Section 31
ActRepealedProvision 31 of 68
Section 31
(1)
Without prejudice to anything contained in the Companies Act 1965, any person who is a managing director, director, chief executive, principal officer or controller of an operator shall cease to hold office-
(a)
if he becomes bankrupt;
(b)
if he assigns his estate for the benefit of his creditors or makes an arrangement with his creditors pursuant to any law relating to bankruptcy; or
(c)
if he is convicted of an offence involving dishonesty or fraud.
(2)
Any person who contravenes subsection (1) shall be guilty of an offence and shall, on conviction, be liable to a fine not exceeding two thousand ringgit.