Malaysia legislation
Section 4
Section 4
(2)
The Board shall be the Trustee of the Fund and all monies belonging to the Fund shall be deposited in trust in a bank or banks approved by the Board or shall be invested by the Board in accordance with the provisions of the Trustee Ordinance, 1949.
(3)
Interest shall be payable on contributions to the Fund at such rate per annum, not being less than two and one half per centum, as the Board may declare after and in respect of each year ending on the thirtyfirst day of December:
Provided that—
(a)
no such interest shall be payable in respect of the year during which section 7 of this Ordinance comes into force;
(b)
the Board shall not declare a rate of interest exceeding two and one half per centum per annum until the assets of the Fund, valued at the market rate, exceed its liabilities by ten per centum; and
(c)
if on the last day of any such year the excess of the assets of the Fund, valued at the market rate, over its liabilities is insufficient to defray the payment of such interest at the rate of two and one half per centum, such deficiency shall be met out of the general revenues of the Federation.
(4)
Where any deficiency in the assets of the Fund has been met, in accordance with paragraph (c) of the proviso to sub-section (3) of this section, the amount of such deficiency shall be repaid by the Board to the general revenues of the Federation from the assets of the Fund at the end of the year following the year in respect of which such deficiency was met and shall then be a first charge upon the assets of the Fund.