50. Right of access and production of property, etc.

(1)

For the purposes of an examination under section 48 or 49, a licensee or money services business agent, and its directors, chief executive officers and employees, as the case may be, shall, when under examination—

(a)

allow access to all property, apparatus, equipment, machinery, computer, computer output, systems including remittance system, documents or information;

(b)

produce all such property, apparatus, equipment, machinery, computer, computer output, systems, documents or information; or

(c)

provide the necessary password, encryption code, decryption code, software or hardware or any other means required to access and enable comprehension of any computer output, to an examiner for purposes of the examination within such time and manner as the examiner may require.

(2)

Notwithstanding the generality of subsection (1), the examiner under subsection (1) may take possession of any property, apparatus, equipment, machinery, computer, computer output, systems, documents or information to which he is given access under subsection (1) where in his opinion—

(a)

it is necessary for the purpose of inspection, including copying or making an extract;

(b)

it may be interfered with, destroyed, concealed or removed unless he takes possession of it; or

(c)

it may be 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.

Money Services Business 53

(3)

Any person who contravenes subsection (1) commits an offence.

Report

Read on from s 51

Part VII

Investigation and Enforcement

Read on from Part VII

Part VIII

Other Powers of the Bank

Read on from Part VIII

Part IX

Miscellaneous

Read on from Part IX

Part X

Repeal, Savings and Transitional

Read on from Part X