Section 6 — RETIREMENT FUND ACT 2007

(2)

Notwithstanding subsection (1), all matters pertaining to the investment of the Fund shall, subject to subsection 7(4), be dealt with by the Investment Panel.

(3)

The Board shall have powers to perform its duties as are given or imposed by this Act and do all acts which may be exercised or done by the Retirement Fund (Incorporated).

(4)

The Board shall consist of the following members who shall be appointed by the Minister:

(a)

a Chairman who shall be the Secretary General of the

Ministry of Finance;

(b)

a representative from the Central Bank of Malaysia;

(c)

a representative from the Ministry of Finance;

(d)

the Chief Executive Officer who shall be an ex-officio member;

(e)

three representatives of the Government of Malaysia;

(f)

three other persons from the private sector with experience and expertise in business, investment, banking or finance; and

(g)

a person who, in the opinion of the Minister, shall fairly represent the contributories to the Fund other than representatives of the Government of Malaysia.

(5)

The Board may —

(a)

appoint attorneys or agents and technical advisers including actuaries, advocates and solicitors, bankers, fund managers, stockbrokers, surveyors, valuers or such other experts or professionals to transact any business or

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to do any act required to be transacted or done in the execution of its functions or for the better carrying into effect the purposes of this Act; and

(b)

pay from the Fund all charges and expenses so incurred.

(6)

On the request of the Investment Panel, the Board shall appoint and pay such persons referred to in subsection (5), in or outside Malaysia, as the Investment Panel may require for the purposes of carrying out its duties and functions under this Act.

(7)

The Minister may issue general guidelines consistent with the provisions of this Act with respect to the exercise of the Board’s functions and the Board shall give effect to all guidelines issued under this section.

(8)

The provisions of the Second Schedule shall apply to members of the Board.

Investment Panel