Central Bank of Malaysia Act 2009 s 20
s 20 Disclosure of interest
(1) A director who has any direct or indirect interest in any dealing or business with the Bank or in the exercise or proposed exercise by the Bank of a power shall disclose that interest at the first meeting of the Board at which he is present after the relevant facts have come to his knowledge.
(2) A disclosure under subsection (1) shall be recorded in the minutes of the meeting of the Board and, after the disclosure, the director—
(a) shall not be present at, or take part in, any deliberation or decision of the Board with respect to that dealing or business or the exercise or proposed exercise of the power; and
(b) shall be disregarded for the purpose of constituting a quorum of the Board for any such deliberation or decision.
(3) No act or proceeding of the Board shall be invalidated on the ground of the contravention of subsection (1) by a director.
(4) A director who fails to comply with subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit.
Malay text (authoritative)
Penzahiran kepentingan
(1) Seseorang pengarah yang mempunyai apa-apa kepentingan secara langsung atau tidak langsung dalam apa-apa urus niaga atau urusan dengan Bank atau dalam penjalanan atau cadangan penjalanan kuasa oleh Bank hendaklah menzahirkan kepentingan itu pada mesyuarat pertama Lembaga yang dihadirinya selepas fakta yang berkaitan sampai ke pengetahuannya.
(2) Penzahiran di bawah subseksyen (1) hendaklah direkodkan dalam minit mesyuarat Lembaga itu dan, selepas penzahiran itu, pengarah itu—
(a) tidak boleh hadir pada, atau mengambil bahagian dalam, apa-apa pertimbangtelitian atau keputusan Lembaga berhubung dengan urus niaga atau urusan itu atau penjalanan atau cadangan penjalanan kuasa itu; dan
(b) tidak boleh diambil kira bagi maksud membentuk kuorum Lembaga bagi apa-apa pertimbangtelitian atau keputusan itu.
(3) Tiada tindakan atau prosiding Lembaga boleh menjadi tidak sah atas alasan pelanggaran subseksyen (1) oleh seseorang pengarah.
(4) Seseorang pengarah yang tidak mematuhi subseksyen (1) melakukan suatu kesalahan dan boleh, apabila disabitkan, didenda tidak melebihi satu juta ringgit.
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Find Act 701 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).
