RETIREMENT FUND (AMENDMENT) ACT 2015

This Act comes into operation on a date to be appointed by the Minister by notification in the Gazette.

Amendment of section 2

by inserting before the definition of “committee” the following definition:

‘ “debenture” includes debenture stock, bonds, notes and any other securities of a company or corporation whether or not constituting a charge on the assets of the company or corporation;’;

in the definition of “securities”—

in paragraph (b), by deleting the word “and” at the end of the paragraph;

in the definition of “company”, by inserting after the words

“[Act 125]” the words “, a trust company incorporated under the Trust Companies Act 1949 [Act 100] or any company incorporated under any written law”.

New section 4a

The Retirement Fund (Incorporated) may be paid by the Government of Malaysia for services rendered by it as an agent of the Government of Malaysia under subsection (1).”.

Retirement Fund (Amendment)

5

Amendment of section 6

by deleting paragraph (b); and

by substituting for paragraph (e) the following paragraph:

“(e) four persons from the public or private sector with experience and expertise in business, investment, banking or finance.”.

Amendment of section 13

in subsection (2)—

by deleting the word “and” at the end of paragraph (d);

in subsection (5), by deleting the words “for officers of the public service and employees of statutory and local authorities”.

Amendment of section 14

in subsection (1)—

by substituting for paragraph (a) the following paragraph:

“(a) on deposit in any currency including the ringgit in—

the Central Bank of Malaysia;

any bank or duly licensed financial institution outside Malaysia;”;

in the development of buildings, infrastructure and natural resources, and the interest within;

in private equity fund managed by—

any fund management company registered with the Securities

Commission Malaysia or

Companies Commission of

Malaysia;

any fund management company registered by any regulatory body outside Malaysia; or

any limited liability partnership registered by any regulatory body outside Malaysia; and”; and

in subsection (2)—

in the national language text, by inserting after the words “perenggan (1)(i)” the words “dan (ja)”;

and

no member of the Board, Investment Panel, committee, officers and servants of the Retirement Fund

(Incorporated) or any person attending any meeting of the Board, Investment Panel or any of its committees, whether during or after his tenure of office or employment, shall disclose any information which has been obtained by him in the course of his duties and which is not published in pursuance of this Act;

and

no other person who has by any means access to any information or documents relating to the affairs of the Retirement Fund (Incorporated) shall disclose such information or document.

Retirement Fund (Amendment)

Any person who contravenes subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding one hundred thousand ringgit or to imprisonment for a term not exceeding three years or to both.”.

KUALA LUMPUR