Section 2

“appointed date” means the date on which this Act comes into force;

“Bank” means the Bank Simpanan Nasional established under section 3;

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*NOTE—This Act will be repealed by Bank Simpanan Nasional Berhad Act 1997 [Act 571] when Act 571 comes into force.

8 Laws of Malaysia ACT 146

“Board” means the Board of Directors referred to in section 6;

“Chairman” means the Chairman of the Board;

“Chief Executive” means the Chief Executive appointed under section 9

and includes any person appointed to act as the Chief Executive;

“director” means a member of the Board appointed under section 6 and includes the Chairman and alternate director;

“giro service” means a current account service which permits account holders to issue payment instructions to the Bank and which permits the

Bank to accept payments into the account of an account holder from any party;

“interest” includes bonus and such other pecuniary benefits (by whatever name called) payable on deposits and other accounts with the Bank;

“officer” includes the Chief Executive;

“Post Office Savings Bank” means the Post Office Savings Bank established under the Post Office Savings Bank Act 1948 [Act 113];

“premium savings certificate” means a numbered savings certificate issued by the Bank for a deposit account on which no interest will be payable but which may or may not participate in periodical draws held by the Bank for the award of bonus payments by way of cash or otherwise; and

“security” means debenture, stock and share in a public company or corporation, or bond of any government or of any body, corporate or unincorporate, and includes any right or option in respect thereof and any interest as defined in section 84 of the Companies Act 1965 [Act 125].