Malaysia legislation
Section 42
Section 42
the stamp Act 1949, which is referred to as the “principal
Act” in this chapter, is amended in section 8, by inserting after subsection (5) the following subsections:
“(6) the collector or any person authorized by him in writing may, at all reasonable times, inspect any books, records and documents kept by him in connection with the issue of such licence.
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(7)
for the purpose of subsection (6), the authorized person shall keep and retain the books, records and documents in connection with the issue of such licence for a period of seven years from the year in which such licence is issued.
(8)
Any authorized person who fails to comply with the conditions imposed in the licence under subsection (2) shall be liable to a fine of not less than four thousand ringgit and not more than ten thousand ringgit.”.
amendment of section 9