Section 142. Notice to non-residents

(1) A person who holds voting shares in a company, being voting shares in which a non-resident has an interest shall—

(a) give a notice to the non-resident in the form and manner as determined by the Registrar; or

(b) if the person knows or has reasonable grounds for believing that an interest of the non-resident in the shares is an interest that the non-resident holds for another person—

(i) give a notice to the non-resident in a form and manner as determined by the Registrar; and

(ii) direct the non-resident to give the notice or a copy of the notice to that other person.

(2) The notice shall be given by the person within fourteen days from becoming the holder of the voting shares.

(3) In this section, “non-resident” means a person who is not a resident in Malaysia or a body corporate that is not incorporated in Malaysia.

(4) Any person 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.