Section 9B

Any person, other than a participating investing institution, desiring either to make a transfer or take a transfer of an investment shall do so only through a depository institution.

A depository institution shall maintain with the Bank, in addition to the account maintained by it under subsection 9A(4), a separate single account in respect of all transfers effected through it under subsection (2).

The Bank shall pay to a depository institution return on each of the investments standing in the depository institution’s account under subsection (3) on the date the return becomes payable under section 8, and shall pay to such institution the investments standing in its account under subsection (3) on the date of maturity of the respective investments under section 9, by such means and in such manner as may be determined by the Bank.

12 Laws of Malaysia ACT 275

A depository institution shall maintain a customer’s account in respect of every transferor and transferee who is a party to any transfer effected through the depository institution under subsection

, except where a customer’s account in respect of a transferee is maintained by another depository institution, in which case the first mentioned depository institution shall have the investment transferred into the transferee’s account with the second mentioned depository institution.

Where a transfer of an investment is made by any person under subsection (2), the Bank may require any depository institution to issue an acknowledgement receipt in such form and manner as may be determined by the Bank.

An acknowledgement receipt issued under subsection (6) shall not be capable of being negotiated or dealt with in any manner whatsoever, and shall be used solely between the depository institution which issued it and the investment customer to whom it was issued as evidence of the transfer of an investment under subsection (2) to which it relates.

Where the amount in the account maintained by a depository institution with the Bank under subsection (3) is affected by a transfer effected through it under subsection (2), the depository institution shall communicate forthwith to the Bank information of any change in such amount caused by the transfer.

Duties and obligations of depository institutions in relation to transfers effected under subsection 9B(2)