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mylaw.myby aturio
In forceUpdated to 1 Dec 2011Read it in Bahasa Malaysia
Contents

Part V · Provisions Relating to the Carrying on of Business of the Bank

25. Investment of funds

(1)

Subject to the provisions of this Act, the funds of the Bank shall, as far as practicable and except for such sums as may be assigned to be kept in hand for the general purposes of the Bank, be invested in—

(a)

securities of the Government;

(b)

other investments authorized by or under the Trustee Act 1949

[Act 208];

(c)

loans for housing for depositors and other customers in accordance with the general directions of the Minister;

24 Laws of Malaysia ACT 146

(d)

other loans and advances to depositors and other customers for such purposes as may be approved by the Minister; and

(e)

other securities and investments as the Board may from time to time decide:

Provided that, subject to any variation which the Minister may make under subsection (2), securities held under paragraph (a) shall not be less than 70

per cent, and securities and investments held under paragraph (e) shall not exceed 10 per cent, of the funds available in any one year for investment and not needed for immediate use by the Bank.

(2)

The Minister may, after consultation with the Board, vary the percentage specified in the proviso to subsection (1).

(3)

No investment shall be made by the Bank outside Malaysia.

Report

Part VI

Financial Provisions

Read on from Part VI

Part VII

General

Read on from Part VII

Part VIII

Repeal and Transitional

Read on from Part VIII