Section 377. Notice of appointment of receiver or receiver and manager

(1) If any person—

(a) obtains an order for the appointment of a receiver or receiver and manager of the property of a company or of the property within Malaysia of any other corporation; or

(b) appoints a receiver or receiver and manager under any powers contained in any instrument,

he shall lodge with the Registrar in a notice of appointment of that fact, within seven days from the date he obtained the order or made the appointment.

(2) Any person who contravenes this section commits 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.