Malaysia legislation

Section 30

of Sarawak Forestry Corporation Ordinance, 1995

Section 30

The Corporation may, with the approval of the Minister, invest any of its funds available for investment in the following manner:

(a)

by depositing in—

(i)

Bank Negara Malaysia;

(ii)

banks duly licensed under the Banking and

Financial Institutions Act 1989 [Act 372]; or

(iii)

any other financial institution duly licensed under the Banking and Financial Institutions Act 1989 [Act 372];

(b)

by investing in bonds, debentures, commercial notes, banker’s acceptances, money market instruments, certificates of deposits and promissory notes and bills of exchange within the meaning of the Bills of Exchange Act 1949 [Act 204]; or

(c)

by investing in accordance with the provisions of the

Trustee Act 1949 [Act 208]:

Provided however, where the Corporation invests in or upon titles to immovable property in Malaysia in accordance with section 4(1)(c) of the Trustee Act 1949 [Act 208], such immovable property may or may not yield any income at the time of such investment.

Read in full context — Sarawak Forestry Corporation Ordinance, 1995 →