5 Jan 2022
BURSA MALAYSIA SECURITIES BERHAD MOHD AFRIZAN BIN HUSAIN
- Citation
- 02(f)-39-07/2021(W) (Mahkamah Persekutuan)
- Court
- f
- Case number
- 02(f)-39-07/2021(W) (Mahkamah Persekutuan)
The word 'shall' in Rule 16.11(2) AMLR is to be construed directory, not as imposing an absolute immediate mandatory duty to de-list upon a winding up order; Bursa may decide if and when to de-list after evaluating circumstances consistent with its statutory duties under the CMSA and may waive or modify rules; a liquidator of a listed company remains bound to comply with AMLR and any undertaking he gave; directors cannot unilaterally ensure compliance once control has passed to the liquidator.