Section 14 — RETIREMENT FUND ACT 2007

(a)

on deposit in any currency including the ringgit in —

(i)

the Central Bank of Malaysia;

(ii)

any duly licensed financial institution as defined under the Financial Services Act 2013 [Act 758];

(iii)

any development financial institution as defined under the Development Financial Institutions Act 2002

[Act 618];

(iv)

any Islamic bank under the Islamic Financial Services

Act 2013 [Act 759]; or

(v)

any bank or duly licensed financial institution outside

Malaysia;

(b)

in money market instruments, including treasury bills, bankers’ acceptances, certificates of deposit and any financial instruments recognized by the relevant regulatory body in any currency including the ringgit;

(c)

in loans, on terms remunerative to the Retirement Fund

(Incorporated), to the Federal Government or the

Government of any State in Malaysia subject to Article 111 of the Federal Constitution;

(d)

in loans, on terms remunerative to the Retirement Fund

(Incorporated) and with the acceptable credit criteria, in respect of any public authority or corporation in which the Federal Government has an interest;

(e)

in loans, on terms remunerative to the Retirement Fund

(Incorporated), in respect of any company;

22 Laws of Malaysia Act 662

(f)

in bonds, commercial notes, private debt securities, promissory notes and bills of exchange within the meaning of the Bills of Exchange Act 1949 [Act 204] and other negotiable instruments of similar nature on terms remunerative to the Retirement Fund (Incorporated), in respect of any company or corporation;

(g)

in bonds, commercial notes, private debt securities, promissory notes and bills of exchange within the meaning of the Bills of Exchange Act 1949 and other negotiable instruments of similar nature on terms remunerative to the Retirement Fund (Incorporated), in respect of any public authority or corporation in which the Federal Government has an interest;

(h)

in the acquisition or subscription for shares or debentures in any public company whose securities are listed or have been approved for listing on a stock exchange in

Malaysia, the issue or sale of which has been approved under the Capital Market and Services Act 2007 [Act 671] or securities in a company which has been approved to be listed in any stock exchange outside Malaysia subject to the listing of such security being approved by law in the foreign jurisdiction;

(i)

in the securities of companies or corporations which are not listed and quoted on any stock exchange established in Malaysia provided that the total amount of moneys so invested in any one such company or corporation shall not exceed thirty per centum of the total amount of shareholders’ funds of that enterprise at the time of the investment unless prior written approval of the Minister is obtained to invest in excess of such percentage;

(j)

in the acquisition of movable or immovable property and interests therein;

(ja) with the approval of the Minister —

Retirement Fund 23

(i)

in the development of buildings, infrastructure and natural resources, and the interest within;

(ii)

in securities issued or fully guaranteed by any sovereign government, supranational or multilateral organization and includes securities where any sovereign government, supranational or multilateral organization is the obligor;

(iii)

in securities issued or fully guaranteed by the

Government of Malaysia, secured by any sovereign government, supranational or multilateral organization and includes securities where any sovereign government, supranational or multilateral organization is the obligor and any instrument issued by the

Central Bank of Malaysia;

(iv)

in purchasing securities or subscribing to any product for the purpose of hedging the investments of the Fund;

(v)

in private equity fund managed by —

(A)

any fund management company registered with the

Securities

Commission

Malaysia or

Companies

Commission of

Malaysia;

(B)

any fund management company registered by any regulatory body outside Malaysia; or

(C)

any limited liability partnership registered by any regulatory body outside Malaysia; and

24 Laws of Malaysia Act 662

(k)

in any other investment with the approval of the

Minister.

(2)

In granting any approval under paragraph (1)(i) and (ja), the

Minister may impose such terms or conditions as he may consider necessary.

(3)

Any person who causes moneys or any property to be invested in contravention of this section shall be guilty of an offence and shall, on conviction, be liable to a fine not exceeding two million ringgit or to imprisonment for a term not exceeding ten years or to both.

Unclaimed moneys