Malaysia legislation
Section 8
Section 8
⎯(1)
The Corporation shall meet at such times as may be necessary or expedient for the transaction of business, and such meetings shall be held at such place and time and on such days as the
Corporation may determine.
[Am. Ord. No. 19/71.]
(2)
The Chairman may at any time call a special meeting of the Corporation, and shall call a special meeting within seven days of a requisition for that purpose addressed to him by any three members of the Corporation.
(3)
The quorum at all meetings of the Corporation shall be a majority of the members among whom there shall be the Chairman who shall preside at such meetings.
(4)
The decisions of the Corporation shall be by a majority of votes. In any case in which the voting is equal the Chairman shall have a casting vote in addition to his original vote.
(5)
The Corporation may act notwithstanding any vacancy among the members of it.
(6)
Proper minutes of each meeting shall be kept by the
Secretary and shall be confirmed by the Chairman as soon as practicable after that at a subsequent meeting.
[Am. Ord. 19/71; Am. Cap. A41.]
(7)
The Corporation may co-opt any one or more persons to attend any particular meeting of the Corporation on any matter for the purpose of assisting or advising the Corporation, but such co-opted person shall not have the right to vote.
(8)
Subject to subsections (1) to (7), the Corporation shall have power to regulate its own proceedings.
[Am. Ord. No. 19/71.]
Information obtained as a member or officer of the Corporation to be secret and confidential 9.⎯(1)
Every member of the Corporation and every officer of the Corporation⎯
(a)
shall regard and deal with as secret and confidential all information, documents and matters which, or knowledge of which, he may obtain as a member or an officer of the
Corporation, as the case may be, which relates to any of the proceedings of the Corporation; and
(b)
shall not make use of any documents, matters or information which, or knowledge of which, he may obtain as a member or an officer of the Corporation, as the case may be, for the benefit of himself or any other person, or otherwise than for the purposes of his duties as a member or an officer of the
Corporation, and shall make and subscribe a statutory declaration to such effect.
[Am. Ord. No. 4/64; Am. Ord. No. 19/71.]
(2)
No fee or stamp duty shall be payable or chargeable in respect of any declaration made under subsection (1).
(3)
If any member or officer of the Corporation contravenes subsection (1)(a) or (b), he shall be guilty of an offence: Penalty, imprisonment for six months and a fine of one thousand ringgit.
[Am. Ord. No. 8/64; Am. Ord. No. 19/71.]
(4)
Nothing in this section shall be deemed to preclude the
Corporation from making, with the consent of an applicant, such inquiries as the Corporation may deem fit in connection with an application made to it by that applicant.
Disclosure by member of the Corporation of interest in transaction with the Corporation, and disqualification 10.⎯(1)
Subject to this section, it shall be the duty of a member of the Corporation who is in any way, whether directly or indirectly, interested in an application to the Corporation for a loan or guarantee under the provisions of this Ordinance, or in a contract or proposed contract with the Corporation, or in any company or firm which is in receipt of, or applying for, such a loan or guarantee or which is so interested in such a contract or proposed contract, to declare the nature of his interest at a meeting of the Corporation.
(2)
In the case of such application or proposed contract, the declaration required by this section to be made by a member of the
Corporation shall be made at the meeting of the Corporation at which the question of granting or refusing the application or entering into the contract is first taken into consideration, or if such member is not present at such meeting then at the next meeting which he attends, or if such member was not at the date of such meeting interested in the application or proposed contract or did not on the said date have an interest in any such firm or company as is referred to in subsection
(1)
, the said declaration shall be made at the next meeting of the company after he became so interested or acquired such an interest.
(3)
For the purpose of this section, a general notice given to the other members of the Corporation by a member to the effect that he is also a member of a specified company or firm and is to be regarded as interested in any application for a loan or guarantee from the Corporation or in any contract which may, after the date of the notice, be made by or with that company or firm, shall be deemed to be a sufficient declaration of interest in relation to any application or contract so made:
Provided that no such notice shall be of effect unless either it is given at a meeting of the Corporation or the member of the
Corporation concerned takes reasonable steps to secure that it is brought up and read at the next meeting of the Corporation after it is given.
(4)
No member of the Corporation shall sit or take part in proceedings or vote on the decision of any application to the
Corporation for a loan or guarantee or in respect of any contract or arrangement in which he is interested, whether directly or indirectly, and whether personally or by virtue of an interest in any company or firm, and if he shall vote his vote shall not be counted, nor shall he be counted in the quorum present at that meeting.
(5)
A contravention of this section shall constitute an offence:
Penalty, a fine of two thousand ringgit.
Power of the Corporation to establish offices or agencies