Issue and form of stock
(1) Stock issued under this Act shall be issued on behalf of the Minister by the Bank, upon such terms as may be approved by the Minister, and shall be authenticated either by the signature of the Governor, or by a facsimile of such signature, or in such manner as may be approved by the Governor. (2) Stock issued under this Act shall be in such form as the Governor may from time to time approve.
Refusal of application
Any application to take up stock issued under this Act may be refused by the Governor without reason assigned.
Register of Stock
(1) All stock issued under this Act shall be entered in a register to be kept for the purpose by the Bank in such form as may from time to time be approved by the Governor. (2) All stock issued under this Act, and the right to receive the principal moneys and interest represented thereby, shall be transferable by an instrument of transfer registered by the Bank. (3) No stock issued under this Act shall be registered except in the name of an individual person or persons or of a corporation.
Payment of interest
(1) The interest upon the principal moneys represented by stock issued under this Act shall be paid half-yearly at the office of the Bank. Laws of Malaysia ACT 650 (2) The Minister shall, in each half-yearly period ending with the day on which interest on stock issued under this Act falls due, appropriate out of the Consolidated Fund a sum equal to one-half year’s interest on the whole of the stock so issued in order that the interest for such half year may be paid from it.
Fee payable to the Bank
The Minister may fix such fee as he considers reasonable for the performance by the Bank of any powers or duties conferred or imposed under this Act, and the fee so fixed is charged on and appropriated out of the Consolidated Fund.
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Text as at 30 March 2006 (LOM reprint); amendments made after that date may not be incorporated. Read the official text ↗
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).