Section 218. Prohibition against improper use of property, position, etc.

(1) A director or officer of a company shall not, without the consent or ratification of a general meeting—

(a) use the property of the company;

(b) use any information acquired by virtue of his position as a director or officer of the company;

(c) use his position as such director or officer;

(d) use any opportunity of the company which he became aware of, in the performance of his functions as the director or officer of the company; or

(e) engage in business which is in competition with the company,

to gain directly or indirectly, a benefit for himself or any other person, or cause detriment to the company.

(2) Any person who contravenes this section commits an offence and shall, on conviction, be liable to imprisonment for a term not exceeding five years or a fine not exceeding three million ringgit or to both.