Development Financial Institutions Act 2002 · Updated to 6 Oct 2023 · Part VII · Auditor and Accounts
63. Appointment of auditor
Feedback & supportA prescribed institution shall appoint, for each financial year before a date to be specified by the Bank, an auditor approved by the
prescribed institution
“prescribed institution” means a development financial institution which is prescribed by the Minister under subsection 2(1);
Bank.
Bank
“Bank” means the Central Bank of Malaysia established under the *Central Bank of Malaysia Act 2009;
(Deleted by Act A1502).
Where a prescribed institution fails to appoint an auditor before the date specified in subsection (1), the Bank may appoint an auditor for the prescribed institution and the remuneration and expenses of the auditor as specified by the Bank shall be paid by the prescribed institution.
Development Financial Institutions 85
development
“development” includes the commencement of any new industrial, agricultural, commercial or other economic venture or the expansion or improvement of any such existing venture;
If the Bank considers it desirable that another auditor should act with the auditor appointed under subsection (1) or (3), the Bank may appoint another auditor, whose remuneration and expenses, as specified by the Bank, shall be paid by the prescribed institution.