Section 82
of Central Bank of Malaysia Act 2009
Section 82
Where the Security Council of the United Nations decides, in pursuance of Article 41 of the Charter of the United Nations, on measures to be employed to give effect to any of its decision and calls upon the Government of Malaysia to apply such measures, the Bank may, in relation to the measures that are within the functions and duties of the Bank, with the approval of the Minister, make regulations for, or issue directions in writing to any financial institution or class of financial institutions to enable those measures to be effectively applied.
(2)
Any financial institution for which the regulations are made or to which directions are issued under subsection (1) shall comply with the regulations or directions notwithstanding any other duty imposed on the financial institution by any contract or law or international agreement.
(3)
Any financial institution shall not, in carrying out any act in compliance with the regulations made or directions issued under subsection (1), be treated as being in breach of any such contract or law or international agreement.
(4)
Any financial institution who fails to comply with subsection
(2)
commits an offence and shall, on conviction, be liable to a fine not exceeding one hundred thousand ringgit.
82 Laws of Malaysia ACT 701