Section 10
Power of the Bank to institute proceedings for damages and recovery of property
of Bank Kerjasama Rakyat Malaysia Berhad (Special Provisions) Act 1978
The Bank may, if the Board is satisfied that it is necessary in the interest of the Bank or in the public interest so to do, institute such proceedings as it thinks fit for the recovery of damages for any fraud, dishonesty, or other misconduct, in connection with the management of the affairs of the Bank, committed by any person before the commencement of this Act, or for the recovery of any property of the Bank that has been misapplied or wrongfully retained by any person.
(2)
No director shall be personally liable for any costs or expenses incurred in connection with any proceedings instituted by virtue of this section.
(3)
Subsection (1) shall be without prejudice to any other right of the Bank to institute proceedings for any purpose.