Section 13
of Statutory Bodies Conduct And Discipline Regulations 1995
State Subsidiary LegislationIn forceProvision 13 of 45
Section 13
An employee shall not lend money at interest whether with or without security, provided that placing money on fixed deposit in any bank or in an account in any bank or in any borrowing company licensed under the Banking and Financial Institutions Act 1989 [Act 372], or in any security or stocks issued by the Government or by any statutory body, shall not be regarded as lending money at interest.