1. For the purpose of this ECM Notice, transfer includes buying or selling.
2. The Controller has prescribed through the Exchange Control(Deposit of Securities) Order, 1973 all securities, other than Specified Securities, as exempt from sections 18 and 19 of the Act.
3. The Controller hereby exempts all persons from the provisions of sections 16 and 17 of the Act.
4. The Controller hereby gives permission -
4.1 To any person in Malaysia to issue to non-residents, ordinary shares, irredeemable preference shares, bonus and rights shares which are registered or to be registered in Malaysia.
4.2 To a non-resident or his nominee to subscribe to the memorandum of association of a company formed under the Companies Act, 1965.
4.3 To Offshore Companies, Foreign Offshore Companies, Licensed Offshore Banks, Licensed Offshore Insurance Entities and Approved Operational Headquarters to issue to any non-resident, bonds, notes, bearer certificates or coupons which are denominated in a foreign currency, whether to be registered in Malaysia or outside Malaysia.
4.4 For the transfer of any security, bearer certificate or coupon registered in Malaysia between a resident and a non-resident.
4.5 For the transfer of any security, bearer certificate or coupon registered outside Malaysia-
4.5.1 From a resident to a non-resident;
4.5.2 Between residents; or
4.5.3 From a non-resident to a resident, subject to paragraph 5.2.
5. The Prior permission of the Controller is required for a resident to -
5.1 Issue securities, bearer certificates and coupons to a non-resident other than those permitted in paragraph 4.1 and 4.2; or
5.2 Purchase from non-resident securities, bearer certificates or coupons registered outside Malaysia, or swap for these with securities, bearer certificates or coupons registered in Malaysia, if the resident has domestic credit facilities.
6. The Controller has removed through the Exchange Control(Import and Export)(General)Order 1982 all restrictions on the importation or exportation of any certificate of title to any security.
7. An authorised dealer is required to submit completed Forms P and Forms R to the Controller for payments and receipts exceeding RM50,000 each or its equivalent in foreign currency vis-a-vis a non-resident in the issuance or transfer of any security, bearer certificate or coupon.
8. The authorised dealer shall refer to the manual Cash Balance of Payments Reporting System: Instructions to Authorised Banksﾓ dated January 1,1991 on the proper completion of Form P and R.