Malaysia legislation
Section 21
Section 21
(2)
For the purposes of subsection (1), ―default‖ includes—
(a)
any negligence or failure in the carrying out of any function, or the exercise of any power, or the discharge of any duty, under this Act; and
(b)
any offence under this Act, or any offence under any other written law in relation to any matter dealt with under this
Act, regardless—
(i)
whether or not there has been any prosecution in respect of the offence; or
(ii)
whether the default was committed by the participating investing institution, or any director,
(i)
(ii)
26 Laws of Malaysia ACT 637
officer, or controller (as those words are defined in subsection 18(6)), or any clerk, servant or agent of the participating investing institution, or any clerk or servant of the agent.
Minister’s power to amend the First or Second Schedule