Malaysia legislation
Section 7
Section 7
Section 31o of the principal Act is amended by inserting after subsection (4) the following subsections:
“(4a) An auditor registered or recognised under this Part shall pay such prescribed fee on a yearly basis and on such date as the Commission may specify.
(4b)
Where a registered or a recognised auditor fails to pay the prescribed fee by the date on which such fee is due, the Commission may impose a late payment fee of a prescribed amount for every day that the payment is late, and such fees shall be recoverable by the Commission as a debt due to the Commission.”.
Amendment of section 31q