Bank Simpanan Nasional Act 1974 · s 40

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s 40Repeal and saving

(1)

Subject to subsections (2) and (3), the Post Office Savings Bank

Act 1948 (hereinafter referred to as the 1948 Act) is hereby repealed and the

Post Office Savings Bank established by or under the 1948 Act is hereby dissolved.

30 Laws of Malaysia ACT 146

(2)

All subsidiary legislations in force immediately before the appointed date made under the 1948 Act shall, with necessary modifications, continue in force and have effect as if they have been made under this Act, and may be amended or repealed by regulations made under this Act.

(3)

All deposits made and all entries in depositors’ passbooks, and all funds invested in securities remaining unsold on the appointed date and all other business transacted under the 1948 Act shall, so far as may be consistent with this Act, be deemed to be deposits and entries made, funds invested and business transacted under this Act.