Section 20
Disclosure of interest
of Central Bank of Malaysia Act 2009
A director who has any direct or indirect interest in any dealing or business with the Bank or in the exercise or proposed exercise by the Bank of a power shall disclose that interest at the first meeting of the Board at which he is present after the relevant facts have come to his knowledge.
(2)
A disclosure under subsection (1) shall be recorded in the minutes of the meeting of the Board and, after the disclosure, the director—
(a)
shall not be present at, or take part in, any deliberation or decision of the Board with respect to that dealing or business or the exercise or proposed exercise of the power; and
(b)
shall be disregarded for the purpose of constituting a quorum of the Board for any such deliberation or decision.
(3)
No act or proceeding of the Board shall be invalidated on the ground of the contravention of subsection (1) by a director.
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(4)
A director who fails to comply with subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit.