Malaysia legislation
Section 42
Section 42
(a)
for the purposes of financing—
(i)
the purchase of securities or the making of any payment that may be due on securities already purchased;
(ii)
the purchase or development of immovable property;
(iii)
the purchase or holding of any interest in the shares of any corporation;
(iv)
the purchase or holding of any derivative instrument;
or
(v)
the purchase or holding of any other property as may be prescribed by the Minister; or
(b)
on the security of any securities, immovable property, interest in shares, derivative instrument or any other property.
(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 five million ringgit.
(3)
Where the Bank is guilty of an offence under subsection (2), any person who at the time of the commission of the offence was a person responsible for the Bank shall also be guilty of that offence and shall on conviction be liable to a fine not exceeding five million ringgit or to imprisonment for a term not exceeding five years or to both.
59
Bank Simpanan Nasional Berhad
Proof of compliance