Pengurusan Danaharta Nasional Berhad Act 1998 · Updated to 1 Feb 2013 · Part VIII · Application of Other Acts
58. Application of other Acts
Official textFrom Laws of Malaysia Online, unchanged
Notwithstanding the provisions of the Islamic Banking
Act 1983 [Act 276] the Corporation may —
provide any credit facility in accordance with Islamic banking concepts;
receive deposits (other than on current account or savings account) from any person in accordance with Islamic banking concepts; and
carry on such other activities as may be approved by the
Minister.
The provisions of the Moneylenders Act 1951 [Act 400] shall not apply to the Corporation.
Section 132G of the Companies Act 1965 shall not apply to an acquisition or disposition by the Corporation under Part V or to any transfer referred to in section 59.
Pengurusan Danaharta Nasional Berhad 63
Terms defined in s 2
credit facility
Defined · s 2“credit facility” means— (a) the giving of any advance, loan or other facility in whatever form or by whatever name called whereby the person to whom the advance, loan or facility is given has access, directly or indirectly, to the funds of the person giving it and shall include without limitation, any sale and buy back arrangement, hire purchase agreement, lease arrangement, joint venture arrangement, debt trading, guarantee, deferred payment sale, profit sharing arrangement and any other financing arrangements made in accordance with Islamic banking concepts in whatever form or by whatever name; (b) the giving of a guarantee in relation to the obligations of any person; or (c) any other dealing or transaction as may be prescribed by the Central Bank under section 2 of the Banking and Financial Institutions Act 1989;
Minister
Defined · s 2“Minister” means the Minister for the time being charged with the responsibility for finance;