Malaysia legislation
Section 7
Section 7
(2)
A disclosure under subsection (1) shall be recorded in the minutes of the Board or the committee.
(3)
Upon the disclosure under subsection (1) the member—
(a)
shall not take part nor be present in any deliberation or decision of the Board or the committee; and
(b)
shall be disregarded for the purpose of constituting a quorum of the Board or the committee, relating to the matter.
(4)
A member of the Board or the committee who contravenes subsection (1) commits an offence and shall on conviction be liable to a fine not exceeding five hundred thousand ringgit or to imprisonment for a term not exceeding five years or to both.
(5)
No act or proceedings of the Board or the committee shall be invalidated on the ground that any member of the Board or the committee has contravened the provisions of this section.
16 Laws of Malaysia
Accounts