Section 2

publication in a newspaper, magazine, journal or other periodical;

display of posters or notices;

circulars, handbills, brochures, pamphlets, books or other documents;

*NOTE—This Act is not yet in force.

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letters addressed to individuals or bodies;

photographs or cinematograph films; and

sound broadcasting, television or other electronic media;

“agreement” means an agreement, whether formal or informal, oral or written, express or implied;

“appointed date” means the date appointed under section 1;

“approved company auditor” has the meaning assigned to it by subsection 4(1) of the Companies Act 1965 [Act 125];

“arrangement” means an arrangement whether formal or informal, oral or written, express or implied;

“associate corporation” means a corporation where not less than twenty per centum and not more than fifty per centum of that corporation’s shares are held by another corporation, the first-mentioned corporation thereby being an associate corporation of the other corporation;

“Bank” means a company under the name of Bank Simpanan

Nasional Berhad incorporated under the Companies Act 1965 pursuant to section 3 and includes its offices;

“Bank Simpanan Nasional” means a body corporate established under section 3 of the Bank Simpanan Nasional Act 1974

[Act 146];

“Board” means the board of directors of the Bank;

“business associate” of a person includes—

any banker, accountant, auditor, advocate, nominee or other person employed or appointed by such person at any time before or after the appointed date;

any institution of which such person is a director, and any other director of the institution;

if such person is a corporation—

any director of such corporation;

any person having possession of any property belonging to such person;

any person indebted to such person;

any person having any knowledge or information relating to the business, dealings, affairs or property of such person;

and

any person acting in concert with such person;

“capital funds” means paid-up capital and reserves, and includes any other sources of capital as may be specified by the Minister;

“Central Bank” means the Central Bank of Malaysia established by the Central Bank of Malaysia Act 1958 [Act 519];

“chief executive”, in relation to the Bank, means a person, by whatever name called, who, either individually or jointly with one or more other persons, is responsible, subject to the authority of the directors, for the conduct of the business and the administration of the Bank;

“child” includes a step-child and a person adopted as a child under any written law of Malaysia or of any country, territory or place outside Malaysia, or under any custom recognized by any class or category of persons in Malaysia or in any country, territory or place outside Malaysia;

“company” has the meaning assigned to it by subsection 4(1)

of the Companies Act 1965;

“constituent documents”, in relation to the Bank, means the memorandum of association and articles of association, rules and by-laws, partnership agreement, or other instrument, under or by which the Bank is established and its governing and administrative structure and the scope of its functions, business, powers and duties are set out, whether contained in one or more documents;

“controller”, in relation to the Bank, means a person who—

has an interest in more than fifty per centum of the shares of the Bank;

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has the power to appoint or cause to be appointed a majority of the directors of the Bank; or

has the power to make or cause to be made, decisions in respect of the business or administration of the Bank, and to give effect to such decisions or cause them to be given effect to, and the word “control” shall be construed accordingly;

“Corporation” means the Minister of Finance incorporated by the Minister of Finance (Incorporation) Act 1957 [Act 375];

“corporation” has the meaning assigned to it by subsection 4(1)

of the Companies Act 1965;

“credit facility” means—

the giving of any advance, loan or other facility in whatever form or by whatever name called whereby the person to whom such advance, loan or facility is given has access, directly or indirectly, to the funds of the person giving the same;

the giving of a guarantee in relation to the obligation of any person; or

any other dealing or transaction as may be prescribed by the Minister;

“derivative instrument” has the meaning assigned to it by section 2 of the Banking and Financial Institutions Act 1989 [Act 372];

“director” includes any person who occupies the position of a director, by whatever name called, and in particular, without prejudice to the foregoing, in the case of—

a corporation, has the meaning assigned to it by the

Companies Act 1965;

a co-operative society, means a member of the board, or other governing body, by whatever name called, of the co-operative society;

a statutory body, means a member of the board, committee, council or other governing body, by whatever name called, of the statutory body;

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Bank Simpanan Nasional Berhad

a partnership, means a partner;

a sole proprietorship, means the sole proprietor; and

any other body, association or group of persons, whether corporate or unincorporate, means any person having the direction and control of the management of its affairs or business;

“document” includes—

any letters, figures, marks, symbols, signals, inscriptions, writing, sign, caricature, picture, drawing, or other representation in any form; and

any visual recording (whether of still or moving images), any sound recording, or any electronic, magnetic, mechanical or other recording, on any substance, material, thing or article;

“giro service” means a current account service which permits account holders to issue payment instructions to the Bank for payment to any party or which permits the Bank to accept payments into the account of an account holder from any party;

“holding company” has the meaning assigned to it by section 5 of the Companies Act 1965;

“interest in a share” shall be construed as provided under subsections 6A(2) to 6A(10), inclusive, of the Companies Act 1965;

“liabilities” includes debts, duties and obligations of every kind, whether present or future, or whether vested or contingent;

“licensed institution” means any institution licensed under subsection 6(4) of the Banking and Financial Institutions Act 1989;

“manager”, in relation to the Bank, means an officer of the

Bank, by whatever name called, responsible for an office of the

Bank, or for a department or a division of the Bank or of its office;

“member”, in relation to the Bank, means a shareholder of the

Bank;

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“Minister” means the Minister charged with the responsibility for finance;

“office”, in relation to the Bank, includes the principal place of business, a branch, an agency, a mobile place of business, a place of business set up and maintained for a limited period only, an electronic terminal and any other place of business;

“officer”, in relation to the Bank, includes any employee and the chief executive of the Bank;

“person” includes any individual, corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;

“person responsible for the Bank” means any person who is a director or officer of the Bank or who purports to act in any such capacity or who is in any manner or to any extent responsible for the management of the affairs of the Bank, or was assisting in such management;

“premium savings certificate” means a numbered savings certificate which is redeemable either on demand or otherwise issued by the

Bank for a deposit account on which dividends may or may not be payable and 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 to the holders thereof;

“prescribe” means prescribe by order published in the Gazette;

“property” means any movable or immovable property and includes—

any right, interest, title, claim, chose in action, power or privilege, whether present or future, or whether vested or contingent, in relation to any property, or which is otherwise of value;

any conveyance executed for conveying, assigning, appointing, surrendering, or otherwise transferring or disposing of immovable property whereof the person executing the conveyance is proprietor or possessor or wherein he is entitled to a contingent right, either for the whole interest or for any lesser interest;

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Bank Simpanan Nasional Berhad

any security, including any stock, share, debenture and fund;

any negotiable instrument, including any bank note, bearer note, Treasury bill, dividend warrant, bill of exchange, promissory note, cheque and negotiable certificate of deposit;

any mortgage or charge, whether legal or equitable, guarantee, lien or pledge, whether actual or constructive, letter of hypothecation or trust receipt, indemnity, undertaking or other means of securing payment or discharge of a debt or liability, whether present or future, or whether vested or contingent; and

any other tangible or intangible property;

“public company” has the meaning assigned to it by subsection 4(1) of the Companies Act 1965;

“related”, in relation to a corporation, means related within the meaning of section 6 of the Companies Act 1965;

“relative”, in relation to a person, means—

the spouse of the person;

the brother or sister of the person;

the brother or sister of the spouse of the person;

any lineal ascendant or descendant of the person;

any lineal ascendant or descendant of the spouse of the person;

the spouse of any person referred to in paragraph (b), (c),

or (e);

any lineal descendant of a person referred to in paragraph

, (c) or (f);

any uncle, aunt or cousin of the person, or of the spouse of the person; or

any spouse, or any lineal ascendant or descendant, of the person referred to in paragraph (h);

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“securities” has the meaning assigned to it by subsection 2(1)

of the Securities Industry Act 1983 [Act 280];

“share”, in relation to a corporation, means an issued share of the corporation and includes stock except where a distinction between stock and share is expressed or implied;

“specify” means specify from time to time in writing;

“subsidiary” has the meaning assigned to it by section 5 of the

Companies Act 1965;

“vesting date” means the date on which all property, rights and liabilities of the Bank Simpanan Nasional are transferred to and vested in the Bank as specified by the Minister in the order under subsection 4(1).

For the purpose of the definition of “relative” in subsection

—

For the purposes of this Act—

Where under any provision of this Act power is given to the

Minister to require any person, or where any person is required under any provision of this Act, to submit, produce or provide to the Minister any information, statement, statistics, return or document—