Malaysia legislation
Section 20
Section 20
(2)
A disclosure under subsection (1) shall be recorded in the meeting minutes of the Board or Board Committee, as the case may be, and after the disclosure, such member of the Board or
Board Committee shall—
(a)
neither take part nor be present in any deliberation or decision of the Board or Board Committee, as the case may be; and
Consumer Credit 29
(b)
be disregarded for the purpose of constituting a quorum of the Board or Board Committee, as the case may be, relating to the matter.
(3)
No act or proceedings of the Board or Board Committee shall be invalidated on the ground that any member of the Board or Board Committee has failed to comply with this section.
(4)
Any member of the Board or Board Committee who contravenes subsection (1) or paragraph (2)(a) commits an offence and shall, on conviction, be liable to a fine not exceeding five hundred thousand ringgit or to imprisonment for a term not exceeding three years or to both.
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