Malaysia legislation
Section 11
Section 11
(2)
No profit shall be declared unless the Lembaga has established a Reserve Fund, and no profit shall be declared in any year unless at the end of that year—
(a)
(Deleted by Act A1668);
(b)
the assets of the Reserve Fund were not less than such percentage of the amounts actually standing to the credit of the contributors as at the end of that year including the profit as the Treasury may approve;
(ba) provision is made by the Lembaga for payment into the scheme established under section 15A of such sums of
Tabung Angkatan Tentera 19
moneys sufficient for the purpose of the scheme established under section 15A; and
(c)
the Lembaga is satisfied with the ability of the Tabung to meet all payments required to be paid under this Act is not endangered by the declaration of the rate.
(2A)
For the purpose of declaration of profit under subsection (1), the Lembaga shall be regarded as solvent if the Lembaga is able to pay its debts as and when the debts become due within twelve months immediately after the declaration is made.
(2B)
The Lembaga may, from time to time as it considers necessary, appoint a qualified and independent actuary to assist the Lembaga in assessing its financial performance pursuant to this section and such assessment may be served as a guide to the Lembaga.
(3)
Any payments required to be made out of the Tabung shall, in so far as the moneys in that Tabung are insufficient for that purpose, be made out of the Reserve Fund.
(4)
The Lembaga may from time to time transfer assets from the
Reserve Fund to the Tabung or from that Tabung to the Reserve Fund.
Withdrawals