Power to make rules and regulations
Open ↗(1) The Board may make such rules and regulations as may be necessary for the purpose of carrying out or giving effect to any of the provisions of this Act.
(2) In particular, and without prejudice to the generality of the power conferred by subsection (1), such rules and regulations may relate to—
(a) the operation of schemes for saving with the Bank;
(b) the provision of loans and advances for housing and other specific purposes;
(c) the investment of the funds of the Bank;
(d) the operation of giro services; and
(e) the issue and promotion of premium savings certificates and the holding, promoting, organizing and administering of draws related thereto:
Provided that such rules and regulations relating to policy shall require the approval of the Minister.
Secrecy
Open ↗(1) The names of depositors and amounts of deposit and withdrawals shall not be disclosed by any officer or employee of the Bank, except to the Auditor General or with the written consent of the Minister:
Provided that nothing in this section shall be deemed to limit the power conferred upon the High Court or a Judge thereof by the Bankers’ Books (Evidence) Act 1949 [Act 33] to prohibit obedience to an order made under that Act.
(2) Any person contravening this section shall be guilty of an offence and shall on conviction be liable to a fine not exceeding one thousand ringgit.
Power to appoint attorney
Open ↗The Bank may by instrument under its seal appoint a person whether in Malaysia or any place outside Malaysia, to be its attorney and such person so appointed may, subject to the instrument, do any act or execute any power or function which he is authorized by the instrument to do or execute.
The Bank deemed a Malay or native
Open ↗For the purpose of any written law relating to land reserved for alienation to Malays or to natives of the State in which it lies, the Bank shall be deemed to be a Malay or a native, as the case may be.
Attachment of deposits
Open ↗(1) Except as provided under subsection (2), no deposit in the Bank, and no interest on any such deposit, shall be attached, sequestered or levied upon for or in respect of any debt or claim whatsoever.
(2) Upon notice of a claim under a judgment of any court, it shall be lawful for the Chief Executive in his discretion to retain in the account a sum sufficient to answer the claim and to pay into the court on its order the amount of that claim or part thereof; but a court shall only make an order under this section if it is satisfied that the judgment-debtor has an account with the Bank for his own sole benefit.
Power to administer oath
Open ↗(1) For the purpose of obtaining proof of the death of a depositor or of ascertaining the proper person to receive moneys standing in the name of a minor, person of unsound mind, or deceased person, the Chief Executive, or such other officer as the Chief Executive shall appoint for the purpose, may take evidence on oath or affirmation according to law.
(2) Any person who upon such oath or affirmation makes any statement that is false, and which he either knows or believes to be false, or does not know to be true, shall be deemed guilty of an offence under section 193 of the Penal Code.
Public Authorities Protection Act
Open ↗The Public Authorities Protection Act 1948 [Act 198] shall apply to any action, suit, prosecution or proceeding against the Bank or against any member, officer, employee, agent or correspondent of the Bank, in respect of any act, neglect or default done or committed by him in such capacity.
Things done in anticipation of this Act
Open ↗All things done by any person or authority on behalf of the Bank in the preparation of and towards the proper implementation of any of the provisions of this Act and any expenditure incurred in relation thereto, in anticipation of the promulgation of this Act, shall be deemed to have been authorized by this Act; and all rights and obligation acquired or imposed on behalf of the Bank from anything so done or any expenditure so incurred shall upon the coming into force of this Act be deemed to be the rights and obligations of the Bank.
Compulsory acquisition of land
Open ↗(1) When any immovable property, not being State land, is needed to be acquired by the Bank for the purposes of this Act, such property may be acquired in accordance with the provisions of any written law relating to the acquisition of land for a public purpose for the time being in force in the State in which such property is situate, and any declaration required by any such written law that such land is so needed may be made notwithstanding that compensation is to be paid by the Bank; and such declaration shall have effect as if it were a declaration that such land is needed for a public purpose in accordance with such written law.
(2) The expenses and compensation in respect of any immovable property acquired under this section shall be paid by the Bank.
(3) When any immovable property has been acquired under this section, the Bank shall extract the necessary documents of title in respect of such property and shall pay any rent to which such property may be subject.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
