In forceUpdated to 6 Oct 2023Read it in Bahasa Malaysia

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Development Financial Institutions Act 2002 · Updated to 6 Oct 2023 · Part VIII · Examination and Investigation

85. Examination of person other than prescribed institution

(1)

The Bank may examine—

(a)

a person who is, or was at any time, a director or employee of a prescribed institution, its subsidiary or of its agent;

(b)

a person who is, or was at any time, a client of, or otherwise having dealings with, the prescribed institution or its subsidiary; or

(c)

a person whom the Bank believes to be acquainted with the facts and circumstances of the case, including the auditor of a prescribed institution or its subsidiary or a member of the

Shariah committee, and that person shall give such document, information or explanation as the Bank may require within such time as the Bank may specify.

(2)

Any person who contravenes subsection (1) commits an offence and shall on conviction be liable to imprisonment for a term not exceeding eight years or to a fine not exceeding twenty-five million ringgit or to both.

(3)

Any person falling under paragraph (1)(b), an auditor or a member of the Shariah committee referred to in paragraph (1)(c) shall not be liable for breach of a contract relating to, or duty of,

Development Financial Institutions 99

confidentiality for giving a document, information or explanation under subsection (1).

Terms defined in s 3

Bank
Defined · s 3
“Bank” means the Central Bank of Malaysia established under the *Central Bank of Malaysia Act 2009;
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client
Defined · s 3
“client” includes a customer;
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development
Defined · s 3
“development” includes the commencement of any new industrial, agricultural, commercial or other economic venture or the expansion or improvement of any such existing venture;
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director
Defined · s 3
“director” includes any person who occupies the position of a director, and includes a person in accordance with whose directions and instructions the directors or officers are accustomed to act and an Development Financial Institutions 19 alternate or substitute director, and without prejudice to the foregoing, in the case of— (a) a co-operative society, means a member of the board, or other governing body, of the co-operative society; (b) a statutory body, means a member of the board, committee, council or other governing body of the statutory body; (c) a partnership, means a partner; (d) a sole proprietorship, means the sole proprietor; and (e) any other body, association or group of persons, whether corporate or unincorporate, means a person having the direction and control of the management of its business or affairs;
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document
Defined · s 3
“document” has the same meaning as in the Evidence Act l950;
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member
Defined · s 3
“member”, in relation to an institution which is— (a) a corporation, means a shareholder; and (b) a partnership, means a partner;
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person
Defined · s 3
“person” includes an individual, any corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;
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prescribed institution
Defined · s 3
“prescribed institution” means a development financial institution which is prescribed by the Minister under subsection 2(1);
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Shariah committee
Defined · s 3
“Shariah committee” means the Shariah committee established under section 33F;
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specify
Defined · s 3
“specify” means specify in writing by way of standards or any other forms;
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subsidiary
Defined · s 3
“subsidiary” has the same meaning as in section 5 of the *Companies Act 1965;
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Report

Read on from s 86

Part IX

Miscellaneous

Read on from Part IX

85. Examination of person other than prescribed institution

Terms defined in s 3

Miscellaneous

Schedules