Frequently Asked Question
Under the Malaysian Palm Oil Board Act 1998, Malaysian Palm Oil Board (Registration of Contracts) Regulations 2005:
Registration of Contract
3. (1) Every licensee shall register every contract of oil palm products other than a contract of palm oleochemicals entered into by him, with the Board by means of telex, facsimile, electronic mail or telephone before 3.00 p.m. on the working day following which day such contract is made or executed, whichever is earlier, and before 11.00 a.m. if that working day falls on a Thursday for states which have Friday as the weekend holiday or Saturday for states which have Sunday as the weekend holiday.
(6) Any person who fails to comply with this regulation commits an offence and shall be liable on conviction to a fine not exceeding one hundred thousand ringgit or to imprisonment for a term not exceeding two years or to both.