Malaysia legislation
Section 11
Section 11
(1)
Every statutory body shall submit to the Minister and the State Financial
Authority the audited statements of accounts of its holding or subsidiary or related companies within seven months after the end of the financial year of the companies.
(2)
The Minister or the State Financial Authority may request the Chief
Executive Officer of a statutory body to furnish to him such explanations or clarifications as he may deem necessary on the audited statement of accounts of any holding or subsidiary or related company of that statutory body.
(3)
The Minister may request the Chief Executive Officer of a statutory body to furnish to him for inspection by him or the State Financial Authority any financial statement or accounting record of any holding or subsidiary or related company of that statutory body.
11
(4)
The Chief Executive Officer shall comply with the request of Minister or State
Financial Authority made in pursuance of subsection (2) or (3) as soon as practicable.
Power of Minister to direct the winding up of holding or subsidiary companies or replacement or removal of nominees or employees.