Malaysia legislation
Section 106F
Section 106F
(a)
an order requiring the person to pay an amount which shall not exceed three times—
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(i)
the gross amount of pecuniary gain made or loss avoided by such person as a result of the contravention, breach or non-compliance; or
(ii)
the amount of money which is the subject matter of the contravention, breach or non-compliance, as the case may be;
(b)
an order requiring the person to pay a civil penalty in such amount as the court considers appropriate having regard to the severity or gravity of the contravention, breach or non-compliance, but in any event not exceeding twenty-five million ringgit;
(c)
an order—
(i)
restraining the person from engaging in any specific conduct; or
(ii)
requiring the cessation of the contravention, breach or non-compliance;
(d)
an order directing a person to do a certain act;
(e)
an order directing the person or any other person who appears to have been involved in the contravention, breach or non-compliance to take such steps as the court may direct to mitigate the effect of such contravention, breach or non-compliance;
(f)
an order directing the prescribed institution to remedy the contravention, breach or non-compliance including making restitution to any other person aggrieved by such contravention, breach or non-compliance;
(g)
where a person has refused or failed to comply with any action taken by the Bank under subsection 106A(3), an
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order directing the person to comply with such action that is taken by the Bank; and
(h)
any other order deemed appropriate by the court including any ancillary order deemed desirable in consequence of the making of an order under any provision in this subsection.
(2)
The court may make an order under subsection (1) against a person—
(a)
who is the director, controller, officer or partner of a body corporate or unincorporate, or was purporting to act in any such capacity; or
(b)
who is concerned in the management of the affairs of a body corporate or unincorporate, in the event where the contravention, breach or non-compliance has been committed by the body corporate or unincorporated unless that person proves that the contravention, breach or non-compliance was committed without his consent or connivance and that he exercised such diligence to prevent the commission of the contravention, breach or non-compliance as he ought to have exercised, having regard to the nature of his function in that capacity and to the circumstances.
(3)
If a contravention, breach or non-compliance is committed by a person—
(a)
who is a director, controller, officer or partner of a body corporate or unincorporate, or was purporting to act in any such capacity; or
(b)
who is concerned in the management of the affairs of a body corporate or unincorporate, an order under subsection (1) can be made against the body corporate or unincorporate.
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(4)
Any sum ordered by the court under subsection (1), shall be applied—
(a)
firstly, to reimburse the Bank for all costs of the proceedings in respect of the contravention, breach or non-compliance; and
(b)
secondly, to pay persons aggrieved by the contravention, breach or non-compliance in the case of an order under paragraph (1)(f); or
(c)
thirdly, to pay into and form part of the Federal
Consolidated Fund unless the court orders for such sums or part of the sum to be used to compensate persons who have suffered loss as a result of the contravention, breach or non-compliance.
(5)
If the prescribed institution considers that it is not practicable to provide a remedy to the persons referred to in paragraph (1)(f) in view of the amount of any potential distribution to each person or the difficulty of ascertaining or notifying the person whom it is appropriate to provide a remedy, the prescribed institution shall lodge such amount with the Registrar of Unclaimed Moneys in accordance with the provisions of the Unclaimed Moneys Act 1965.
(6)
The court may revoke or vary an order made by it under this section or suspend the operation of such an order.
(7)
The powers conferred on the court under this section are in addition to any of its other powers, and do not derogate from its other powers provided under any other written law.
(8)
Applications referred to in subsection (1) may be made at any time within six years from the date on which the Bank discovered the contravention, breach or non-compliance.
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Civil action to seek compensation