Section 75
Investment of funds
of Employees' Social Security Act 1969
Subject to such conditions as may be prescribed by the
Minister in consultation with the Minister of Finance, the funds of the
Organization which are not immediately required for meeting expenses under the Act shall be invested—
(a)
in investments or securities authorized for the investment of trust funds by any written law for the time being in force;
(b)
in investment in shares and debentures in any public company the prices of which are quoted or sought to be quoted on the stock exchange established in Malaysia; and
(c)
in such other investments or securities as the Board may decide:
Provided that any investment made under this Act may be varied, transposed or realized from time to time.
*NOTE—The Companies Act 1965 [Act 125] has since been repealed by the Companies Act 2016
[Act 777] which comes into operation on 31 January 2017–see subsection 620(1) of Act 777.
Employees’ Social Security 75
(2)
The Minister in consultation with the Minister of Finance may, at any time, direct the vacation in part or in whole, or prohibit investment, in any security or class of securities.
(3)
For the purposes of this section—
“debentures” includes debenture stock, bond, note or other securities or obligations of a company, whether constituting a charge on the assets of the company or not and also includes the right to subscribe for any debenture;
“shares” means the paid-up shares (whether fully paid or not) in the share capital of a company and includes stocks and rights to subscribe for any stock or shares.