"  Bank Negara Malaysia  " means the Central Bank of Malaysia established under the Central Bank of Malaysia Act 1958 [ Act 519 ];

"  security  " includes a mortgage or charge, whether legal or equitable, debenture, bill of exchange, promissory note, guarantee, lien or pledge, whether actual or constructive, letter of hypothecation, indemnity, undertaking or other means of securing payment or discharge of debt or liability, whether present or future, or whether vested or contingent;

"  specified  ", where no mode is mentioned, means specified from time to time in writing;

"  prescribed  ", where no mode is mentioned, means prescribed from time to time by order published in the Gazette ; "document" has the same m

3 PART II THE COMMISSION Chapter 1 Establishment-3. Establishment of the Commission.

(1) A body corporate by the name of "Malaysia Co-operative Societies Commission" is established.

(2) The Commission shall have perpetual succession and a common seal, and may sue and be sued in its corporate name.

(3) The Commission, subject to and for the purposes of this Act, upon such terms as it deems fit, may-

(a) enter into contracts;

(b) acquire, purchase, take, hold and enjoy movable and immovable property of every description; and

(c) sell, convey, assign, surrender, yield up, charge, mortgage, demise, reassign, transfer, lease, let, sub-let or otherwise dispose of, or deal with any movable or immovable property or any interest vested in the Commission.

4 PART II THE COMMISSION Chapter 1 Establishment-4. Objects of the Commission.

The objects of the Commission are to-

(a) foster sound and orderly development of co-operative societies and the co-operative sector in accordance with co-operative values and principles to contribute towards achieving the socio-economic objectives of the nation;

(b) promote a financially sound, progressive and resilient co-operative sector; and

(c) maintain confidence in the co-operative movement.

5 PART II THE COMMISSION Chapter 1 Establishment-5. Vesting provisions.

(1) Subject to this Act, the Minister may, by order published in the Gazette , appoint a vesting date and on such date all property, rights and liabilities of-

(a) the Government of Malaysia;

(b) the Registrar-General of Co-operative Societies for Malaysia under the Co-operative Societies Act 1993;

(c) the Registrar of Fishermen's Associations under the Fishermen's Associations Act 1971 [ Act 44 ]; and

(d) the Registrar of Farmers' Organizations under the Farmers' Organization Act 1973 [ Act 109 ], (hereinafter in this section, the persons mentioned in paragraphs (b), (c)

and

(d) collectively referred to as "the transferor") relating to co-operative societies and as specified by the Minister in such order shall, by virtue of this Act, be transferred to and vested in the Commission without any conveyance, assignment or transfer.

6 PART II THE COMMISSION Chapter 1 Establishment-6. Common seal.

(1) The common seal of the Commission may from time to time be broken, changed, altered and made anew as the Commission may think fit.

(2) Until a seal is provided by the Commission, a stamp bearing the words "Malaysia Co-operative Societies Commission" may be used and shall be deemed to be the common seal of the Commission.

(3) The common seal shall be used with the authority of the Board and every instrument to which the common seal is affixed shall be signed by the Executive Chairman or any director and shall be counter signed by the secretary or by a second director or by some other person as may be authorised by the Board and all deeds, documents and other instruments purporting to be sealed with the common seal, authenticated as aforesaid, shall, until the contrary is proven, be deemed to have been validly executed:

Provided that any document or instrument which, if executed by a person not being a body corporate, would no

7 PART II THE COMMISSION Chapter 1 Establishment-7. Power to appoint Attorney.

The Commission may, by instrument under its common seal, appoint a person whether in Malaysia or in a place outside Malaysia to be its Attorney, and the person so appointed may, subject to the instrument, do any act or execute any power or function which he is authorized by the instrument to do or execute.

8 PART II THE COMMISSION Chapter 1 Establishment-8. Power to establish office and subsidiary and to appoint agents.

(1) The Commission may establish an office within Malaysia.

(2) The Commission may establish, within Malaysia, a subsidiary subject to the prior written approval of the Minister, and where the Minister so provides in the terms and conditions of the approval, such subsidiary shall have immunity of the Commission as provided in section 60 in carrying out the powers, duties or functions on behalf of the Commission.

(3) The Commission may appoint and employ agents to manage, administer, transact any business or to do any act required to be transacted or done in the execution of its functions or for the better carrying into effect the purposes of this Act, the Co-operative Societies Act 1993 and any other written law enforced by the Commission.

9 PART II THE COMMISSION Chapter 1 Establishment-9. Appointment of person other than officer or employee.

The Commission may, either generally or in any particular case, appoint any person who is not an officer or employee of the Commission to render such service as it may specify in the exercise of its powers, the performance of its functions, or the discharge of its duties under this Act, the Co-operative Societies Act 1993 and any other written law enforced by the Commission, or to exercise, perform or discharge the same on behalf of and in the name of the Commission.

10 PART II THE COMMISSION Chapter 1 Establishment-10. Commission may establish committee.

(1) The Commission may establish such committee as it considers necessary or expedient to assist it in the performance of its functions under this Act.

(2) The Commission may appoint any person to be a member of any committee established under subsection (1).

(3) A committee may elect any of its members to be chairman and may regulate its own procedure and, in the exercise of its powers under this subsection, such committee shall be subject to and act in accordance with any direction given to the committee by the Commission.

(4) Meetings of a committee shall be held at such times and places as the chairman of the committee may determine.

(5) A committee may invite any person to attend any meeting of the committee for the purpose of advising it on any matter under discussion but the person so invited shall not be entitled to vote.

(6) The members of a committee or any person invited to attend any meeting of the co

11 Chapter 2 Board of directors-11. Duties and composition.

(1) The Commission shall have a board of directors who shall be responsible for the policy and general administration of the affairs and business of the Commission.

(2) The Board may give decisions and exercise all powers and do all acts which may be exercised or done by the Commission.

(3) The Board shall consist of the following directors:

(a) an Executive Chairman appointed by the Yang di-Pertuan Agong;

(b) a Deputy Executive Chairman appointed by the Yang di-Pertuan Agong;

(c) the Governor, or a Deputy Governor or an Assistant Governor of Bank Negara Malaysia as nominated by the Governor;

[(c) Am. Act A1470:s.2]

(d) the Secretary General or a Deputy Secretary General of the Ministry charged with the responsibility for co-operative development as nominated by the Minister;

[(d) Subs. Act A1470:s.2]

12 Chapter 2 Board of directors-12. By-laws of Board.

(1) The Board may make such by-laws as are necessary or expedient in relation to the administration, management, control, business, assets and affairs of the Commission including-

(a) the functions, powers, duties, remuneration, allowance, honorarium, benefits and terms and conditions of service, code of conduct of or surcharge on officers, employees, agents and consultants of the Commission;

(b) the conflicts of interest in respect of directors, officers and employees of the Commission;

(c) the appointment, terms of reference and activities of agents, consultants or committees established by the Commission;

(d) the rules and procedure to be observed by the directors at Board meetings; or

(e) such other matters as may be required to be provided for under by-laws in this Act.

(2) By-laws made under this section shall be binding on all persons to whom the by-laws

13 Chapter 2 Board of directors-13. Tenure of office.

(1) The Executive Chairman and the Deputy Executive Chairman shall each be appointed for a term not exceeding five years and shall be eligible for re-appointment.

(2) The directors who hold appointment as members of the Board in accordance with paragraphs 11(3) (c), (d), (e) and (f) shall be ex-officio members.

(3) Subject to such conditions as may be specified in his instrument of appointment, the tenure of office of a director other than those provided in subsections (1) and (2) shall be for a term not exceeding three years and shall be eligible for re-appointment.

14 Chapter 2 Board of directors-14. Resignation.

A director appointed under paragraph 11(3) (g) may at any time resign his office by a written notice addressed to the Minister.

15 Chapter 2 Board of directors-15. Disqualification and termination of director.

(1) No person shall be appointed, or shall remain, as a director who is an officer of a co-operative society as defined in section 2 of the Co-operative Societies Act 1993.

(2) The Minister may terminate or suspend the appointment of any director if the director-

(a) resigns his office;

(b) becomes of unsound mind or otherwise becomes incapable of carrying out his duties;

(c) has been imposed any form of restriction or supervision by bond or otherwise, under any law relating to prevention of crime, or to preventive detention for prevention of crime or drug trafficking, or to restricted residence, or to banishment or immigration;

(d) becomes a bankrupt or commits an act of bankruptcy as provided for in the Bankruptcy Act 1967 [ Act 360 ];

(e) has been charged for a criminal offence under any written law punishable with imprisonment, whether by itself, or

16 Chapter 2 Board of directors-16. Actions and proceedings of Board not affected by vacancy, etc .

The Board may act notwithstanding any vacancy and its proceedings shall not be invalidated by-

(a) the absence of any director;

(b) any defect afterwards discovered in the appointment or qualification of any director or the constitution of the Board;

(c) any omission, defect or irregularity in the convening or conduct of a meeting; or

(d) the presence or participation of a person who is not a director.

17 Chapter 2 Board of directors-17. Allowance or honorarium.

All directors may be paid such allowance or honorarium as the Minister may determine.

18 Chapter 2 Board of directors-18. Duties of director.

(1) A director shall, at all times, act honestly and in the best interest of the Commission and use reasonable diligence in the discharge of the duties of his office.

(2) A director or any person who has been a director shall not-

(a) make improper use of any information acquired by virtue of his position as a director to gain, directly or indirectly, an advantage for himself or for any other person; or

(b) do, say or publish anything which may be detrimental to the interests of the Commission.

19 Chapter 2 Board of directors-19. Meeting.

(1) The Executive Chairman, or in his absence the Deputy Executive Chairman, shall summon meetings of the Board as often as may be necessary but not less than six times a year.

(2) The quorum for a meeting of the Board shall be five, at least two of whom shall be directors referred to in paragraphs 11(3) (c), (d), (e) and (f).

(3) The Executive Chairman, or in his absence the Deputy Executive Chairman, shall preside at all meetings of the Board.

(4) The decision of the Board shall be adopted by a simple majority of the votes of the directors present and voting.

(5) In the case of an equality of votes, the chairman shall have a casting vote.

(6) A resolution in writing, signed by all the directors for the time being entitled to receive notice of a meeting of the Board, shall be as valid and effectual as if it had been passed at a meeting of the Board duly convened and held and any such resolution

20 Chapter 2 Board of directors-20. Board may invite others to meeting.

(1) The Board may invite any person to attend any meeting of the Board for the purpose of advising it on any matter under discussion but the person so invited shall not be entitled to vote.

(2) The person so invited to attend any meeting of the Board may be paid such allowances and other expenses as the Commission may determine.

21 Chapter 2 Board of directors-21. Disclosure of interest.

(1) A director, or a member of a committee, who has or acquires, a direct or indirect, interest in relation to any matter under discussion by the Board or committee shall disclose to the Board or committee, as the case may be, the existence of his interest and nature thereof.

(2) A disclosure under subsection (1) shall be recorded in the minutes of the Board or committee, as the case may be, and after the disclosure, the director or member of the committee shall-

(a) not take part nor be present in any deliberation or decision of the Board or committee, as the case may be; and

(b) be disregarded for the purpose of constituting a quorum of the Board or committee, as the case may be, relating to the matter.

(3) No act or proceedings of the Board or committee shall be invalidated on the ground that any director or any member of the committee has contravened the provisions of this section.

22 Chapter 2 Board of directors-22. Minutes of meeting.

(1) The Board or committee shall cause minutes of all their meetings to be maintained and kept in a proper form.

(2) Any minutes of meetings of the Board or any committee established under section 10, if duly signed, shall, in any legal proceedings, be admissible as prima facie evidence of the facts stated therein and every meeting of the Board or committee in respect of the proceedings of which minutes have been so made shall be deemed to have been duly convened and held and all members thereat to have been duly qualified to act.

23 PART III POWERS OF THE COMMISSION-23. Powers and functions of the Commission.

The Commission shall have all powers, functions and duties imposed on it under this Act, the Co-operative Societies Act 1993 or any other written law, and without prejudice to the generality of the foregoing, the Commission shall also have the following functions:

(a) to promote and maintain stability of the co-operative sector;

(b) to be responsible for the surveillance, supervision and regulation of co-operative societies and the co-operative sector;

(c) to encourage and promote sound and orderly development of co-operative societies and the co-operative sector;

(d) to foster co-operative values and principles;

(e) to create a conducive environment for co-operative societies to carry out their activities;

(f) to register and revoke the registration of co-operative societies;

(g) to act as trustee and to manage any scheme of Islamic f

24 PART III POWERS OF THE COMMISSION-24. Delegation of Commission's power or function.

(1) The Commission may, except the power to make subsidiary legislation, delegate any of its powers or functions under this Act, the Co-operative Societies Act 1993 or any other written law to the Executive Chairman, the Deputy Executive Chairman or to any committee established under section 10.

(2) Any power or function delegated under this section-

(a) may be so delegated subject to such conditions or restrictions as the Commission may either generally or specifically impose; and

(b) shall be exercised by the Executive Chairman, the Deputy Executive Chairman or committee in the name and on behalf of the Commission.

(3) A delegation under this section shall not preclude the Commission from performing or exercising at any time any of the powers or functions so delegated.

(4) The Executive Chairman may authorize or instruct any officer or employee of the Commission to exercise any of the powers o

25 PART III POWERS OF THE COMMISSION-25. Power of the Minister to give directive and require information.

(1) The Minister may give to the Commission any directive of a general character not inconsistent with this Act relating to the functions of the Commission and such directive shall be binding on the Commission.

(2) The Commission shall furnish the Minister with such returns, statistics, accounts, documentation or information with respect to the performance of any of its functions or exercising of its duties under this Act as the Minister may require.

26 PART III POWERS OF THE COMMISSION-26. Power to consult the Syariah Advisory Council.

(1) The Commission shall consult the Syariah Advisory Council on Syariah matters relating to any co-operative business which is based on Syariah and may issue written directive in relation to such business in accordance with the advice of the Syariah Advisory Council.

(2) Where in any proceedings relating to co-operative business which is based on Syariah and is supervised and regulated by the Commission before any court or arbitrator, any question arises concerning a Syariah matter, the court or the arbitrator, as the case may be, may-

(a) take into consideration any written directive issued by the Commission pursuant to subsection (1); or

(b) refer such question to the Syariah Advisory Council for its ruling.

(3) Any ruling made by the Syariah Advisory Council pursuant to a reference made under paragraph (2) (b) shall, for the purposes of the proceedings in respect of which the reference was m

27 PART IV PROVISIONS RELATING TO OFFICER AND EMPLOYEE-27. Officer and employee of the Commission.

(1) The Commission may appoint and employ persons to be its officers and employees as it considers to be necessary for the efficient conduct of the business and affairs of the Commission, proper administration of this Act, the Co-operative Societies Act 1993 or any other written law enforced by the Commission:

Provided that the Commission shall, on the appointed date, accept into its employment every person who immediately before that date was employed by the Government of Malaysia for the purposes of implementing the Co-operative Societies Act 1993 and who was given an option by the Government of Malaysia and has opted to serve as an officer or employee of the Commission.

(2) Every such person who opts under subsection (1) to serve as an officer or employee of the Commission shall be employed by the Commission on terms and conditions of service not less favourable from the terms and conditions of service to which he was entitled immedi

28 PART IV PROVISIONS RELATING TO OFFICER AND EMPLOYEE-28. Financial assistance to officer, employee and other persons.

The Commission may provide-

(a) subsidy, grant, Islamic financing or credit facility, with or without return or interest, to its officers and employees;

or

(b) Islamic financing or credit facility, with or without return or interest, for educational purposes or scholarships to its officers and employees or any other persons, on such terms and conditions as the Commission may determine.

29 PART IV PROVISIONS RELATING TO OFFICER AND EMPLOYEE-29. Application of Statutory Bodies (Discipline and Surcharge) Act 2000.

(1) The Statutory Bodies (Discipline and Surcharge) Act 2000 [ Act 605 ] shall apply to the Commission.

(2) Without prejudice to anything contained in the Statutory Bodies (Discipline and Surcharge) Act 2000, an officer or employee of the Commission shall, at all times, act in good faith and comply with such functions and duties as may be provided in the by-laws issued by the Board under paragraph 12(1) (a) .

30 PART IV PROVISIONS RELATING TO OFFICER AND EMPLOYEE-30. Continuation and completion of disciplinary proceedings.

(1) Where on the appointed date, disciplinary proceedings are pending or exist against any officer or employee of the Government who has opted into the service of the Commission, such proceedings shall be continued and completed by the Commission, and the law applicable to such officer or employee immediately before the appointed date in relation to such proceedings shall apply to the proceedings continued and completed under this section.

(2) An order, ruling or direction made or given by a disciplinary authority of the Commission pursuant to this section shall, in respect of such officer or employee, have the same force and effect as an order, ruling or direction made or given by the Disciplinary Authority, Disciplinary Board or Disciplinary Appeal Board, as the case may be, under the laws referred to in subsection (1).

(3) Subsection 61(1) shall not apply to the disclosure by the Commission of any record, book, register, corresponden

31 PART V FINANCE Chapter 1 Finance-31. Capital.

(1) The authorized capital of the Commission shall be three hundred million ringgit.

(2) Fifty million ringgit of the authorized capital shall be subscribed and paid up by the Government on the establishment of the Commission.

(3) The paid-up portion of the authorized capital may be increased by such amount as the Minister may approve from time to time and the Government shall subscribe and pay the amount of the increase to the Commission:

Provided that the payment of the increase in capital may be made by way of transfer from the General Reserve Fund as the Minister may from time to time approve.

32 PART V FINANCE Chapter 1 Finance-32. General Reserve Fund.

(1) A General Reserve Fund of the Commission is established.

(2) At the end of each financial year, the net profit of the Commission for that year shall be determined after allowing for the expenses of operation and after provision has been made for bad and doubtful debts, depreciation in assets, contributions to staff and pension funds and such other contingencies as are usually provided for by the Commission.

(3) The net profit of the Commission shall be placed to the credit of the

33 PART V FINANCE Chapter 1 Finance-33. Annual Government grant.

The Government shall annually grant a sum of money to the Commission for the purpose of meeting the cost of operation of the Commission.

34 PART V FINANCE Chapter 1 Finance-34. Operating fund.

(1) An operating fund, to be administered and controlled by the Commission, is established.

(2) The operating fund shall consist of all moneys-

(a) received by the Commission by way of grants from the Government;

(b) received by the Commission as fees and payment of compounds;

(c) received by the Commission for services rendered by the Commission to the Government or for services rendered by the Commission to any person;

(d) derived as income from investments by the Commission;

(e) derived from the disposal, lease or hire of, or any other dealing with any property vested in or acquired by the Commission;

(f) borrowed or raised by the Commission under section 35;

and

(g) which may in any manner become payable to or vested in the Commission in respect of any matter incidental to its functions and powers or otherwise lawfu

35 PART V FINANCE Chapter 1 Finance-35. Power to borrow or raise fund.

The Commission may, from time to time, with the prior written approval of the Minister and the Minister of Finance, raise funds as follows:

(a) borrow money from the Government, agencies of the Government or any other person; or

(b) issue bonds, debentures, debenture stocks or such other securities, in such manner as the Commission thinks fit or upon such terms and conditions as it deems expedient for meeting any of its obligations or performing any of its functions, powers or duties under this Act.

36 PART V FINANCE Chapter 1 Finance-36. Power to lend.

In the exercise of its powers and functions under this Act, the Commission may provide Islamic financing or credit facility to any person on such terms and conditions as it deems fit with the approval of the Minister and the Minister of Finance.

37 PART V FINANCE Chapter 1 Finance-37. Investment.

The moneys of the Commission including the money in the operating fund or any money held by the Commission pursuant to section 41, may, in so far as they are not required to be expended or utilized by the Commission under this Act, be invested in such manner as the Commission deems fit with the approval of the Minister and the Minister of Finance.

38 Chapter 2 Account and report-38. Requirements to keep book, record, account, etc .

The Commission shall cause proper books, records and accounts to be kept and shall, as soon as practicable after the end of each financial year, cause to be prepared for that financial year a statement of account of the Commission which shall include a balance sheet and account of income and expenditure.

39 Chapter 2 Account and report-39. Reporting requirement.

(1) The Commission shall, as soon as possible after the close of its financial year, send to the Minister-

(a) a copy of its statement of accounts certified by the Auditor General and a copy of the Auditor General's report; and

(b) an annual report on the working of the Commission under this Act during the financial year.

(2) The Minister shall, as soon as may be, table a copy of the statement of accounts certified by the Auditor General, a copy of the Auditor General's report and the annual report before the Dewan Rakyat and Dewan Negara.

(3) The Statutory Bodies (Accounts and Annual Reports) Act 1980 [ Act 240 ] shall apply to the Commission subject to the provisions of this Act.

40 Chapter 2 Account and report-40. Financial year.

Unless otherwise directed by the Minister, the financial year of the Commission shall begin on the first day of January and end on the thirty-first day of December of each year.

41 Chapter 3 Fund-41. Maintenance of fund and account.

(1) In this Chapter-

"Co-operative Deposit Account" means an account established under section 43;

"Co-operative Societies Liquidation Account" means the trust account determined by the Commission under subsection 75(4) of the Co-operative Societies Act 1993 where the funds of any dissolved co-operative society are held pursuant to subsection 75(7) of the Co-operative Societies Act 1993 pending their distribution to the beneficiaries in accordance with the scheme approved by the Commission;

"Central Liquidity Fund" means the fund established under section 42 to provide liquidity support to a co-operative society experiencing unusual or unexpected liquidity shortfalls;

"Co-operative Development Trust Fund" means the fund established, held, administered and used pursuant to the Co-operative Societies (Co-operative Development Trust Fund) Regulations 1996 [ P.U. (A) 622/1996 ];

"Co-operative Education Trust F

42 Chapter 3 Fund-42. Central Liquidity Fund.

(1) The Commission may require any co-operative society or any class, category or description of co-operative society by order in writing to contribute to the

(2) Any co-operative society required by the Commission to contribute to the Central Liquidity Fund under subsection (1) shall pay to the Commission or to its agent as specified in the order such amount of contribution or such rate of contribution as a percentage of its share capital, subscription capital, assets or liabilities or a combination thereof as may be determined by the Commission from time to time not later than such date as may be specified in the order.

(3) The Commission may, with prior written approval of the Minister, make regulations on the scope, operation and management of the

43 Chapter 3 Fund-43. Co-operative Deposit Account.

(1) Within two years of coming into operation of this section or such longer period not more than five years as may be permitted in writing by the Commission, all co-operative societies shall deposit their funds not immediately needed for operations or investments into the

(2) The Commission may, with prior written approval of the Minister, make regulations on the scope, operation and management of the

44 PART VI INVESTIGATION, SEARCH AND SEIZURE-44. Application of this Part.

This Part shall apply to offences committed by any person under this Act, the Co-operative Societies Act 1993, any other written law enforced by the Commission, regulations, orders and directives made under these Acts or such written law.

45 PART VI INVESTIGATION, SEARCH AND SEIZURE-45. Appointment, power, function and duty of investigating officer.

(1) For the purposes of this Part, the Commission may appoint any officer or employee of the Commission or any person appointed under section 9 to be an investigating officer.

(2) Subject to subsection (3), an investigating officer appointed under subsection (1) shall have all the powers, functions and duties conferred on an investigating officer under this Act, and where such investigating officer is not an officer or employee of the Commission, he shall, in relation to such powers, functions and duties-

(a) be subject to; and

(b) enjoy such rights, privileges, protections, immunities and indemnities as may be specified in, the provisions of this Act, the Co-operative Societies Act 1993 or any other written law enforced by the Commission applicable to an officer or employee of the Commission as if he were an officer or employee of the Commission.

(3) An investigating officer shall be subject to the dir

46 PART VI INVESTIGATION, SEARCH AND SEIZURE-46. Powers of entry, search and seizure.

(1) Where an investigating officer is satisfied or has any reason to believe that any person has committed an offence under this Act, the Co-operative Societies Act 1993 or any other written law enforced by the Commission, he may, if in his opinion it is reasonably necessary to do so for the purpose of investigating into such offence-

(a) enter any premises and there search for, seize and detain any property, book or other document;

(b) inspect, make copies of, or take extracts from, any book or other document so seized and detained;

(c) take possession of, and remove from the premises, any property, book or other document so seized and detained;

(d) search any person who is in, or on, such premises, and for the purpose of such search detain such person and remove him to such place as may be necessary to facilitate such search, and seize and detain any property, book or other document

47 PART VI INVESTIGATION, SEARCH AND SEIZURE-47. Search of person.

(1) An investigating officer may search any person whom he has reason to believe has in his possession any property, book or other document, or other article whatsoever, necessary, in his opinion, for the purpose of investigation into any offence under this Act, the Co-operative Societies Act 1993 or any other written law enforced by the Commission, and for the purpose of such search may detain such person for such period as may be necessary to have the search carried out, which shall not in any case exceed twenty-four hours without the authorization in writing of a Magistrate, and may remove him in custody to such place as may be necessary to facilitate such search.

(2) An investigating officer making a search of a person under subsection (1) may seize, detain or take possession of any property, book, document or article, found upon such person for the purpose of the investigation being carried out by him.

(3) No female person shall be

48 PART VI INVESTIGATION, SEARCH AND SEIZURE-48. Obstruction to exercise of power by investigating officer.

No person shall-

(a) refuse any investigating officer exercising his powers under section 46 or 47, access to any premises or part thereof, or fail to submit to the search of his person;

(b) assault, obstruct, hinder or delay such investigating officer in effecting any entrance which he is entitled to effect;

(c) fail to comply with any lawful demand of any investigating officer in the execution of his duties under section 46 or 47;

(d) refuse to give to an investigating officer any information which may reasonably be required of him and which he has it in his power to give;

(e) fail to produce to, or conceal or attempt to conceal from, an investigating officer, any property, book, other document or article in relation to which the investigating officer has reasonable grounds for suspecting that an offence has been or is being committed under this Act, the Co-operative

49 PART VI INVESTIGATION, SEARCH AND SEIZURE-49. Requirement to provide translation.

(1) Where an investigating officer finds, seizes, detains, or takes possession of, any book or other document in the exercise of any power under this Part, and such book or other document or any part thereof is in a language other than the national language or the English language, or in any sign or code, the investigating officer may in writing require the person who had the possession, custody or control of such book or other document to furnish to the investigating officer a translation in the national language of such book or other document within such period as, in the opinion of the investigating officer, would be reasonable having regard to the length of the book or other document, or other circumstances relating to it.

(2) No person shall knowingly furnish a translation under subsection (1) which is not an accurate, faithful and true translation, or knowingly make a translation under that subsection which is not accurate, faithful and t

50 PART VI INVESTIGATION, SEARCH AND SEIZURE-50. Power to examine person.

(1) Where an investigating officer suspects any person to have committed an offence under this Act, the Co-operative Societies Act 1993 or any other written law enforced by the Commission, he may, if in his opinion it is reasonably necessary to do so for the purposes of investigation into such offence-

(a) order any person in writing to attend before him for the purpose of being examined by the investigating officer in relation to any matter which may, in the opinion of the investigating officer, assist in the investigation into the offence;

(b) order any person in writing to produce before the investigating officer books, other documents, properties, articles or things which may, in the opinion of the investigating officer, assist in the investigation into the offence; or

(c) by written notice require any person to furnish a statement in writing made on oath or affirmation setting out therein all such

51 PART VI INVESTIGATION, SEARCH AND SEIZURE-51. Specific person in respect of whom power of investigation may be exercised.

(1) For the purpose of this section-

"related", in relation to a body corporate, means related within the meaning of section 6 of the Companies Act 1965;

"interest in the share" has the same meaning as in the Companies Act 1965;

"relative", in relation to a person, means-

(a) the spouse of the person;

(b) the brother or sister of the person;

(c) the brother or sister of the spouse of the person;

(d) any lineal ascendant or descendant of the person;

(e) any lineal ascendant or descendant of the spouse of the person;

(f) the spouse of any person referred to in paragraph (b) , (c) , (d) or (e) ;

(g) any lineal descendant of a person referred to in paragraph (b), (c) or (f) ;

(h) any uncle, aunt or cousin of the person, or of the spouse of the person

52 PART VI INVESTIGATION, SEARCH AND SEIZURE-52. Assistance to police, public officer, etc .

The Commission may at its own initiative, or on the request of a police officer, public officer, authority or person having power to investigate under, or enforce the provision of any law-

(a) supply-

(i) a copy of any book or other document seized, detained or taken possession of under section 46 or 47;

(ii) any record of examination under paragraph 50(1) (a);

(iii) any written statement on oath or affirmation made under paragraph 50(1) (c) ; or

(iv) any book or other document produced under paragraph 50(1) (b) or otherwise in the course of any examination under paragraph 50(1) (a) , and such police officer, public officer, authority or person having power to investigate under, or enforce the provision of such law, may make such use of such copy of such record, statement, book or other document as may be necessary or expedient in relation to the exercise of his powers, the

53 PART VI INVESTIGATION, SEARCH AND SEIZURE-53. Joinder of offences.

Notwithstanding anything contained in any other written law, where a person is accused of more than one offence under this Act, the Co-operative Societies Act 1993 or any other written law enforced by the Commission, he may be charged with and tried at one trial for any number of such offences committed within the space of any length of time.

54 PART VI INVESTIGATION, SEARCH AND SEIZURE-54. Offence to be seizable offence.

Every offence punishable under this Act, the Co-operative Societies Act 1993 or any other written law enforced by the Commission shall be a seizable offence, and a police officer not below the rank of Inspector, or an investigating officer appointed under subsection 45(1) may arrest without warrant any person whom he reasonably suspects to have committed or to be committing any such offence.

55 PART VII GENERAL-55. Specific offence.

(1) Any co-operative society who fails to comply with the requirements under subsections 42(2) and 43(1) shall be guilty of an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit and shall in addition, be liable to a daily fine not exceeding five thousand ringgit for every day the offence continues.

(2) Any person who fails to comply with the requirements under section 48 or subsections 49(1), 49(2) or 50(2) shall be guilty of an offence and shall, on conviction, be liable to a fine not exceeding one million ringgit or to imprisonment not exceeding two years or to both and shall in addition, be liable to a daily fine not exceeding ten thousand ringgit for every day the offence continues.

56 PART VII GENERAL-56. Power of Commission to compound offence.

(1) The Executive Chairman may, with the consent of the Public Prosecutor in writing, compound any offence committed by any person which is punishable under this Act, by making a written offer to such person to compound the offence by paying to the Commission within such time as may be specified in the offer such sum of money which shall not exceed fifty per centum of the amount of the maximum fine (including the daily fine, if any, in the case of a continuing offence) to which that person would have been liable if he had been convicted of the offence.

(2) Any money paid to the Commission pursuant to the provisions of subsection (1) shall be paid into and form part of the operating fund of the Commission.

(3) An offer under subsection (1) may be made at any time after the offence has been committed but before any prosecution for it has been instituted, and where the amount specified in the offer is not paid within the time specified in

57 PART VII GENERAL-57. Duty of investigating officer to make over arrested person to police.

An investigating officer appointed under subsection 45(1) making an arrest under section 54 shall without unnecessary delay make over the person so arrested to the nearest police officer or, in the absence of a police officer, take such person to the nearest police station, and thereafter the person arrested as aforesaid shall be dealt with as provided by the law relating to criminal procedure for the time being in force as if he had been arrested by a police officer.

58 PART VII GENERAL-58. Public servant.

All directors, members of a committee of the Commission, officers or employees of the Commission or investigating officers while discharging their duties as such a director, member, officer, employee or investigating officer shall be deemed to be public servants within the meaning of the Penal Code [ Act 574 ].

59 PART VII GENERAL-59. Public Authorities Protection Act 1948.

The Public Authorities Protection Act 1948 [ Act 198 ] shall apply to any action, suit, prosecution or proceedings against the Commission, officers, employees or agents of the Commission in respect of any act, neglect or default done or committed by him in such capacity or in the capacity of the officers or employees as described in the laws specified in the Co-operative Societies Act 1993.

60 PART VII GENERAL-60. Immunity.

(1) No action, suit, prosecution or other proceeding whatsoever shall lie or be brought, instituted, or maintained in any court or before any other authority against-

(a) the Government of Malaysia or State Government;

(b) the Commission;

(c) any director, officer or employee of any such Government or of the Commission, either personally or in his official capacity; or

(d) any person lawfully acting on behalf of any such Government, Commission, officer or employee, either personally or in his capacity as a person acting on such behalf, for or on account of, or in respect of, any act done or statement made or omitted to be done or made, or purporting to be done or made or omitted to be done or made, in pursuance or in execution of, or intended pursuance or execution of, this Act, the Co-operative Societies Act 1993 or any other written law enforced by the Commission, or any order in wri

61 PART VII GENERAL-61. Preservation of secrecy.

(1) No director, officer, employee, agent or consultant of the Commission or any person who for any reason, has by any means access to any record, book, register, correspondence, document whatsoever, material or information, relating to the business and affairs of the Commission which he has acquired in the performance of his duties or the exercise of his functions, shall give, divulge, reveal, publish or otherwise disclose to any person, such document, material or information unless the disclosure is required or authorized-

(a) under this Act, the Co-operative Societies Act 1993 or any other written law enforced by the Commission, regulations, orders, directives or guidelines issued under this Act, the Co-operative Societies Act 1993 or any other written law enforced by the Commission;

(b) under any written law;

(c) by any court; or

(d) for the performance of his duties or the exercis

62 PART VII GENERAL-62. Institution of prosecution.

(1) Any officer or employee of the Commission authorized in writing by the Commission may, with the consent of the Public Prosecutor in writing, prosecute in any court any case in respect of any offence committed under this Act, the Co-operative Societies Act 1993 or any other written law enforced by the Commission.

(2) For the purpose of section 380 of the Criminal Procedure Code, an officer or employee of the Commission authorized under subsection (1) shall be deemed to be a public officer.

62A PART VII GENERAL-62A. Representation in civil proceedings.

Notwithstanding the provisions of any other written law:

(a) in any civil proceedings by or against the Commission; or

(b) in any other civil proceedings in which the Commission is required or permitted by the court to be represented, or to be heard, or is otherwise entitled to be represented or to be heard,

any officer of the Commission authorized by the Executive Chairman for that purpose may, on behalf of the Commission, institute such proceedings or appear in such proceedings and may make all appearances and applications and do all acts in respect of the proceedings on behalf of the Commission.

[62A. Ins. Act A1470:s.3]

63 PART VII GENERAL-63. Power to make regulations.

The Commission may, with prior written approval of the Minister, make regulations for carrying into effect the objects of this Act or any provision of this Act and for prescribing anything which under this Act is to be prescribed.