Malaysia legislation

Section 52

of *DEVELOPMENT FINANCIAL INSTITUTIONS ACT 2002

Section 52

Application of a trust fund in a winding up

(2)

Unless the Minister otherwise approves, where the assets of a trust fund exceeds its liabilities, the surplus assets shall not be applied to meet the liabilities of other trust funds which are deficient.

(3)

Any person who contravenes subsection (1) or (2) commits an offence and shall on conviction be liable to imprisonment for a term not exceeding eight years or to a fine not exceeding twenty-five million ringgit or to both.

Section 52 — DEVELOPMENT FINANCIAL INSTITUTIONS ACT 2002