Malaysia legislation
Section 23
of SARAWAK SOVEREIGN WEALTH FUTURE FUND BOARD ORDINANCE, 2022
Section 23
―(1) A Guardian who has a material personal interest in a matter that relates to the affairs of the Board or the Fund shall give the other Guardians notice in writing of his interest.
(2)
The notice required to be given under sub-section (1)
shall―
(a)
specify the details of―
(i)
the nature and extent of the interest; and
(ii)
the relationship of the interest to the affairs of the Board or the Fund, which are sufficient to enable the other Guardians to apprise themselves fully as to the nature and extent of any conflict of interest or possible conflict of interest on the part of the Guardian; and
(b)
be given to all of the other Guardians personally or during a Board meeting, as soon as practicable, after the Guardian becomes aware of his interest in the matter.
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(3)
If such notice is given to all of the other Guardians personally, such notice shall be tabled at the subsequent meeting after such notice is given and be recorded in the minutes of meeting.
(4)
If such notice is given during a Board meeting, such notice shall be recorded in the minutes of meeting.
(5)
A non-compliance of this section by a Guardian does not by itself affect the validity of any bona fide transaction by or resolution of the Board.
No derogation from other laws as to conflicts of interest, etc.