Malaysia legislation
Section 60
Section 60
(2)
Every application under subsection (1) shall state----
(a)
the particulars of the circumstances in respect of which the dealer is alleged to have failed to account;
(b)
the particulars of the moneys and the dealings in futures contracts in respect of which the failure has occurred; and e that an or rules or that a itions of it is in e general editor tolation to d records ion that ses of an 1) should by order amount, expenses, an order the order missioner g from a count to 1, or any for him after first planation examine to any cords of
(1)
shall n respect failed to dealings which the
(c)
such other particulars as the Commissioner may require.
(3)
The statements in an application under subsection (1) shall be verified by a statutory declaration made by the applicant and shall, if made in good faith and without malice, be privileged.
(4)
The Commissioner shall not appoint an auditor under subsection (1) unless he is satisfied that-
(a)
the applicant has good reason for making the application; and
(b)
it is in the interests of the dealer, applicant or general public that the books, accounts and records of the dealer should be examined, audited and reported on.
(5)
Where the Commissioner is of the opinion that the whole or any part of the costs and expenses of an auditor appointed by him under subsection (1) should be borne by the dealer or applicant, the Commissioner may, by order in writing, direct the dealer or applicant to pay a specified amount, being the whole or part of such costs and expenses, within the time and in the manner specified.
(6)
Where a dealer or applicant fails to comply with an order under subsection (5), the amount specified in the order may be sued for and recovered by the Commissioner as a debt in a court.