Malaysia legislation

Section 3

of FINANCE (BANKING AND FINANCIAL INSTITUTIONS) ACT 1986

Section 3

Section 2 of the Central Bank of Malaysia Ordinance 1958, which in this Chapter is referred to as “the Ordinance”, is amended by inserting after the interpretation of “Board” the following new interpretation of “certificate of deposit”:

‘ “certificate of deposit” means a document relating to money, in any currency, which has been deposited with the issuer or some other person, being a document which recognizes an obligation to pay a stated amount to bearer or to order, with or without interest, and being a document by the delivery of which, with or without endorsement, the right to receive that stated amount, with or without interest, is transferable;’.