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Malaysia Co-Operative Societies Commission Act 2007 · s 51

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s 51Specific person in respect of whom power of investigation may be exercised

(1)

For the purpose of this section—

“related”, in relation to a body corporate, means related within the meaning of section 6 of the *Companies Act 1965;

“interest in the share” has the same meaning as in the

*Companies Act 1965;

*NOTE─The Companies Act 1965 [Act 125] has been repealed by the Companies Act 2016 [Act 777]

which comes into operation on 31 January 2017–see subsection 620(1) of Act 777.

Malaysia Co-operative Societies Commission 49

“relative”, in relation to a person, means—

(a)

the spouse of the person;

(b)

the brother or sister of the person;

(c)

the brother or sister of the spouse of the person;

(d)

any lineal ascendant or descendant of the person;

(e)

any lineal ascendant or descendant of the spouse of the person;

(f)

the spouse of any person referred to in paragraph (b), (c),

(d)

or (e);

(g)

any lineal descendant of a person referred to in paragraph

(b)

, (c) or (f);

(h)

any uncle, aunt or cousin of the person, or of the spouse of the person; or

(i)

any spouse, or any lineal ascendant or descendant, of a person referred to in paragraph (h);

“business associate” of a person includes—

(a)

a banker, accountant, auditor, advocate, nominee or other person employed or appointed by such person at any time before or after the effective date;

(b)

any body corporate or unincorporate of which such person is a director, and any other director of such body corporate or unincorporate;

(c)

if such person is a body corporate—

(i)

any director of such body corporate;

50

(ii)

any associate or related corporation of such body corporate; and

(iii)

any business associate of such associate or related corporation as is referred to in subparagraph (ii);

(d)

any person having possession of any property belonging to such person;

(e)

any person indebted to such person;

(f)

any person having any knowledge or information relating to the business, dealings, affairs or property of such person;

and

(g)

any person acting in concert with such person.

(2)

Without prejudice to the generality of other powers of investigation conferred on an investigating officer under this Part, such powers may be exercised by him against any—

(a)

(i)

past or present business associate;

(ii)

person who is or was a relative;

(iii)

person who is or was a member or who has or had made a deposit with, or who is or was a creditor;

(iv)

person who is or was concerned with the control or management, in whole or in part of the affairs of the co-operative society; or

(v)

person who has or had an interest in the shares, or otherwise has or had an interest in the property, of the person suspected to have committed an offence under this Act, the Co-operative Societies Act 1993

or any other written law enforced by the

Commission;

Malaysia Co-operative Societies Commission 51

(b)

any business associate or relative of a person referred to in paragraph (a); or

(c)

any body corporate or unincorporate in which any person referred to in paragraph (a) is a director or officer or, where such body is a body corporate, has an interest in the shares of the body corporate.