Pengurusan Danaharta Nasional Berhad Act 1998 · Updated to 1 Feb 2013 · Part II · The Corporation
7. Disclosure of interest
Official textFrom Laws of Malaysia Online, unchanged
A member of the Board or any committee formed by the
Board having directly or indirectly any interest in relation to any matter under discussion by the Board or the committee shall disclose to the Board or the committee the existence of his interest and the nature of that interest.
A disclosure under subsection (1) shall be recorded in the minutes of the Board or the committee.
Upon the disclosure under subsection (1) the member—
shall not take part nor be present in any deliberation or decision of the Board or the committee; and
shall be disregarded for the purpose of constituting a quorum of the Board or the committee, relating to the matter.
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.
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
Terms defined in s 2
Part III
Acquisition of Share Capital of the Corporation by the Minister of Finance
Part IV
Guarantee by the Government
Part V
Acquisition and Disposition by the Corporation
Part VI
Management of Assets and Liabilities
Part VII
Additional Rights
Part VIII
Application of Other Acts
Part IX
Application of the Act
Part X