Malaysia legislation
Section 54
Section 54
(a)
any financial institution licensed under the Banking and Financial Institutions Act 1989;
(b)
any financial institution established by the Federal Government;
(c)
any registered society approved by the Registrar-General by notification in the Gazette;
(d)
any bonds or securities issued in Malaysia and approved by Bank Negara Malaysia;
(e)
new shares, the issue or sale of which has been approved under the Securities Industry Act 1983, in any public limited company incorporated in Malaysia which is already listed on a stock exchange in Malaysia or the listing of which on a stock exchange in
Co-operative Societies
Malaysia has been approved under the Securities Industry Act 1983; or
(f)
such other investments and securities as are for the time being authorised under any written law for the investment of trust funds.
(2)
No registered society shall invest its surplus funds in any other mode, except, with the approval of the Registrar-General, in—
(a)
the shares or securities of any other registered society;
(b)
the share capital or convertible or redeemable debenture stocks of any company other than those specified in subsection (1); or-
(c)
in its subsidiaries.
(3)
No registered society shall invest its funds under paragraphs (1)(e) and (1)(f) and subsection (2) exceeding a limit which shall be determined by its general meeting.
AA963
for any body corporate registered in malaysia d/AA963