Section 3

in subsection (1)—

by inserting after the definition of “related” the following definition:

‘ “books” includes any register or other record of information and any accounts or accounting records, however compiled, recorded or stored;’;

any right, interest, title, claim, chose in action, power or privilege, whether present or future, or whether vested or contingent, in relation to any property, or which is otherwise of value;

any conveyance executed for conveying, assigning, appointing, surrendering, or otherwise transferring or disposing of immovable property of which the

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person executing the conveyance is the proprietor or has possession or in which he is entitled to a contingent right, either for the whole interest or for any less interest;

any security, including any stock, share, debenture and fund;

any negotiable instrument, including any bank note, bearer note, Treasury bill, dividend warrant, bill of exchange, promissory note, cheque and negotiable certificate of deposit;

or

any mortgage or charge, whether legal or equitable, guarantee, lien or pledge, whether actual or constructive, letter of hypothecation, trust receipt, indemnity, undertaking or other means of securing payment or discharge of a debt or liability, whether present or future, or whether vested or contingent;’;

by inserting after the definition of “prescribed institution” the following definition:

‘ “Shariah committee” means the Shariah committee established under section 33f;’;

an advance, loan or other facility, in whatever form or by whatever name called, by which the customer has access, directly or indirectly, to the funds of the prescribed institution and includes a financing facility which is made in accordance with Shariah;

and

the giving of a guarantee, credit insurance or takaful cover in relation to a financing facility;’;

produced by a computer;

displayed on the screen of a computer;

or

accurately translated from a statement or representation so produced;’;

by inserting after the definition of “officer” the following definition:

‘ “senior officer”, in relation to a prescribed institution, means a person, other than the Chief

Executive Officer or a director, having authority

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and responsibility for planning, directing or controlling the activities of a prescribed institution including the chief operating officer, members of decision-making committees and other persons performing key functions such as risk management, compliance, internal audit or other functions as may be specified by the

Bank under section 41, but shall not include a member of a Shariah committee;’;

by deleting the word “or” at the end of paragraph (b);

by substituting for the comma at the end of paragraph (c) the words “; or”; and

by inserting after paragraph (c) the following paragraph:

“(d) in accordance with whose directions, instructions or wishes the directors, chief executive officer or senior officers of the institution are accustomed or under obligation, whether formal or informal, to act,”;

the spouse of the individual;

the brother or sister of the individual, or of the spouse of the individual;

any lineal ascendant or descendant of the individual, or of the spouse of the individual;

the spouse of any individual referred to in paragraph (b) or (c);

any lineal descendant of an individual referred to in paragraph (b) or (d);

any uncle, aunt or cousin of the individual, or of the spouse of the individual; or

any spouse, or any lineal ascendant or descendant, of an individual referred to in paragraph (f);’;

by inserting after subsection (1) the following subsection:

“(1a)  For the purpose of the definition of “relative”

in subsection (1)—

the adoption of any person by another under any written law of Malaysia or any country, territory or place outside Malaysia, or under any custom recognized by any class of persons

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in Malaysia or in any country, territory or place outside Malaysia, shall be treated as creating between the adopter and the adopted person the same natural relationship as the adoptive relationship, and other relationships in relation to it shall be determined accordingly;

and

references therein to a relationship include, where relevant, a relationship by half-blood.”;

in subsection (2)—

in paragraph (a)—

by substituting for the words “have entered into an agreement or arrangement” the words

“, pursuant to an agreement, arrangement or understanding, co-operate”; and

by deleting the words “by means of interests in shares of that corporation already held by them jointly or severally”; and

by deleting the word “or” at the end of subparagraph (iv);

in subparagraph (v), by substituting for the full stop at the end of the subparagraph the words “; or”; and

by inserting after subparagraph (v) the following subparagraph:

“(vi) a person who owns or controls twenty per cent or more of the voting shares of a corporation falling within subparagraph (i) and any relative of such person, or any related trusts together with one or more persons falling within subparagraph (i).”;

and

by inserting after subsection (4) the following subsection:

“(5)  Any reference in this Act to the power of the

Minister or the Bank to impose or specify conditions shall include the power of the Minister or the Bank, as the case may be, to amend or revoke any existing conditions or impose any new conditions.”.

Amendment of section 4