ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART IX - INVESTIGATIONS

 
Section 208. Power to require information as to persons interested in shares or debentures.
 
Section 208. Power to require information as to persons interested in shares or debentures. (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) (1) Where it appears to the Minister that there is good reason so to do, he may appoint one or more inspectors to investigate and report on the ownership of any shares in or debentures of a corporation or on the circumstances under which a person acquired or disposed of or became entitled to acquire or dispose of any shares in or debentures of a corporation whether the corporation is a declared company or not.

(2) An inspector may, by notice in writing, require any person whom he has reasonable cause to believe to be capable of giving any information in connection with an investigation conducted under subsection (1) to appear for examination and to give to the inspector any information in connection with the investigation that person has or can reasonably be expected to obtain.

(3) A notice under subsection (2) may require the production of all books and documents relevant to the investigation which are in the custody or under the control of the person to whom the notice is addressed.

(4) An inspector who pursuant to this section requires the production of all books and documents in the custody or power or under the control of an officer or agent of any corporation whose affairs are being investigated under or pursuant to this section—

    (a) may take possession of all such books and documents;

    (b) may retain all such books and documents for such time as he considers to be necessary for the purpose of the investigation; and

    (c) shall permit the corporation to have access at all reasonable times to all such books and documents so long as they are in his possession.

(5) Any person who fails to comply with the requirements of any notice issued under subsection (3) or who fails to give any information required of him under this section, or who in giving any such information makes any statement which he knows to be false in a material particular, or recklessly makes any statement which is false in a material particular, shall be guilty of an offence against this Act.

Penalty: Imprisonment for three years or ten thousand ringgit or both.

(6) No person who is or has formerly been an officer or agent of a corporation the affairs of which are being investigated under this section shall be entitled to refuse to answer any question which is relevant or material to the investigation on the ground that his answer might tend to incriminate him but if he claims that the answer to any question might incriminate him and but for this subsection he would have been entitled to refuse to answer the question shall not be used in any subsequent criminal proceedings except in the case of a charge against him for perjury committed by him in answer to that question.

(7) Except as expressly provided in subsection (5) any person shall be entitled to refuse to answer a question on the ground that the answer might tend to incriminate him.