Malaysia legislation
Section 119
Section 119
(2)
Notwithstanding subsection (1), the Bank may inquire into the affairs or account of a customer of a prescribed institution for the purposes of exercising its powers or functions under this Act, the
Financial Services Act 2013, the Islamic Financial Services Act 2013
or section 47 of the Central Bank of Malaysia Act 2009.
(3)
No person, who has access to any document or information relating to the affairs or account of any customer of a prescribed institution, including—
(a)
the prescribed institution; or
(b)
any person who is or has been a director, officer or agent of the prescribed institution, shall disclose to another person any document or information relating to the affairs or account of any customer of the prescribed institution.
(4)
Subsection (3) shall not apply to any document or information relating to the affairs or account of any customer of a prescribed institution—
(a)
that is disclosed to the Minister, the Bank, any officer of the
Bank or any person appointed under this Act or the Central
Bank of Malaysia Act 2009 for the purposes of exercising any powers or functions under this Act or the Central Bank of Malaysia Act 2009;
Development Financial Institutions 141
(b)
that is in the form of a summary or collection of information set out in such manner as does not enable information relating to any particular customer of the prescribed institution to be ascertained from it; or
(c)
that is at the time of disclosure is or has already been made lawfully available to the public from any source other than the prescribed institution.
(5)
No person who has any document or information which to his knowledge has been disclosed in contravention of subsection (3) shall disclose the same to any other person.
(6)
Any person who contravenes subsection (3) or (5) commits an offence and shall on conviction be liable to imprisonment for a term not exceeding five years or to a fine not exceeding ten million ringgit or to both.
Permitted disclosure