Section 27
Power to invest
of Pembangunan Sumber Manusia Berhad Act 2001
In addition to the provisions contained in the Memorandum and Articles of Association of the Corporation, the Investment
Panel may, from time to time, invest the Fund or any part of the Fund not being monies immediately required for meeting the
Fund’s obligations and expenses—
(a)
in investments or securities authorized for the investment of trust funds under any written law for the time being in force;
(b)
in shares and debentures in any public company the prices of which are quoted on a stock exchange established in
Malaysia; or
(c)
in such other investments or securities as the Investment
Panel may decide.
(2)
Any investment made under this Act may be varied, transposed or realized from time to time.
(3)
The Minister may, at any time, direct the vacation in part or in whole, or prohibit investment in any security or class of securities.
(4)
The Investment Panel shall report to the Board of the status of its investment whenever the Board requests the Investment
Panel to do so.
(5)
For the purposes of this section—
“debenture” includes stock, bonds, notes or any 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;
Act 612
“share” means the paid-up shares (whether fully paid or not)
in the share capital of a company and includes stock and right to subscribe for any stock or share.