Regulatory Alerts2002-06-04
Securities Commission (Non-Application of the Definition of Debenture) Order 2001
The Minister of Finance, acting on the recommendation of the Securities Commission, issued this Order to exclude Negotiable Certificates of Deposit from the statutory definition of debenture under the Securities Commission Act 1993. This exemption applies provided that proceeds are used for purposes specified in the Commission’s Guidelines for Private Debt Securities, issuers are eligible licensed institutions complying with Central Bank of Malaysia guidelines, and the maximum tenure does not exceed five years. The Order was made on 19 July 2001 and deemed to have come into operation on 1 July 2000.
Share