Malaysia legislation
Section 22
Section 22
(2)
If a declaration is made under subsection (1), the Lembaga shall also determine the manner, amount and time for crediting such distributable profit to each depositor.
(3)
No distributable profit shall be declared unless the Lembaga has first established a Reserve Fund, and no distributable profit shall be declared in any year unless at the end of that year—
22 Laws of Malaysia ACT 535
(a)
the assets of the Fund were not less than the aggregate liabilities of the Fund, amounts due to depositors being calculated as if immediately payable; and
(b)
the assets of the Reserve Fund were not less than such percentage of the amounts actually standing to the credit of the depositors as at the end of that year including the distributable profit, as the Treasury may approve.
(4)
Any payment required to be made out of the Fund for the purposes of this section shall, in so far as the moneys in the Fund are insufficient for that purpose, be made out of the Reserve Fund.
(5)
Any decision by the Lembaga in respect of the amount of distributable profit to be apportioned to a depositor shall be final and binding on the depositor and a certificate by the Chief Executive
Officer shall be conclusive evidence of the distributable profit apportioned to the depositor.
Unclaimed moneys