Section 50

the subject-matter or evidence relating to the commission of an offence under subsection 4(1) or a terrorism financing offence;

terrorist property;

the proceeds of an unlawful activity; or

the instrumentalities of an offence, is in the possession, custody or control of a financial institution, he may, notwithstanding any other written law, by order direct that such movable property or any accretion to it in the financial institution be seized by the investigating officer or by order direct the financial institution not to part with, deal in or otherwise dispose of such movable property or any accretion to it, in whole or in part, until the order is varied or revoked.

The investigating officer effecting a seizure under this section shall forthwith notify Bank Negara Malaysia, the Securities

Commission or the Labuan Financial Services Authority, as the case may be, of any order made under subsection (1).

A financial institution or any agent or employee of a financial institution shall not, on account of complying with an order of the

Public Prosecutor under subsection (1), be liable to any prosecution under any law or to any proceedings or claim by any person under any law or under any contract, agreement, or arrangement, or otherwise.

Any person who fails to comply with an order of the Public

Prosecutor under subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding five times the amount which was parted with, dealt in or otherwise disposed of in contravention of the Public Prosecutor’s order or five million ringgit, whichever is the higher, or to imprisonment for a term not exceeding seven years or to both, and, in the case of a continuing offence, shall in addition be liable to a fine not exceeding five thousand ringgit for each day or part thereof during which the offence continues to be committed.

Anti-Money Laundering, Anti-Terrorism 81

Financing and Proceeds of Unlawful

Activities

(Deleted by Act A1467).

Seizure of immovable property