Malaysia legislation
Section 15
Section 15
(2)
The minimum amount of assets to be held in Malaysia specified under subsection (1) shall be expressed as a percentage of all or such of the liabilities of the Bank in Malaysia as may be set out in the specification.
(3)
In a specification under subsection (1), the Minister may specify—
(a)
a minimum amount of assets to be held in Malaysia by the Bank;
(b)
the types of assets to be classified as assets to be held in Malaysia by the Bank; or
(c)
the types of liabilities to be classified as liabilities for the
Bank.
(4)
The provisions of subsection 14(4) shall apply mutatis mutandis in relation to a specification under subsection (1).
(5)
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 per centum of the shortfall for the day or each of the days to which the charge relates.
Investment of funds