Section 138. Substantial shareholder to notify company of change in his interests

(1) A substantial shareholder shall give notice to the company in writing if there is a change of his interest in voting shares in the company—

(a) in the case of a company whose shares are quoted on a stock exchange, within three days after the date of the change; or

(b) in any other case, within five days after the date of the change.

(2) The notice under subsection (1) shall contain—

(a) the name and full particulars of the substantial shareholder; and

(b) the date and circumstances by reason of which that change has occurred.

(3) For the purposes of subsection (1), where a substantial shareholder in a company acquires or disposes of voting shares in the company, the acquisition or disposal shall be deemed to be a change in the interest of the substantial shareholder in voting shares in the company.

(4) Any substantial shareholder who contravenes this section commits an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit and, in the case of a continuing offence, to a further fine not exceeding one thousand ringgit for each day during which the offence continues after conviction.