Section 19
Disclosure of interest
of National Trust Fund Act 2026
A member of the Board or a committee who directly or indirectly has by himself, his spouse or children any interest in any matter under discussion by the Board or committee shall, as soon as practicable after the fact has come to that member’s knowledge, disclose to the Board or committee the fact and nature of his interest.
(2)
A disclosure under subsection (1) shall be recorded in the minutes of the meeting of the Board or committee, as the case may be, in which the matter is discussed and, after the disclosure, the member—
(a)
shall not be present or take part in any discussion or decision of the Board or committee relating to the matter;
and
(b)
shall be disregarded for the purpose of constituting a quorum of the Board or committee when the matter is discussed or decided upon.
(3)
Any member of the Board or committee who fails to disclose his interest as required under subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding two hundred and fifty thousand ringgit or to imprisonment for a term not exceeding five years or to both.
Act 885
(4)
No decision, act or proceedings of the Board or committee shall be invalidated on the ground that any member of the Board or committee has contravened this section.