Malaysia legislation
Section 66E
Section 66E
(2)
An institution to which a direction or guideline is issued under subsection (1) shall comply with the direction or guidelines notwithstanding any other duty imposed on the institution by any rule of law, written law or contract.
(3)
An institution shall not, in carrying out any act in compliance with any direction or guidelines made under subsection (1), be treated as being in breach of any such rule of law, written law or contract.
(4)
An institution shall not disclose any direction or guideline issued under subsection (1) if the relevant regulatory or supervisory authority, as the case may be, notifies the institution that the relevant regulatory or supervisory authority, as the case may be, is of the opinion that the disclosure of the direction or guideline is against public interest.
(5)
Any institution that—
(a)
fails or refuses to comply with a direction or guideline issued to it;
(b)
contravenes any direction or guideline issued to it; or
(c)
discloses a direction or guideline issued to it in contravention of subsection (4), commits an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit.
(6)
The relevant regulatory or supervisory authority shall report to the Minister of Home Affairs and the Minister of Finance on the action taken under this section every six months or as the respective Minister may require.
Anti-Money Laundering, Anti-Terrorism 107
Financing and Proceeds of Unlawful
Activities
Savings for orders made under the Exchange Control Act 1953
and the Labuan Financial Services Authority Act 1996