Payment Systems Act 2003 s 51

This legislation has been repealed. Do not cite it as law in force.

Text recovered by OCR from a scanned copy — section numbers and wording may be wrong. Check the official PDF on lom.agc.gov.my before citing.

s 51

(1) Where the Bank is satisfied on information given by an investigating officer that any movable property, including any monetary instrument or any accretion to it, which is the subject matter of an offence under this Act or evidence in relation to the commission of such offence, is in the possession, custody or control of a financial institution, the Bank may, notwithstanding any other law or rule of law, by order direct the financial institution not to part with, deal in, or otherwise dispose of such property or any part of it until the order is revoked or varied. (2) A financial institution or any agent or officer of a financial institution shall not, on account of complying with an order under subsection (1), be liable to any prosecution under any law or to any proceedings or claim by any person under any law or under any contract, agreement, or arrangement, or otherwise. (3) Any person who fails to comply with an order under subsection (1) commits an offence. (4) In this section, "monetary instrument" includes the domestic currency or any foreign currency, travellers' cheque, personal cheque, bank cheque, money order, investment security or negotiable instrument in bearer form or otherwise in such form that title to it passes upon delivery or upon delivery and endorsement. Dealing with property after seizure to be void

Malay text (authoritative)

Penyitaan harta alih di institusi kewangan Membuat urusan tentang harta selepas penyitaan adalah tidak sah

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Find Act 627 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).

What to look at next

Payment Systems Act 2003, full textChapter navigation and full text, so you can read this section in contextMalaysia legislation Malaysia Acts by type and yearGrouped by instrument type and year of enactment, so you can find others of the same kindBrowse by type and year Part V — Investigation, search and seizure — read this in contextThe surrounding text of the act in order, so you can see what comes before and afterChapters and sections