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(1) A public company which—
(a) has more than five hundred members; and
(b) provides reasonable accommodation and facilities for persons to inspect and take copies of its list of members and its particulars of shares transferred,
need not comply with such of the provisions of this Division and the Eighth Schedule as relate to the inclusion in the annual return of a list of members if there is included in the annual return—
(A) a certificate by the secretary that the company is of a kind to which this subsection applies; and
(B) a list showing the prescribed particulars of the twenty largest holders of each class of equity shares.
(2) The Minister may, by notice published in the Gazette require any company to which subsection (1) applies to comply with all or any of the provisions of this Division or of the Eighth Schedule referred to in subsection (1).
(3) If default is made in complying with the notice given under subsection (2), the company and every officer of the company who is in default shall be guilty of an offence against this Act. Penalty: *Two thousand ringgit. Default penalty.
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