Malaysia legislation
Section 40
Section 40
(2)
The Minister may by written notice direct the Bank to—
(a)
submit any information relating to its policy and procedure for the giving of any credit facility;
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(b)
submit a report on the limit or the terms and conditions imposed, the directions given, and the agreements made, in relation to the authority of every director or officer of the Bank authorized to give credit facilities or exercise any power in respect thereof; or
(c)
make such amendments to the policies or procedures referred to in paragraph (a), or to make such variations in the matters mentioned in paragraph (b), as the Minister deems to be fit and proper, either generally, or in relation to any class of directors or officers, or in relation to any particular director or officer, and such amendments and variations shall be binding on the Bank and its directors and officers.
(3)
Any person who fails to comply with subsection (1) shall be guilty of an 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.
(4)
Where the Bank fails to comply with subsection (2), it shall be guilty of an offence and shall on conviction be liable to a fine not exceeding three million ringgit and, in the case of a continuing offence, to a further fine not exceeding three thousand ringgit for each day during which the offence continues after conviction.
(5)
Where the Bank is guilty of an offence under subsection (4), any person who at the time of the commission of the offence was a person responsible for the Bank shall also be guilty of that offence and shall on conviction be liable to a fine not exceeding three million ringgit or to imprisonment for a term not exceeding three years or to both and, in the case of a continuing offence, to a further fine not exceeding three thousand ringgit for each day during which the offence continues after conviction.
Restrictions on investments