Capital Markets and Services Act 2007 s 340
s 340 Disclosure of interest
(1) A member of the Board who directly or indirectly has by himself, his spouse or children, any interest in any matter under discussion by the Board shall disclose to the Board the existence of such interest and nature thereof.
(2) A disclosure made under subsection (1) shall be recorded in the minutes of the Board, and after the disclosure—
(a) the member shall not take part nor be present in any deliberation or decision of the Board;
(b) the member shall be disregarded for the purpose of constituting a quorum of the Board relating to the matter; and
(c) no act or proceedings of the Board shall be invalidated on the ground that any member of the Board has contravened the provisions of this section.
Malay text (authoritative)
Penzahiran kepentingan
(1) Seseorang anggota Lembaga yang mempunyai secara langsung atau secara tidak langsung oleh dirinya sendiri, pasangannya atau anak-anaknya, apa-apa kepentingan dalam mana-mana perkara yang sedang dibincangkan oleh Lembaga hendaklah menzahirkan kepada Lembaga, hakikat kepentingan itu dan jenis kepentingan itu.
(2) Penzahiran yang dibuat di bawah subseksyen (1) hendaklah direkodkan dalam minit mesyuarat Lembaga, dan selepas penzahiran itu—
(a) anggota itu tidak boleh mengambil bahagian atau hadir dalam mana-mana pertimbangtelitian atau keputusan Lembaga;
(b) anggota itu tidak boleh dikira bagi maksud membentuk suatu kuorum Lembaga berhubung dengan perkara itu; dan
(c) tiada tindakan atau prosiding Lembaga boleh ditidaksahkan atas alasan bahawa mana-mana anggota Lembaga telah melanggar peruntukan seksyen ini.
Read this section in the full act → · Open Part IX →
Find Act 671 on lom.agc.gov.my ↗
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).
