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mylaw.myby aturio
In forceUpdated to 2 Jan 2025Read it in Bahasa Malaysia
Contents

Part XII · Examination

159. Duty to provide access to, and produce documents, information, etc.

(1)

For the purposes of an examination under section 158, a person under examination and its director, officer or controller—

(a)

shall afford the Bank access to its documents, including documents of title to its assets, all securities held by it in respect of its customers’ transactions and investments held by it, cash, premises, apparatus, equipment or machinery, and produce to the Bank all such documents or cash, as the

Bank may require within such time as it may specify;

(b)

shall allow the Bank to copy or make extracts of any document referred to in paragraph (a); and

(c)

shall give to the Bank, orally or in writing, all such information and explanation relating to its business and affairs or of its agent as the Bank may require within such time as it may specify.

Islamic Financial Services 155

(2)

The Bank may take possession of any documents, titles, securities, cash, apparatus, equipment or machinery to which it has access under subsection (1), if the Bank is of the opinion that the documents, titles, securities, cash, apparatus, equipment or machinery may be—

(a)

interfered with, destroyed, concealed or removed unless the

Bank takes possession of them; or

(b)

needed as evidence in any legal proceedings, whether civil or criminal, which may be instituted under this Act, the

Central Bank of Malaysia Act 2009 or any other written law.

(3)

Any person who contravenes subsection (1) or refuses to allow the Bank to take possession of the documents, titles, securities, cash, apparatus, equipment or machinery under subsection (2), commits an offence and shall, on conviction, be liable to imprisonment for a term not exceeding eight years or to a fine not exceeding twenty-five million ringgit or to both.

Report

Read on from s 160

Part XIII

Directions of Compliance

Read on from Part XIII

Part XIV

Intervention and Remedial Action

Read on from Part XIV

Part XV

Other Powers of Bank

Read on from Part XV

Part XVI

Enforcement and Penalties

Read on from Part XVI

Part XVII

General Provisions

Read on from Part XVII

Part XVIII

Repeal, Savings and Transitional

Read on from Part XVIII

Schedules