Suspension of trading imposed by Bursa Securities
16.1
In relation to a voluntary winding-up of a listed issuer, when would Bursa Securities suspend the trading of its listed securities?
Pursuant to paragraph 16.02(1)(i) of the Main LR, Bursa Securities may suspend the trading of a listed issuer’s listed securities upon the commencement of a voluntary winding-up in accordance with the Companies Act 1965. Pursuant to section 255(6) of the Companies Act, 1965, a voluntary winding-up commences –
(a)
where a provisional liquidator has been appointed before the resolution for voluntary winding-up was passed, at the time when the declaration referred to in section 255(1) of the Companies Act, was lodged with the Registrar of Companies; or
(b)
at the time of the passing of the resolution for voluntary winding-up,
as the case may be.