Section 76
Power to invest
of Youth Societies and Youth Development Act 2007
The Institute may invest in the Government’s security or in other securities with prior approval in writing of the Minister of Finance, money of the Fund, not immediately required to be expended, with the power from time to time to vary any investment, subject to the prior approval in writing of the Minister of Finance in relation to any variation following any investment in other security other than the Government’s security.
(2)
The Institute may keep, either in fixed deposit or current account, any money for the time being not invested in any bank in Malaysia which holds valid license under the provision of the
*Banking and Financial Institution Act 1989 [Act 372] or the
Islamic Banking Act 1983 [Act 276] and be given prior approval in writing for such purpose by the Minister.