Cash Companies
8.9
​Once a Cash Company submits its proposal to acquire a new core business to the SC for approval within 12 months from the date it is considered as a Cash Company by Bursa Securities, is there any timeframe for the Cash Company to procure the SC's approval?
​No, the Main LR does not prescribe the timeframe by which a Cash Company must procure the SC's approval for the proposal. However, a Cash Company is expected to take all reasonable steps to procure the SC's approval expeditiously. Since the Cash Company has submitted its proposal to the SC for approval, Bursa Securities will await the outcome of the Cash Company's application to the SC.