Malaysia legislation
Section 49
Section 49
Power to invest
(2)
The Fund shall, in so far as they are not immediately required to be expended by the Organization under this Act or any regulations made under this Act, be invested subject to such terms and conditions as may be determined by the Minister, in consultation with the Minister of Finance, as follows:
Self-Employment Social Security 39
(a)
in investments or securities authorized for the investment of trust funds by any written law;
(b)
in investment in shares and debentures in any public company which are quoted or sought to be quoted on a stock exchange established in Malaysia; and
(c)
in such other investments or securities as the Board may decide based on the recommendation by the Committee.
(3)
The investments made under subsection (2) may be varied, transposed or realized from time to time.
(4)
The Minister may at any time, after consultation with the
Minister of Finance, direct the vacation in part or in whole, or prohibit investment, in any security.
(5)
The power to invest under subsection (2) shall vest on the
Committee, subject to such directions as may be issued by the Board.
(6)
The Organization shall, with the approval of the Board and after consultation with the Minister of Finance, determine the procedure for investment of the Fund including its transfer or realization, the bank in which the Fund may be deposited, the raising and repayment of loans, and the financial control and procedures.
Power to borrow