Section 14

make loans to, and stand guarantee for any loan of money to, any person, whether or not a member of the Bank;

grant and issue letters of credit to any person, whether or not a member of the Bank;

acquire, hold, issue on commission, underwrite, and deal with stock, bonds, funds, obligations, securities and investments of all kinds;

transact all manner of agency business;

acquire and undertake the whole or any part of the business of any person or company carrying on any business of the same nature as the Bank may lawfully carry on, or possessed of property suitable for the purposes of the Bank;

maintain accounts with other banks in Malaysia;

carry on any other business expressly authorized by the

Minister with the concurrence of the Minister of Finance.

In exercising its powers and carrying out its functions, the

Bank shall give paramount consideration to its primary objective of raising the economic status of its members.

The Minister may, with the concurrence of the Minister of

Finance, by order published in the Gazette exempt the Bank from any provisions of the Co-operative Societies Act 1993 or direct that any of the provisions of the Co-operative Societies Act 1993 shall apply to the Bank with such modifications as may be specified in the order.

No investment exceeding the amount determined by the

Minister with the concurrence of the Minister of Finance shall be made by the Board in exercise of its powers under section 54 of the

Co-operative Societies Act 1993 or under subsection (1), unless prior written approval of the Minister, given with the concurrence of the

Minister of Finance, has been obtained.

16 Laws of Malaysia ACT 202

Restrictions on payment of dividends and grant of advances and loans to directors