Malaysia legislation
Section 120
Section 120
(a)
for such purpose or in such circumstances as set out in the first column of the Fourth Schedule, disclose any document or information relating to the affairs or account of its customer to such persons specified in the second column of that Schedule; or
(b)
disclose any document or information relating to the affairs or account of its customer to any person where such disclosure is approved in writing by the Bank.
(2)
The prescribed institution or its directors or officers making a disclosure for the purposes or in such circumstances as set out in the
Fourth Schedule and paragraph (1)(b), shall be subject to such conditions as may be specified by the Bank.
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(3)
Any person who receives any document or information relating to the affairs or account of a customer as permitted under subsection (1) shall not disclose such document or information to any other person.
(4)
In any proceedings under paragraph 3, 4, 5, 6 or 7 of the first column of the Fourth Schedule or circumstances approved by the Bank under paragraph (1)(b), where any document or information is likely to be disclosed, in relation to the affairs or account of a customer, the court may, on its own motion, or on the application of a party to the proceedings or the customer to which the document or information relates—
(a)
order that the proceedings be held in camera and in such case, the document or information shall be secret as between the court and the parties thereto, and no such party shall disclose such document or information to any other person; and
(b)
make such further orders as it may consider necessary to ensure the confidentiality of the customer’s document or information.
(5)
Unless the court otherwise orders, no person shall publish the name, address or photograph of any parties to such proceedings as are referred to in subsection (4), or any document or information likely to lead to the identification of the parties thereto, either during the currency of the proceedings or at any time after the proceedings have been concluded.
(6)
Any person who fails to comply with the conditions imposed by the Bank pursuant to subsection (2) or 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.
Development Financial Institutions 143
Decision of Minister to be final