ACT 125

COMPANIES ACT 1965 (REVISED - 1973)

PART V - MANAGEMENT AND ADMINISTRATION

DIVISION 2 - DIRECTORS AND OFFICERS

Section 130. Power to restrain certain persons from managing companies.

(1) Where a person is convicted whether within or without Malaysia— (a) of any offence in connection with the promotion formation or management of a corporation; (b) of any offence involving fraud or dishonesty punishable on conviction with imprisonment for three months or more; or (c) of any offence under section 132, 132A or 303, and that person, within a period of five years after his conviction or, if he is sentenced to imprisonment, after his release from prison, without the leave of the Court is a director or promoter of or is in any way whether directly or indirectly concerned or takes part in the management in Malaysia of a corporation he shall be guilty of an offence against this Act. Penalty: Imprisonment for five years or one hundred thousand ringgit or both. (2) A person intending to apply for the leave of the Court under this section shall give to the Registrar not less than ten days' notice of his intention so to apply and the Registrar shall be made a party to the proceedings. (3) On the hearing of any application under this section the Registrar may oppose the granting of the application.