Section 18
Information to Minister
of Bank Kerjasama Rakyat Malaysia Berhad (Special Provisions) Act 1978
The Bank shall, once in every three months, submit to the
Minister or to an officer designated by him and to the Minister of
Finance or to an officer designated by him a report on the assets and liabilities of the Bank and a statement showing particulars of all advances and loans granted to—
(a)
any of its directors, as defined in subsection 15(4);
(b)
any firm or corporation in which any of the directors of the Bank, as defined in subsection 15(4), is interested as a partner, director, manager, or agent;
(c)
any subsidiary of the Bank;
(d)
any individual, firm, or corporation of whom or of which any of the directors of the Bank, as defined in subsection 15(4), is a guarantor;
(e)
any of its officers or employees in excess of six months’
remuneration of the officer or employee; and
20 Laws of Malaysia ACT 202
(f)
any corporation, other than a corporation to which paragraph (d) applies, in which any of the directors, officers, or employees of the Bank is interested as a director, manager, agent, or guarantor.
(2)
If, on examination of the report and statement submitted by the Bank under subsection (1), it appears to the Minister or to the officer designated by him that any advance or loan granted is to the detriment of the interests of the members or depositors of the Bank, the Minister or, on the direction of the Minister, the designated officer may, with the concurrence of the Minister of Finance, by order in writing prohibit the Bank from granting any further advance or loan or impose such restrictions on further grants as the Minister or the designated officer, with the concurrence of the Minister of
Finance, thinks fit, and may further, with the concurrence of the
Minister of Finance, direct the Bank to secure repayment of any advance or loan within such time and to such extent as may be specified in the order.