Gopal Sri Ram JCA:

[1] On 8 August 1986 Bank Negara, acting under the powers conferred upon it by reg 8(1) of the Essential (Protection of Depositors) Regulation 1986 ('the Regulations'), issued the Essential (Protection of Depositors) (No 14 Order 1986 ('the Order'). That Order reads as follows:

ESSENTIAL (PROTECTION OF DEPOSITORS) REGULATIONS 1986

ESSENTIAL (PROTECTION OF DEPOSITORS) (No 14 ORDER 1986)

In exercise of the powers conferred by reg 8 of the Essential (Protection of Depositors) Regulations 1986, the Governor of the Central Bank of Malaysia makes the following order:

1. This Order may be cited as the Essential (Protection of Depositors) (No 14 Order 1986) and shall come into force on the date of its publication in the Gazette.

2. Each of the persons named or described in the Schedule is hereby required to comply with the following:

(a) to disclose to the Central Bank of Malaysia on or before the 15 August 1986 the value, nature and whereabouts of any monies, properties and assets owned beneficially by Koperasi Sepadu Berhad (hereinafter referred to as "the Society") whether in the name of any corporation in which the Society has an interest in shares or in the name of