Section 38

the person to whom the credit facility is given has creditworthiness which is not less than that normally required by the Bank of other persons to whom credit facilities are given;

the terms of the credit facility are not less favourable to the Bank than those normally offered to other persons;

the giving of the credit facility will be in the interests of the Bank; and

the credit facility is approved by all other directors of the

Bank at a duly constituted meeting of the directors where not less than three quarters of all the directors of the

Bank are present and such approval has been recorded in the minutes of that meeting.

Where the Bank fails to comply with subsection (1), it shall be guilty of an offence and shall on conviction be liable to a fine not exceeding five million ringgit.

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Where the Bank is guilty of an offence under subsection (2), any person who at the time of the commission of the offence was a person responsible for the Bank shall be guilty of that offence and shall on conviction be liable to a fine not exceeding five million ringgit or to imprisonment for a term not exceeding five years or to both.

Disclosure of interest by director