Section 14

any person, body, corporation or company carrying on or engaged in, or about to carry on or engage in, any of the activities or any combination thereof referred to in section 21; or

18 Laws of Malaysia ACT 244

any person, body, corporation or company with which the

Perbadanan proposes to enter into a contract or has entered into a subsisting contract.

Notwithstanding paragraph (1)(b), such person may be appointed as a member, an officer or a servant of the Perbadanan or as a member of a committee thereof if he has an interest, directly or indirectly, as a shareholder only of a company referred to in that subsection and provided that the holding of the shares in that company does not result in any controlling interest, directly or indirectly.

Prior to his being appointed as a member, an officer or servant of the Perbadanan or as a member of a committee thereof, every person shall disclose fully, in the case of a person who is to be appointed as a member of the Perbadanan, to the Minister, and, in the case of a person who is to be appointed as a member of a committee or as an officer or a servant of the Perbadanan, to the Perbadanan, whether he has any such interest as is referred to in subsection (1).

Where such member, officer or servant acquires any such interest after the coming into operation of this Act, he shall cease to be such member, officer or servant of the Perbadanan or a committee thereof, as the case may be, and his appointment shall be deemed to be revoked forthwith:

Provided that this subsection shall not apply where the member, officer or servant inherits or is bequeathed with such interest and he relinquishes or disposes of such interest within a period of three months of its being bequeathed and vesting in him and within that period reports in writing, in the case of a member of the Perbadanan, to the Minister and, in the case of a member of a committee or an officer or a servant, to the Perbadanan, the fact of such relinquishment or disposal.

For the purposes of this section, “indirect interest” shall include the having or acquiring of any such interest as is referred to in this section by a spouse or a natural or an adopted child (below twenty-one years of age) of a person or a member, an officer or a

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Nasional Malaysia servant of the Perbadanan or a member of a committee thereof, as the case may be.

Any person who contravenes any of the provisions of this section shall be guilty of an offence and shall, on conviction, be liable to imprisonment for a term not exceeding five years or to a fine not exceeding twenty-five thousand ringgit or to both.

Declaration of share or interest and disqualification