Malaysia legislation
Section 21
of *BANK KERJASAMA RAKYAT MALAYSIA BERHAD (SPECIAL PROVISIONS) ACT 1978
Section 21
(2)
At the end of each financial year, the net profit of the Bank for that year shall be determined after allowing for the expenses of operation and after provision has been made for bad and doubtful debts, depreciation of assets, and contributions to staff and pension funds.
22 Laws of Malaysia ACT 202
(3)
The net profit for the financial year, as determined in accordance with subsection (2), shall be dealt with in the following manner:
(a)
where at the end of the financial year the Statutory
Reserve Fund is less than fifty per centum of the paid-up capital of the Bank, at least fifty per centum of the net profit shall be credited to the Statutory Reserve Fund;
(b)
where at the end of the financial year the Statutory
Reserve Fund is fifty per centum or more, but less than one hundred per centum, of the paid-up capital of the
Bank, at least twenty-five per centum of the net profit shall be credited to the Statutory Reserve Fund.
Declaration of dividends