Court of Appeal Reverses Stay Order Made Against SC

21 February 2022 - On 19 January 2022, the Court of Appeal in Suruhanjaya Sekuriti Malaysia lwn Mohd Afrizan Husain [2022 1 LNS(O) 1 [CA] allowed the Securities Commission Malaysia's appeal and set aside the High Court's stay Order.

The High Court decision is reported at Mohd Afrizan Husain v Suruhanjaya Sekuriti Malaysia [2022] 1 LNS 14 where the High Court granted a stay of execution of its earlier Order dismissing the Applicant's judicial review application. In essence, it was a stay of a "no-order".

The Court of Appeal ruled that the High Court had erred in making such a stay order. The Court of Appeal has yet to issue any grounds of judgment yet.

Lee Shih and Joyce Lim acted for the Securities Commission Malaysia in these appeal proceedings.