Malaysia legislation
Section 15
Section 15
Trustees to keep accounts and to render annual returns of accounts
(2)
The said trustees shall, on or before the 30th day of June in every year, or upon such other day as may be appointed for this purpose by the Minister, prepare and make out the following accounts in relation to the said body or association—
(a)
an account of the gross income arising from any endowment or which ought to have arisen therefrom during the year ending on the 31st day of December immediately preceding, or upon such other day as may have been appointed for this purpose by the Minister;
(b)
an account of all balances in hand at the commencement of the year and of all moneys received during the same year on account of the said body or association;
(c)
an account for the same period of all payments; and
(d)
an account of all moneys owing to or from the said body or association, so far as conveniently may be.
(3)
The accounts prescribed under subsection (2) shall be certified under the hand of one or more of the said trustees or of the said trustee and shall be audited by the auditor of the said body or association, if any, and the said trustees shall within fourteen days after the day appointed for making out the said accounts deliver or transmit a copy thereof to the Minister and every such copy shall be open to inspection of all persons at all reasonable hours, subject to such regulations as the Minister may see fit to make, and any person may require a copy of every such account, or of any part thereof, on paying therefor such fee as the Minister may prescribe.
12 Laws of Malaysia ACT 258
(4)
The said trustees shall, at the same time as the accounts prescribed under subsection (2) are delivered or transmitted to the
Minister in accordance with subsection (3) for the first time after the grant of a certificate of incorporation pursuant to this Act, transmit to the Minister an account of any endowments then belonging to the said body or association, showing in the case of immovable property not in hand the manner in which the same is let or occupied and in the case of movable property the existing investment or employment thereof and in what names such investments are made, and thereafter the said trustees shall, on every occasion upon which the said accounts are delivered or transmitted as aforesaid to the Minister after the acquisition of any endowment not included in the foregoing account, or after the alienation, charge or transfer of any movable or immovable property of the said body or association, transmit to the
Minister a similar account of such last-mentioned endowment and an account of such alienation, charge or transfer, as the case may be.
Petition to decide question whether person is a member of a body corporate