Bank Kerjasama Rakyat Malaysia Berhad (Special Provisions) Act 1978 s 10
s 10 Power of the Bank to institute proceedings for damages and recovery of property
(1) The Bank may, if the Board is satisfied that it is necessary in the interest of the Bank or in the public interest so to do, institute such proceedings as it thinks fit for the recovery of damages for any fraud, dishonesty, or other misconduct, in connection with the management of the affairs of the Bank, committed by any person before the commencement of this Act, or for the recovery of any property of the Bank that has been misapplied or wrongfully retained by any person.
(2) No director shall be personally liable for any costs or expenses incurred in connection with any proceedings instituted by virtue of this section.
(3) Subsection (1) shall be without prejudice to any other right of the Bank to institute proceedings for any purpose.
Malay text (authoritative)
Kuasa Bank untuk memulakan prosiding bagi mendapatkan ganti rugi dan harta
(1) Bank boleh, jika Lembaga berpuas hati bahawa perlu dan kepentingan Bank atau kepentingan awam untuk berbuat demikian, memulakan apa-apa prosiding sebagaimana yang difikirkannya patut bagi mendapatkan ganti rugi kerana apa-apa fraud, kecurangan, atau salah laku lain, berhubung dengan pengurusan hal ehwal Bank, yang dilakukan oleh mana-mana orang sebelum permulaan kuat kuasa Akta ini, atau bagi mendapatkan apa-apa harta Bank yang telah disalahgunakan atau disimpan secara salah oleh mana-mana orang.
(2) Tiada pengarah boleh bertanggungan sendiri terhadap apa-apa kos atau perbelanjaan yang dilakukan berhubung dengan apa-apa prosiding yang dimulakan menurut seksyen ini.
(3) Subseksyen (1) tidak menjejaskan apa-apa hak lain Bank untuk memulakan prosiding bagi apa-apa maksud.
Read this section in the full act → · Open Part II →
Find Act 202 on lom.agc.gov.my ↗
Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
