Malaysia legislation

Section 8

of *UNCLAIMED MONEYS ACT 1965

Section 8

In this Part unless inconsistent with the context or subject-matter—

“company” means a company within the meaning of the

*Companies Act 1965 [Act 125], or a foreign company to which

Division 2 of Part XI of that Act applies, and shall include—

(a)

any Board established to manage employees provident fund superannuation schemes or any other fund relating to retirement benefits;

(b)

all societies and co-operative societies registered under any written law relating to societies or to co-operative societies; and

(c)

all corporations, public authorities and trade unions;

“firm” means an unincorporated body of persons (whether consisting of individuals or of corporations or partly of individuals and

*NOTE—The Companies Act 1965 [Act 125] has been repealed by the Companies Act 2016 [Act 777]

which comes into operation on 31 January 2017―see subsection 620(1) of Act 777.

Unclaimed Moneys 11

partly of corporations) associated together for the purpose of carrying on business;

“officer”—

(a)

in relation to a company includes—

(i)

any director secretary or employee of the company;

and

(ii)

a receiver and manager of any part of the undertaking of the company appointed under a power contained in any instrument, but does not include any receiver who is not also a manager, and any receiver and manager appointed by a court; and

(b)

in relation to a firm includes any partner, member, manager or employee of the firm;

(c)

(Deleted by Act A1161);

“owner” means the person entitled to any unclaimed moneys and includes his executors, administrators or assigns or, in the case of a company within the meaning of the *Companies Act 1965 its liquidators, or his or their lawful attorney or agent in Malaysia.