Section 80
Liability where accounting records and information not kept
of Development Financial Institutions Act 2002
If accounting records or information necessary to exhibit and explain the transactions and true financial condition of a prescribed institution are not kept, a past and present employee of the prescribed institution responsible for keeping proper accounting records or information commits an offence unless he proves that the offence was committed without his consent or connivance and that he exercised such diligence to prevent the commission of the offence as he ought to have exercised, having regard to the nature of his function in that capacity and to the circumstances.
*NOTE—For application to Bank Simpanan Nasional–see subsubparagraph 2(b)(ii) of the Development
Financial Institutions (Bank Simpanan Nasional) (Modification) Order 2004 [P.U. (A) 147/2004] which comes into operation on 15 February 2002.
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(1A)
For the purposes of subsection (1), “accounting records” has the same meaning as in the *Companies Act 1965.
(2)
Any person who contravenes subsection (1) commits an offence and shall on conviction be liable to imprisonment for a term not exceeding one year or to a fine not exceeding five million ringgit or to both.