Section 41 — BANK SIMPANAN NASIONAL BERHAD ACT 1997

(a)

any shares of, or otherwise have an interest in the shares in, any corporation; or

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Bank Simpanan Nasional Berhad

(b)

any immovable property or any right or interest therein, except such as may be reasonably necessary for the purpose of conducting its business, or of providing housing or other amenities for its staff, and as may in either case be approved by the Minister.

(2)

Subsection (1) shall not apply in respect of—

(a)

any share or interest in shares, or any immovable property or any right or interest in immovable property, acquired by the Bank—

(i)

by way of security for giving any credit facility to any person or for incurring any liability on behalf of any person;

(ii)

in the course of the realization of any security given to or held by the Bank; or

(iii)

before the appointed date, where such acquisition was lawful immediately before such date;

(b)

any shares acquired or held by the Bank consequent upon its establishment or acquisition of a subsidiary with the prior written consent of the Minister under section 10;

or

(c)

any shares or interest in shares acquired or held by the

Bank in connection with its business as an exempt dealer under the Securities Industry Act 1983.

(3)

Any immovable property or share, or any right or interest therein, acquired pursuant to subparagraph (2)(a)(ii) or paragraph

(2)

(c)

by the Bank shall be disposed of as soon as practicable but not later than twelve months, or such longer period as the Minister may allow in any particular case, commencing on the date on which it was acquired.

(4)

Any acquisition, holding or disposal of shares or interest in shares for the purposes or in the circumstances referred to in paragraph (2)(a), (2)(b) or (2)(c) or in subsection (3) shall not be regarded as “dealing in securities” for the purposes of the Securities

Industry Act 1983.

(5)

Where the Bank fails to comply with subsection (1) or (3), 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

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continuing offence, to a further fine not exceeding one thousand ringgit for each day during which the offence continues after conviction.

Limitations, terms and conditions in respect of giving of credit facility