eKTP 24

Show me your ID and Documents!
The Registrar of Unclaimed Moneys Act 1965
Part 2 of 2

eKTP_Post_24.png

Inspection of the Records of Company under the Unclaimed Moneys Act 1965 (UMA) 


Section 12 of the UMA authorises the Registrar or any person authorised by him to carry out inspection of the records kept by a company to ascertain whether a company is complying with the provisions of the UMA. They have the rights to seize any books, registers, records or documents in order to furnish evidence of non-compliance of the UMA by the company.

Two important documents to get before they can carrying out the inspection:

  1. Authority Warrant - written authorisation by the Registrar to the authorised officer to carry out the inspection of the records of the company.

  2. Secrecy Declaration - the authorised officer needs to sign this form before carrying out the inspection of the records of the company to ensure that the information given by the company will not be disclosed to a third party.

Beware, it is an offence if you refuse to produce records or correct errors and obstruction to the inspection process, and if found guilty, an individual can be subject to a fine not exceeding RM5,000 or to imprisonment for a term not exceeding three months or both.

 

Click below link for more information:

Link →