Section 14D

did not or has failed to collect any moneys owing to the bank for the collection of which he is or was responsible;

is or was responsible for any payment of money from the Bank which ought not to have been made or for any payment of moneys which is not duly approved;

is or was responsible, directly or indirectly, for any deficiency in, loss or the destruction of, any moneys, stamps, securities, stores or other property of the Bank;

being or having been an accounting officer, fails or has failed to keep proper accounts or records; or

has failed to make any payment, or is or was responsible for any delay in the payment of money from the Bank to any person to whom such payment is due under any contract, agreement or arrangement entered into between that person and the Bank.

20 Laws of Malaysia ACT 146

The Bank shall, before the person is surcharged, serve on him a written notice calling on him to show cause why he should not be surcharged.

If a satisfactory explanation is not received within fourteen days from the date of service of the notice under subsection (2), the Bank may surcharge against that person such sum as the Bank deems fit.

The Bank shall cause the Chief Executive to be notified of any surcharge made under subsection (3) and the Chief Executive shall thereupon notify the person surcharged.

The Bank may at any time withdraw any surcharge in respect of which a satisfactory explanation has been received or if it otherwise appears that no surcharge should have been made, and the Bank shall immediately cause the Chief Executive to be notified of such withdrawal and the Chief

Executive shall inform the person surcharged of the withdrawal.

The amount of any surcharge imposed under subsection (3) and not withdrawn under subsection (5) shall be a debt due to the Bank from the person surcharged and may be sued for and recovered in any court at the suit of the Bank and may also, if the Bank so directs, be recovered by deduction from—