Malaysia legislation
Section 34
Section 34
(2)
Where it is not practicable, or it is otherwise not desirable, to effect removal of any movable property under subsection (1), the officer referred to in that subsection may leave it at the premises in which it is seized under the custody of such person as he may detail for the purpose.
(3)
Notwithstanding subsection (1), when any movable property, including any movable property referred to in subsection (6), has been seized under this Act, an officer of the Commission of the rank of Superintendent or above, other than the officer who effected the seizure, may at his discretion—
(a)
temporarily return the movable property to the owner thereof, or to the person from whose possession, custody or control it was seized, or to such person as may be entitled thereto, subject to such terms and conditions as may be imposed, and, subject, in any case, to sufficient security being furnished to ensure that the movable property shall be surrendered on the demand being made by the officer who authorized the release and that such terms and conditions, if any, shall be complied with; or
(b)
return the movable property to the owner thereof, or to the person from whose possession, custody or control it was seized, or to such person as may be entitled thereto, with liberty for the person to whom the movable property is so returned to dispose of the property, such return being subject to security being furnished in an
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amount not less than an amount which represents the open market value of such property on the date on which it is so returned.
(4)
Where any person to whom movable property is temporarily returned under paragraph (3)(a) fails to surrender such property on demand or comply with any term or condition imposed under that paragraph—
(a)
the security furnished in respect of such property shall be forfeited; and
(b)
that person commits an offence and shall on conviction be liable to a fine of not less than two times the amount of the security furnished by him, and to imprisonment for a term not exceeding two years.
(5)
Where an order of forfeiture is made by the court in respect of property returned under paragraph (3)(b), such forfeiture shall be effected by forfeiting the security furnished by the person to whom the property was returned.
(6)
When any movable property seized under this Act consists of money, shares, securities, stocks, debentures or any chose in action, in the possession or under the custody or control of any person other than the person against whom the prosecution is intended to be taken, the seizure shall be effected by an officer of the Commission of the rank of Assistant Superintendent or above serving an order on such person—
(a)
prohibiting him from using, transferring, or dealing with such property; or
(b)
requiring him to surrender the property to an officer of the Commission of the rank of Assistant Superintendent or above in the manner and within the time specified in the order.
(7)
Where any movable property seized is liable to speedy decay or deterioration, or is property which cannot be maintained without difficulty, or which is not practicable to be maintained, and which cannot be dealt with under subsection (3), an officer of the Commission of the rank of Superintendent or above may sell or cause to be sold the property and shall hold the proceeds
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of the sale, after deducting therefrom the costs and expenses of the maintenance and sale of the property, to abide the result of any proceedings under this Act.
Investigation of share, purchase account, etc.