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← Co-operative Societies Act 1993

Co-operative Societies Act 1993 s 80

Co-operative Societies Act 1993 s 80

s 80 Power of the Commission to surcharge officers, etc., of a co- operative society

(1) If, in the course of a dissolution of a co-operative society or consequent upon an audit under section 60 or an inspection under section 64 or 68 or an inquiry under section 66 or an investigation under Part VI of the Malaysia Co-operative Societies Commission Act 2007, it appears that any person who has taken part in the organization or management of such co-operative society or any past or present officer of the co-operative society, agent or member of the co-operative society has misapplied or retained or become liable or accountable for any money or property of such co-operative society or has been guilty of misfeasance or breach of trust in relation to such co-operative society, the Commission may on its own motion or on the application of the liquidator or contributory, examine into the conduct of such person and make an order requiring him to repay or restore the money or property or any part thereof with return or interest at such rate as the Commission thinks just or to contribute such sum to the assets of such co-operative society by way of compensation in regard to the misapplication, retainer, dishonesty or breach of trust as the Commission thinks just. (2) Notwithstanding any other written law, an order under subsection (1) shall be enforced by the Sessions Court having jurisdiction over the place where the registered office of the cooperative society is situated in like manner as a judgment of that Court. (3) This section shall apply notwithstanding that the act referred to in subsection (1) is one for which the offender may be criminally responsible.

Read this section in the full act → · Open Part VIII →

Find Act 502 on lom.agc.gov.my ↗

Text as at 1 April 2015 (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).

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