Malaysia legislation
Section 11
Section 11
(2)
The Board shall consist of the following directors:
(a)
a Chairman appointed by the Minister who shall have relevant private sector experience;
(b)
the Governor;
(c)
the Secretary General of the Treasury;
(d)
two directors appointed by the Minister, one of whom shall be from the public sector and the other may be either from the public sector or one who has public sector experience;
and
(e)
not more than four other directors appointed by the
Minister, who shall have relevant private sector experience and at least one of whom shall have relevant banking and financial sector experience.
(2A)
The Minister, in appointing the directors under paragraphs 2(d)
and (e), shall have regard to—
(a)
diversity of the board of directors in terms of interest, knowledge, skill and experience;
(b)
the person’s probity and standing; and
(c)
the person’s knowledge, skill and experience in banking, insurance, economics or in any other relevant discipline, which will enable him to discharge his functions as a director.
(2B)
Each director referred to in paragraph (2)(b) or (c) may assign in writing a position within his organization as the alternate director who shall attend meetings of the Board in place of the director when the director is for any reason unable to attend.
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(2C)
For the avoidance of doubt, for the purposes of subsection 15(9) of the Central Bank of Malaysia Act 2009 [Act 701], the position of the Deputy Governor of Bank Negara Malaysia may be assigned as the alternate director under subsection (2B).
(2D)
When attending meetings of the Board in place of the directors referred to in paragraph (2)(b) or (c), the alternate directors shall for all purposes be deemed to be directors of the Board.
(3)
Without prejudice to subsection 18(2), none of the directors referred to in paragraph (2)(b), (c) or (d) shall be eligible to be appointed Chairman by the Minister.
Board may make by-laws