Section 598. Prosecution of delinquent officers of company

(1) This section applies where a moratorium has been obtained for a company or the approval of a voluntary arrangement in relation to a company has taken effect.

(2) If it appears to the nominee or supervisor that any past or present officer of the company has been guilty of any offence in connection with the moratorium or voluntary arrangement, as the case may be, for which he is criminally liable, the nominee or supervisor shall within fourteen days—

(a) report the matter to the Registrar; and

(b) provide the Registrar with such information and give the Registrar such access to and facilities for inspecting and taking copies of documents, being information or documents in the possession or under the control of the nominee or supervisor and relating to the matter in question, as the Registrar requires.

3) If a report is made to the Registrar under subsection (2), the Registrar may require an investigation to be carried out for the purpose of investigating the matter reported to the Registrar and such other matters relating to the affairs of the company.

(4) If the Registrar or any person institutes criminal proceedings following any report under subsection (2), the nominee or supervisor, and every past and present officer and agent of the company shall give the Registrar all assistance in connection with the criminal proceedings which the past and present officer and agent of the company is reasonably able to give.

(5) Any person who contravenes subsection (2) commits an offence and shall, on conviction, be liable to imprisonment for a term not exceeding one year or to a fine not exceeding five hundred thousand ringgit or to both.

(6) For the purposes of this section, “agent” includes any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company.