Malaysia legislation
Section 6
Section 6
Section 15 of the principal Act is amended by inserting after subsection (4) the following subsections:
“(5) Without prejudice to the provisions of subsections (1)
and (2), the Minister may at any time by a notice in writing, order any trustee, to permit its accounts to be inspected by any relevant authority authorized by the Minister.
(6)
Any trustee who fails to comply with the order made under subsection (5)—
(a)
shall have its certificate of incorporation revoked under section 17; and
(b)
shall not be entitled to reapply for a certificate of incorporation under this Act for a period of five years.
(7)
Any trustee who contravenes subsection (3) or (4)
commits an offence and shall, on conviction, be liable to a fine not exceeding fifteen thousand ringgit.”.
New section 15a