Section 47
Property of trust fund as collateral
of Development Financial Institutions Act 2002
ActIn forceProvision 63 of 248
Section 47
(1)
No prescribed institution shall provide the property of a trust fund as collateral for a financing facility granted by any person to the prescribed institution or to any other person.
(2)
Any prescribed institution that contravenes subsection (1)
commits an offence and shall on conviction be liable to a fine not exceeding twenty-five million ringgit.