Malaysia Co-Operative Societies Commission Act 2007 · Updated to 1 Oct 2023 · Chapter 3
42. Central Liquidity Fund
Official textFrom Laws of Malaysia Online, unchanged
The Commission may require any co-operative society or any class, category or description of co-operative society by order in writing to contribute to the Central Liquidity Fund.
Commission
“Commission” means the Malaysia Co-operative Societies Commission established under section 3;
Any co-operative society required by the Commission to contribute to the Central Liquidity Fund under subsection (1) shall pay to the Commission or to its agent as specified in the order such amount of contribution or such rate of contribution as a percentage of its share capital, subscription capital, assets or liabilities or a
co-operative society
“co-operative society” has the same meaning as defined under section 2 of the Co-operative Societies Act 1993;
Malaysia Co-operative Societies Commission 39
combination thereof as may be determined by the Commission from time to time not later than such date as may be specified in the order.
specified
“specified”, where no mode is mentioned, means specified from time to time in writing;
The Commission may, with prior written approval of the
Minister, make regulations on the scope, operation and management of the Central Liquidity Fund.
Minister
“Minister” means the Minister charged with the responsibility for co-operative development;
Terms defined in this Act
Central Liquidity Fund
Defined · s 41“Central Liquidity Fund” means the fund established under section 42 to provide liquidity support to a co-operative society experiencing unusual or unexpected liquidity shortfalls;
co-operative society
Defined · s 2“co-operative society” has the same meaning as defined under section 2 of the Co-operative Societies Act 1993;
Commission
Defined · s 2“Commission” means the Malaysia Co-operative Societies Commission established under section 3;
Minister
Defined · s 2“Minister” means the Minister charged with the responsibility for co-operative development;
share
Defined · s 2“share” has the same meaning as defined under section 4 of the Companies Act 1965 or section 2 of the Co-operative Societies Act 1993, as the case may be;
specified
Defined · s 2“specified”, where no mode is mentioned, means specified from time to time in writing;
Part VI
Investigation, Search and Seizure
Part VII