Banking and Financial Institutions Act 1989 · As enacted · Part XI · Investigation, Search and Seizure
Section 88
Official textFrom Laws of Malaysia Online, unchanged
Without prejudice to the generality of other powers of investigation conferred on an investigating officer under this Part, such powers may be exercised by him against—
officer
"officer", in relation to an institution, includes any employee and the chief executive of the institution;
any past or present business associate;
any person who is or was a relative;
any person who has or had made a deposit with, or who is or was a creditor;
any past or present controller;
any person who is or was concerned with the control or management, in whole or in part of the affairs; or
person
"person" includes an individual, any corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;
any person who has or had an interest in the shares, or otherwise has or had an interest in the property, of the person suspected to have committed an offence under this Act;
any business associate or relative of a person referred to in paragraph (a); or
relative
"relative", in relation to a person, means— (a) the spouse of the person; (b) the brother or sister of the person; (c) the brother or sister of the spouse of the person; (d) any lineal ascendant or descendant of the person; (e) any lineal ascendant or descendant of the spouse of the person; (f) the spouse of any person referred to in paragraph (b), (c), (d) or (e); (g) any lineal descendant of a person referred to in paragraph (b), (c) or (f); (h) any uncle, aunt or cousin of the person, or of the spouse of the person; or (i) any spouse, or any lineal ascendant or descendant, of a person referred to in paragraph (h);
any body corporate or unincorporate in which any person referred to in paragraph (a) is a director or officer or, where such body is a corporation, has an interest in the shares of the corporation.
director
"director" includes any person who occupies the position of a director, by whatever name called and, in particular, without prejudice to the foregoing, in the case of— (a) a corporation, has the meaning assigned thereto by the Companies Act 1965; (b) a co-operative society, means a member of the board, or other governing body howsoever called, of the co-operative society; (c) a statutory body, means a member of the board, committee, council or other governing body, howsoever called, of the statutory body; (d) a partnership, means a partner; (e) a sole proprietorship, means the sole proprietor; and (f) any other body, association or group of persons, whether corporate or unincorporate, means any person having the direction and control of the management of its affairs or business;
Terms defined in s 2
controller
Defined · s 2"controller", in relation to an institution, means a person who— (a) has an interest in more than fifty per centum of the shares of the institution; (b) has the power to appoint or cause to be appointed a majority of the directors of the institution; or (c) has the power to make or cause to be made, decisions in respect of the business or administration of the institution, and to give effect to such decisions or cause them to be given effect to, and the word "control" shall be construed accordingly;
corporation
Defined · s 2"corporation" has the meaning assigned thereto by the Companies Act 1965;
deposit
Defined · s 2"deposit" means a sum of money received or paid on terms— (a) under which it will be repaid, with or without interest or at a premium or discount; or (b) under which it is repayable, either wholly or in part, with any consideration in money or money's worth, and such repayment being either on demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the person receiving it, regardless whether the transaction is described as a loan, an advance, an investment, a saving, a sale or a sale and repurchase, but does not include money paid bona fide- (A) by way of an advance or a part payment under a contract for the sale, hire or other provision of property or services, and is repayable only in the event that the property or services is not or are not in fact sold, hired or otherwise provided; (B) by way of security for the performance of a contract or by way of security in respect of any loss which may result from the non-performance of a contract; (C) without prejudice to paragraph (B), by way of security for the delivery up or return of any property, whether in a particular state of repair or otherwise; and (D) in such other circumstances, or to or by such other person, as specified in the First Schedule;
director
Defined · s 2"director" includes any person who occupies the position of a director, by whatever name called and, in particular, without prejudice to the foregoing, in the case of— (a) a corporation, has the meaning assigned thereto by the Companies Act 1965; (b) a co-operative society, means a member of the board, or other governing body howsoever called, of the co-operative society; (c) a statutory body, means a member of the board, committee, council or other governing body, howsoever called, of the statutory body; (d) a partnership, means a partner; (e) a sole proprietorship, means the sole proprietor; and (f) any other body, association or group of persons, whether corporate or unincorporate, means any person having the direction and control of the management of its affairs or business;
officer
Defined · s 2"officer", in relation to an institution, includes any employee and the chief executive of the institution;
person
Defined · s 2"person" includes an individual, any corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;
property
Defined · s 2"property" means any movable or immovable property and includes— (a) any right, interest, title, claim, chose in action, power or privilege, whether present or future, or whether vested or contingent, in relation to any property, or which is otherwise of value; (b) any conveyance executed for conveying assigning, appointing, surrendering, or otherwise transferring or disposing of immovable property whereof the person executing the conveyance is proprietor or possessed or wherein he is entitled to a contingent right, either for the whole interest or for any less interest; (c) any security, including any stock, share, debenture and fund; (d) any negotiable instrument, including any bank note, bearer note, Treasury bill, dividend warrant, bill of exchange, promissory note, cheque and negotiable certificate of deposit; (e) any mortgage or charge, whether legal or equitable, guarantee, lien or pledge, whether actual or constructive, letter of hypothecation or trust receipt, indemnity, undertaking or other means of securing payment or discharge of a debt or liability, whether present or future, or whether vested or contingent; and (f) any other tangible or intangible property;
relative
Defined · s 2"relative", in relation to a person, means— (a) the spouse of the person; (b) the brother or sister of the person; (c) the brother or sister of the spouse of the person; (d) any lineal ascendant or descendant of the person; (e) any lineal ascendant or descendant of the spouse of the person; (f) the spouse of any person referred to in paragraph (b), (c), (d) or (e); (g) any lineal descendant of a person referred to in paragraph (b), (c) or (f); (h) any uncle, aunt or cousin of the person, or of the spouse of the person; or (i) any spouse, or any lineal ascendant or descendant, of a person referred to in paragraph (h);
Part XII
Application of Parts X and XI to Non-Scheduled Institutions Engaged in Provision of Finance
Part XIII
Information and Secrecy
Part XIV
Offences
Part XV