Section 362. Company to keep instruments of charges and register of charges

(1) Every company shall cause the instrument creating any charge requiring registration under this Subdivision or a copy of such instrument to be kept at the registered office of the company.

(2) For the purposes of subsection (1), in the case of a series of debentures, the keeping of a copy of one debenture of the series shall be sufficient.

(3) Every company shall keep at the registered office of the company a register of charges and enter in the register all charges specifically affecting property of the company and all floating charges on the undertaking or any property of the company, giving in each case—

(a) a short description of the property charged;

(b) the amount of the charge; and

(c) the names of the persons entitled to the charge except in the case of securities to the bearer.

(4) The instruments or copies of such instruments and the register of charges kept under this section shall be open for inspection by—

(a) any creditor or member of the company for a fee of five ringgit; or

(b) any other person on payment of such fee not exceeding ten ringgit for each inspection as is fixed by the company.

(5) Any person shall be, on an application to a company and upon payment of a fee not exceeding ten ringgit as is fixed by the company for every page, be furnished with a copy of any instrument of charge or debenture kept by the company under this section within three days of his making the application.

(6) The company and every officer who contravene this section commit an offence and shall, on conviction, be liable to a fine not exceeding fifty thousand ringgit, and in the case of a continuing offence, to a further fine not exceeding five hundred ringgit for each day during which the offence continues after conviction.