How does Bursa Malaysia ensure that Directors of PLC are being penalise fairly?
i. Firstly, enforcement action against directors are taken on directors who have blatantly disregarded compliance with the Listing Requirements(LRs). This needs to be established through various enquiries and investigation and once this has been established, the nature of the breach must also be taken into consideration in determining whether to proceed with director enforcement. Nature of the breach would involve materiality of the transaction/event, whether it is a related party transaction and whther the breach is capable of rectification. ii. Once a prima facie case is established against the director, a notice to show cause will be issued whereby he will given a specific time to make representation in writing as to why Bursa should not find him in breach of the LR for causing, aiding and/or abetting the Company and/or for permitting knowingly the Company to breach the LR.
