Malaysia legislation
Section 5
Section 5
Section 6 of the principal Act is amended—
(a)
by renumbering the existing section as subsection (1);
and
(b)
by inserting after the renumbered subsection (1)
the following subsections:
“(2) Subject to subsection (1), the Minister may inspect or authorize any person to inspect a trustee if he is of the opinion that the property vested in the trustee is being misused.
(3)
If, as a result of the inspection carried out pursuant to subsection (2), the Minister finds that the property has been misused, or used in circumstances which are prejudicial to the interests of members of the body corporate in respect of which the trustee has been incorporated, he may—
(a)
suspend the trustee found in misuse of such property; and
(b)
refer the matter to law enforcement agencies for investigation.”.
Amendment of section 15