Malaysia legislation
Section 15
Section 15
(1)
No member, officer, employee or servant of a statutory body shall, without the prior written approval of the Cabinet -
(a)
acquire, apply for allotment or cause to be issued to him, either directly or indirectly, any share or interest in any holding or subsidiary or related company of that statutory body;
(b)
enter into any contract or proposed contract with that statutory body or with any holding or subsidiary company of that statutory body;
(c)
acquire, directly or indirectly, any of the assets, movable or immovable, of that statutory body or any holding or subsidiary or related company of that statutory body; or
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(d)
undertake to provide or carry out any work or render any services of whatever nature to that statutory body or any holding or subsidiary or related company of that statutory body.
(2)
Any acquisition, contract, undertaking or allotment made in contravention of subsection (1) shall be voidable at the instance of the statutory body or the holding or subsidiary or related company thereof, as the case may be.
(3)
Without prejudice to subsection (2), any member who contravenes subsection (1) shall have his appointment thereof revoked by the authority which appointed him, and the services of any officer, employee, or servant of the statutory body who acts in contravention of subsection (1) shall, notwithstanding any provision in his terms of his employment with the statutory body, be liable to be terminated in accordance with procedure provided in the Statutory Bodies (Conduct and Discipline) Regulations 1995 [G.N. No S3 of 1995.].
Surcharge.