Bursa - Amendments to The Rules of Bursa Malaysia Depository Sdn Bhd

allowing a personal representative to request from an Authorised Depository Agent (“ADA”) the balance status of a deceased depositor’s securities account, to facilitate the transfer of the ToT process to ADAs;

b.

imposing a new obligation on an ADA to update particulars of its clients, who are depositors with Bursa Depository, requiring a depositor to notify Bursa Depository when there is a change of his particulars, empowering Bursa Depository to request for information or details on depositors, and requiring details of beneficial owners to be included in the securities accounts of depositors in line with the REIS initiative;

c.

removing prescriptive requirements from the Depository Rules and facilitating greater operational efficiency, including removing bank guarantee as a mode of security for payment of Record of Depositor fees, removing requirement on triplicate copies, submission to be made via facsimile and requirements that prescribe submission of prescribed forms and hard copy;

d.

promoting transparency on the regulatory framework applicable to ADAs and Authorised Direct Members (“ADM”) in relation to the process of cessation as an ADA or ADM, the applicable governing law and impact of partial invalidity of provisions in the Depository Rules;/p>

e.

updating or clarifying terminology and references, and removing obsolete and redundant terms or requirements arising from changes in the laws, e.g. Securities Industry (Central Depositories) Act 1991, Financial Services Act 2013, and Islamic Financial Services Act 2013; and

f.

removing redundant requirements and simplifying the Depository Rules, where appropriate, by using plain language for better understanding of the rules.