Malaysia legislation
Section 4
Section 4
Application 44a. (1) This Part shall apply to an express trust—
The principal Act is amended by inserting after section 66
the following sections:
“Regulations 66a. (1) The Minister may make regulations as may be expedient or necessary for the purpose of carrying out or giving effect to the provisions of this Act.
(2)
Without prejudice to the generality of subsection (1), the Minister may make regulations to prescribe—
(a)
all matters relating to beneficial ownership information;
(b)
the offences which may be compounded and the forms to be used and the method and procedure for compounding the offences under this Act; and
(c)
any other matters required by this Act to be prescribed.
Compounding of offences 66 b. (1) The Minister may, with the approval of the Public Prosecutor, make regulations prescribing—
(a)
any offence under this Act as an offence which may be compounded; and
(b)
the method and procedure for compounding such offence.
(2)
The Minister may, with the consent in writing of the Public Prosecutor, compound any offence committed by any person under this Act prescribed to be a compoundable offence by making a written offer to the person suspected to have committed the offence to compound the offence upon payment to the Registrar appointed under subsection 20(1)
of the Trustees (Incorporation) Act 1952 [Act 258] of an amount of money not exceeding fifty per centum of the amount of maximum fine for that offence within such time as may be specified in his written offer.
(3)
An offer under subsection (2) may be made at any time after the offence has been committed but before any prosecution for it has been instituted.
(4)
If the amount specified in the offer is not paid within the time specified in the offer, or such extended time as the Minister may grant, prosecution for the offence may be instituted at any time after that against the person to whom the offer was made.
(5)
Where an offence has been compounded under subsection (2), no prosecution shall after that be instituted in respect of the offence against the person to whom the offer to compound was made.
(6)
All sums of money received by the Minister under this section shall be paid into and form part of the Federal
Consolidated Fund.”.