s 6 Establishment of an Investment Panel
(1) There shall be established an Investment Panel responsible for matters pertaining to the investment of the assets of the Tabung and the Reserve Fund established under section 11.
(2) The Investment Panel shall consist ofβ
(a) a Chairman who shall be appointed by the Minister on the advice of the Lembaga;
(b) (Deleted by Act A1506);
(c) the Chief of Defence Forces;
(ca) a representative from the Ministry of Defence;
(d) a representative from the Ministry of Finance;
(e) four other members with experience and expertise in business, investment, investment risks management, actuary, banking, legal or finance who shall be appointed by the Minister on the advice of the Lembaga.
(2A) For the purpose of paragraph (2)(a), the Chairman shall not be the Chairman of the Lembaga.
(2B) In determining whether a person is fit and proper for the purposes of subsection (2), the Minister shall have regard toβ
(a) the probity, competence and soundness of judgment of the person in fulfilling his responsibilities as a member of the Investment Panel; and
(b) the diligence with which the person is likely to fulfil his responsibilities as a member of the Investment Panel.
(2C) Without prejudice to the generality of subsection (2), a person shall be disqualified from being appointed or being a member of the Investment Panel, if heβ
(a) is an undischarged bankrupt;
(b) has been convicted of an offence relating to the promotion, formation or management of a company or corporation;
(c) has been convicted of an offence involving bribery, fraud or dishonesty;
(d) has been convicted of an offence under any written law which is designed for protecting members of the public;
(e) has been disqualified by an order of the court to act as a director under any written law; or
(f) has engaged in or has been associated with, any business practice, or otherwise conducted himself in such a way as to cast doubt on his competence and soundness of judgment.
(2D) The circumstances referred in subsection (2C) shall be applicable to circumstances in or outside Malaysia.
(3) The provisions of the Second Schedule shall have effect with respect to the Investment Panel.
Malay text (authoritative)
Penubuhan suatu Panel Pelaburan
(1) Suatu Panel Pelaburan yang bertanggungjawab bagi perkara berhubung dengan pelaburan aset Tabung hendaklah ditubuhkan dan Kumpulan Wang Rizab yang ditubuhkan di bawah seksyen 11.
(2) Panel Pelaburan hendaklah terdiri daripadaβ
(a) seorang Pengerusi yang dilantik oleh Menteri atas nasihat Lembaga;
(b) (Dipotong oleh Akta A1506);
(c) Panglima Angkatan Tentera;
(ca) seorang wakil daripada Kementerian Pertahanan;
(d) seorang wakil daripada Kementerian Kewangan;
(e) empat orang anggota lain yang mempunyai pengalaman dan kepakaran dalam perniagaan, pelaburan, pengurusan risiko pelaburan, aktuari, perbankan, undang-undang atau kewangan yang hendaklah dilantik oleh Menteri atas nasihat Lembaga.
(2A) Bagi maksud perenggan (2)(a), Pengerusi tidak boleh menjadi Pengerusi Lembaga.
(2B) Dalam menentukan sama ada seseorang itu layak dan sesuai bagi maksud subseksyen (2), Menteri hendaklah mengambil kiraβ
(a) kejujuran yang tidak diragui, kecekapan dan kewajaran pertimbangan orang itu dalam memenuhi tanggungjawabnya sebagai anggota Panel Pelaburan; dan
(b) ketekunan yang membolehkan orang itu memenuhi tanggungjawabnya sebagai anggota Panel Pelaburan.
(2C) Tanpa menjejaskan keluasan subseksyen (2), seseorang tidak layak untuk dilantik atau hilang kelayakan menjadi anggota Panel Pelaburan, jika diaβ
(a) seorang bankrap yang belum dilepaskan;
(b) telah disabitkan atas suatu kesalahan yang berhubungan dengan penganjuran, penubuhan atau pengurusan suatu syarikat atau perbadanan;
(c) telah disabitkan atas suatu kesalahan yang melibatkan sogokan, fraud atau kecurangan;
(d) telah disabitkan atas suatu kesalahan di bawah mana-mana undang-undang bertulis yang dimaksudkan untuk melindungi orang awam;
(e) telah hilang kelayakan melalui perintah mahkamah untuk bertindak sebagai pengarah di bawah mana-mana undang-undang bertulis; atau
(f) telah terlibat dalam atau telah dikaitkan dengan, apa-apa amalan perniagaan, atau selainnya berkelakuan dengan sedemikian cara sehingga menimbulkan keraguan tentang kewibawaan dan kewajaran pertimbangannya.
(2D) Hal keadaan yang disebut dalam subseksyen (2C) hendaklah terpakai bagi hal keadaan di dalam atau di luar Malaysia.
(3) Peruntukan Jadual Kedua hendaklah berkuat kuasa berkenaan dengan Panel Pelaburan.
Read this section in the full act β Β· Open Part II β
Find Act 101 on lom.agc.gov.my β
Text as at 1 November 2022 (LOM reprint); amendments made after that date may not be incorporated.
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).
