Malaysia legislation
Section 9C
Section 9C
(2)
A depository institution shall issue to each of its investment customers a monthly statement in such form and within such period as may be determined by the Bank.
Government Funding 13
(3)
A monthly statement shall be the sole evidence of the investments held by an investment customer at the close of the month in respect of which it is issued.
(4)
A depository institution shall pay to the investment customer—
(a)
the return on each of the investments which stand in such investment customer’s account, and such payment shall be made as provided under section 8; and
(b)
such sums due on each of the investments which stand in such investment customer’s account, and such payment shall be made as provided under section 9.
(5)
The investments dealt with by a depository institution in respect of any transfer effected through it under subsection 9B(2)
shall be dealt with solely and exclusively in the manner, and for the purpose, provided under section 9B, and shall not be dealt with or utilized by the depository institution in any other manner whatsoever, or for any other purpose whatsoever.
(6)
A depository institution shall furnish to the Bank such returns, details, particulars or information in relation to the account maintained by it under subsection (1) in respect of each investment customer, or its investment customers generally, as may be specified by the Bank, or as the Bank may from time to time require in writing.
(7)
The Bank may, through any of its officers authorized in writing by the Governor or the Deputy Governor of the Bank, inspect and take copies of accounts maintained by a depository institution under this section, including the accounts in respect of any particular investment customer or any other record or account relating to or affecting any investments under this Act, and the depository institution, and every director, officer, employee, servant or agent of the depository institution shall furnish to such officer of the Bank all such books, records, correspondence, or any other document as may
14 Laws of Malaysia ACT 275
be required by the officer, and shall provide him all such assistance as he may require.
(8)
The account of an investment customer maintained by a depository institution under subsection (1) shall be secret as between the institution and the investment customer and shall not be disclosed to any person by the depository institution except to the Bank, including the officers of the Bank referred to in subsection (7), unless such disclosure is authorized in writing by the investment customer.
(9)
A depository institution shall be absolutely and wholly responsible and liable to its investment customer in respect of all transfers taken or made by the investment customer through it under subsection 9B(2).
(10)
A depository institution shall not require an investment customer to pay any charge, fee, or any other payment in respect of any matter dealt with by it in relation to an investment customer under this Act, except as may be provided by rules made under section 16.
Bank’s power to require information, inspect and take copies