Malaysia legislation
Section 46
Section 46
(2)
No member of the Board of a registered society appointed to represent such registered society on the board of directors of any of its subsidiaries shall receive or accept any remuneration from such subsidiary without the prior approval of the general meeting of such registered society.
(3)
In this section, "allowance" means the remuneration paid to a member of the Board of a registered society or a member of the Internal Audit Committee of a registered society in consideration of his services rendered to the society on a regular basis.