(1) This Act may be cited as the Malayan Railway Provident Fund (Dissolution) Act 1995.
(2) This Act shall come into force on such date as the Minister may, by notification in the Gazette, appoint.
Act 534
Malayan Railway Provident Fund (Dissolution) Act 1995
Akta kumpulan wang simpanan keretapi tanah melayu (pembubaran) 1995
An Act to repeal the Malayan Railway Provident Fund Ordinance 1952, to dissolve the Malayan Railway Provident Fund established under the Ordinance, to transfer all its properties to Keretapi Tanah Melayu Berhad and to provide for other matters connected therewith.
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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 requires—
“Board” means the Board of managers established under subsection 4(1) of the Malayan Railway Provident Fund Ordinance 1952 [Ord. 21 of 1952];
“Fund” means the Malayan Railway Provident Fund established under section 3 of the Malayan Railway Provident Fund Ordinance 1952;
“KTMB” means Keretapi Tanah Melayu Berhad;
Laws of Malaysia Act 534 “Minister” means the Minister for the time being charged with the responsibility for transport.
The Malayan Railway Provident Fund Ordinance 1952 is repealed and the Fund established thereunder is dissolved.
All movable property and assets that immediately before the commencement of this Act were vested in the Fund or in any person on its behalf shall, on the commencement of this Act, be transferred to, and be vested with, KTMB.
Subject to section 7 all moneys in the Fund or due to be paid to the Fund shall, on the commencement of this Act, be transferred to, and be vested with, KTMB.
All deeds, bonds, agreements, instruments and working arrangements subsisting immediately before the commencement of this Act and affecting any of the property transferred under sections 4 and 5, shall be of full force and effect against or in favour of KTMB and enforceable as fully and effectually as if, instead of the Board, the Fund, the Malayan Railway Administration, or any person or body acting on its behalf, KTMB had been named therein or had been a party thereto.
All amounts standing to each depositor’s credit in the Fund that represent contributions to the Fund both by the Malayan Railway Administration as the employer and the depositor since 1 July 1952 together with any dividend, bonus and interest thereon shall be transferred to the Employees Provident Fund established under subsection 24(1) of the Employees Provident Fund Act 1991 [Act 452], and to be dealt with in accordance with the provisions of that Act.
(1) Any civil proceedings or cause of action pending or existing immediately before the commencement of this Act by or against the Board or any person acting on its behalf may be continued or instituted by or against KTMB as it might have been by or against the Board or such person as if this Act had not been passed.
(2) Any appeal brought or any leave to appeal applied for on or after the commencement of this Act against a decision before the commencement of this Act in any legal proceedings to which the Board or any person acting on its behalf was a party may be brought by or against KTMB.
All rules made under section 11 of the Malayan Railway Provident Fund Ordinance 1952 shall be repealed immediately upon the commencement of this Act.
Laws of Malaysia Act 534
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- Official citation
- Act 534
- Source
- lom.agc.gov.my
- Data synced
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- Official text, free to reproduce (Copyright Act 1987 [Act 332] s 3) ↗
Malayan Railway Provident Fund (Dissolution) Act 1995 [Act 534] (Laws of Malaysia, lom.agc.gov.my). Retrieved via LawPlayer, https://lawplayer.com/my/act/act-534
This text is synced from lom.agc.gov.my. In case of any discrepancy, the authoritative text 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).