Malaysia legislation

Section 22

of EMPLOYEES PROVIDENT FUND (AMENDMENT) ACT 2016

Section 22

New section 70h

The principal Act is amended by inserting after section 70g the following section:

“Cessation of dividend payments and transfer to Registrar of Unclaimed Money 70h.  Notwithstanding subsection 50(2b) and section 51, no dividend shall be credited into the account of a member of the Fund who is not a Malaysian citizen if no contribution has been credited into his account after a period of three years from the date of the last contribution was credited, and the

Board may transfer all sums of money standing to his account to the Registrar of Unclaimed Money after the expiration of such period.”.

Section 22 — AKTA KUMPULAN WANG SIMPANAN PEKERJA (PINDAAN) 2016