Security Industry (Central Depositories) Act 1991 (Act 453) & Regulations (Together With Malay Version)(10.1.2005)
Security Industry (Central Depositories)
Act 1991 (Act 453) & Regulations
(Together With Malay Version)
As Of 10.1.2005
Detailed Contents of Security Industry (Central Depositories) Act 1991 (Act 453):
The Security Industry (Central Depositories) Act 1991 (Act 453) is a Malaysian law that regulates the operations of central depositories for securities. The central depositories are entities that facilitate the transfer of ownership of securities, such as stocks and bonds, without the need for physical delivery of certificates.
The Act provides for the establishment and regulation of central depositories, and for the protection of securities held in them. It also sets out the rights and obligations of issuers of securities, depository agents, and depositors.
The Act is supported by regulations that provide more detailed guidance on its implementation. The regulations cover a range of issues, including the registration and licensing of depository agents, the procedures for depositing and withdrawing securities, the protection of confidential information, and the imposition of penalties for non-compliance.
The Act and its regulations also establish the Central Depository System (CDS), which is the electronic system used for the transfer and settlement of securities in Malaysia. The CDS is managed by a central depository, currently operated by Bursa Malaysia Depository Sdn Bhd, a subsidiary of Bursa Malaysia Berhad.
The Act and its regulations are available in both English and Malay versions, and have been updated periodically to reflect changes in the securities industry and to improve investor protection. They are enforced by the Securities Commission Malaysia, which is the regulator for the Malaysian capital market.
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