Malaysia legislation
Section 14
Section 14
(a)
an enterprise in which the Authority has entered or proposes to enter into equity participation pursuant to paragraph 3(2)(l);
(b)
a corporation or company established, incorporated, promoted, expanded or registered pursuant to subsections 3(3)
and 3(3A); or
(c)
a company or an undertaking with which the Authority or an enterprise, a corporation or company mentioned in paragraph (a) or (b) proposes to make a contract or has made a subsisting contract.
(2)
Notwithstanding subsection (1) and subject to subsection (3), such person may be appointed as a member of the Authority under paragraph 2(3)(i) but in so appointing him the Minister may impose any conditions or restrictions that the Minister may deem fit.
(3)
Prior to his being appointed as a member or being employed as an officer or a servant of the Authority, every person shall disclose fully—
(a)
to the Minister in the case of a person to be appointed as a member; and
(b)
to the Authority in the case of a person to be employed as an officer or a servant, any such interest as is mentioned in subsection (1), and on his being so appointed or employed, such person shall not further acquire any such interest.
Federal Agricultural Marketing Authority 21
(4)
Subject to subsection 15(1), a member who is appointed or an officer or a servant who is employed contrary to subsection (1), or who on being appointed or employed further acquires any such interest, shall have his appointment revoked forthwith by the Minister or his employment terminated by the Authority without notice, as the case may be.
(5)
Any person, member, officer or servant who contravenes this section, section 15 or a condition or restriction imposed under this section or section 15 commits an offence and shall be liable on conviction to imprisonment for a term not exceeding five years or to a fine not exceeding twenty-five thousand ringgit or to both.
(6)
For the purposes of this section and section 15, the having or acquiring of any such interest as is mentioned in subsection (1) by his spouse or any of his children shall be deemed to give the person, member, officer or servant concerned an indirect interest.
Disclosure of existing interest