before the expiry of the licence.
(6) Notwithstanding subsection (5), where an application for the renewal of a licence is made less than thirty days but before the expiry date of the licence, the Registrar may for any special reasons he deems fit accept such application for consideration.
Disqualification.
139C. (1) A person shall be disqualified to act as a secretary if-
(a) he is an undischarged bankrupt;
(b) he is convicted whether within or without Malaysia of any offence mentioned in subsection (1) of section 130;
(c) he ceases to be a member of the body prescribed by the Minister under section 139A; or
(d) he ceases to be a holder of a valid licence issued under section 139B.
(2) Notwithstanding subsection (1), the Registrar may require a person to show cause why his licence issued under section 139B should not be revoked or why he should not be disqualified from acting as a secretary of a company, if he is of the opinion that that person has failed to act honestly or has failed to use reasonable diligence in the discharge of his duties as a secretary.
(3) If a person continues to act as a secretary for a company after he is so disqualified under this section without leave of the Court, he and every director who knowingly permits him to act in that capacity shall be guilty of an offence.
Appeal.
139D. (1) A person who is aggrieved by any decision of the Registrar under sections 139B and 139C may appeal to the Minister within thirty days of the decision of the Registrar.
(2) In any appeal under this section, the decision of the Minister shall be final and shall be given effect to by the Registrar.".