Section 13
Maintenance of capital funds
of Bank Simpanan Nasional Berhad Act 1997
ActPendingProvision 13 of 93
Section 13
(1)
The Minister may require the Bank to maintain, at all times, capital funds unimpaired by losses, in such ratio to all or any assets or to all or any liabilities, or to both such assets or liabilities, of the Bank and all its offices in and outside Malaysia as may be specified by the Minister.
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(2)
Where the Bank fails to comply with subsection (1), it shall be guilty of an offence and shall on conviction be liable to a fine not exceeding one million ringgit and, in the case of a continuing offence, to a further fine not exceeding one thousand ringgit for each day during which the offence continues after conviction.