This Act may be cited as the Treasury Deposit Receipts Act 1952.
Act 236
Treasury Deposit Receipts Act 1952
Akta resit deposit perbendaharaan 1952
An Act to confer on the Minister of Finance power to receive money on deposit for fixed periods and to pay interest thereon and for purposes connected therewith.
Data synced
Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.
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In this Act, unless the context otherwise requiresβ βtreasury depositβ means any money deposited in accordance with section 3; βtreasury deposit receiptβ means a receipt given in accordance with section 5.
(1) The Minister of Finance is hereby authorized to accept on behalf of the Federal Treasury at such times and up to such maximum amounts as he may from time to time specify deposits by any person of any sum of fifty thousand ringgit or a multiple of fifty thousand ringgit:
Provided that the total amount of money so accepted and not repaid on deposit at any one time shall not exceed* two hundred million ringgit, or such further sum as may be authorized by resolution of the Dewan Rakyat.
(2) The sums received under this section shall be applied, and are hereby appropriated, to the following purposes:
(a) repayment of the moneys received under this Act, to such extent as the Minister of Finance may determine;
(b) payment, with the prior approval of the Dewan Rakyat signified by resolution, into the Development Fund specified in the Second Schedule to the Financial Procedure Act 1957 [Act 61], for the purposes of such Fund.
*NOTEβAs authorized by the Legislative Council by resolution on 12 September 1956βsee 1956 Hansard pg. 1529.
Any person making a deposit under section 3 shall thereupon declare the period in respect of which such deposit is made, and the period shall be either two, three, four or five years from the date of making such deposit; and at the end of that period the money so deposited shall be repaid in the manner hereinafter provided.
The Minister of Finance shall give a receipt in the form in the Schedule for every treasury deposit.
Treasury deposit receipts shall be transferable by endorsement and delivery.
(1) Interest shall be paid on all treasury deposits in accordance with this section.
(2) The Minister of Finance shall from time to time by order notified in the Gazette prescribe the rates of interest to be paid per annum on treasury deposits of different durations.
(3) The rate of interest to be paid on any treasury deposit shall be that in force at the date of making the deposit.
(4) Interest on all treasury deposits shall become due annually on the anniversary of the date of making the same and shall be paid at the Federal Treasury to the holder of the treasury deposit
receipt relating to such deposit on presentation of the said treasury deposit receipt to the Minister of Finance, who shall endorse the particulars of the date and of the amount of interest so paid on the back of the said treasury deposit receipt; and such endorsement shall be conclusive evidence that the interest specified in the endorsement has been paid.
(5) No interest shall be due or payable on any treasury deposit after the expiration of the period for which the deposit was made.
(1) A treasury deposit shall be repaid on maturity to the holder of the treasury deposit receipt relating to such deposit on his tendering to the Minister of Finance the said treasury deposit receipt.
(2) No treasury deposit shall be repaid except upon the surrender of the treasury deposit receipt in respect thereof to the Minister of Finance for cancellation by him.
The moneys represented by treasury deposit receipts and interest thereon are hereby charged upon and shall be payable out of the Consolidated Fund.
No stamp duty shall be leviable or payable on any treasury deposit receipt or on the transfer thereof.
The Minister of Finance may delegate to the Accountant General by notification in the Gazette any or all of the powers or duties conferred upon him by this Act.
Any person who forges or alters any treasury deposit receipt or any word, figure or mark, sign, signature or facsimile upon or attached to any treasury deposit receipt, or who offers or utters or
disposes of any treasury deposit receipt knowing the same to be forged or altered shall, on conviction, be liable to imprisonment for a term not exceeding fifteen years.
[Section 5]
TREASURY DEPOSIT RECEIPT
The Minister of Finance hereby acknowledges the deposit in the Federal Treasury of the sum of RM β¦β¦β¦β¦β¦β¦ (say β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦) by β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦ of β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦ for a term of β¦β¦β¦β¦β¦β¦β¦β¦β¦ years at β¦β¦β¦β¦β¦β¦β¦β¦ per cent interest per annum.
Dated this β¦β¦.β¦.β¦ day of β¦..β¦β¦β¦20 β¦β¦β¦
β¦β¦β¦β¦β¦β¦β¦β¦β¦β¦ (Signature) Minister of Finance
Cite this legislation
- Official citation
- Act 236
- Source
- lom.agc.gov.my
- Data synced
- Licence
- Official text, free to reproduce (Copyright Act 1987 [Act 332] s 3) β
Treasury Deposit Receipts Act 1952 [Act 236] (Laws of Malaysia, lom.agc.gov.my). Retrieved via LawPlayer, https://lawplayer.com/my/act/act-236
This text is synced from lom.agc.gov.my. In case of any discrepancy, the official version prevails.
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).