Text recovered by OCR from a scanned copy — section numbers and wording may be wrong. Check the official PDF on lom.agc.gov.my before citing.
s 5
In the event of the bankruptcy of any person to whom money has been advanced by way of loan upon such a contract as is mentioned in subparagraph 4(c)(iv), or of any buyer of a goodwill in consideration of a share of the profits of the business, the lender of the loan shall not be entitled to recover anything in respect of his loan, and the seller of the goodwill shall, not be entitled to recover anything in respect of the share of profits contracted for, until the claims of other creditors of the borrower or buyer for valuable consideration in money or money's worth have been satisfied.
Malay text (authoritative)
Sekiranya berlaku kebankrapan seseorang, yang hak seseorang yang kepadanya wang telah didahulukan melalui pinjaman memberi atas suatu kontrak sebagaimana tersebut dalam seksyen pinjaman atau menjual 4 (c) (iv), atau kebankrapan seseorang pembeli namasebagai baik sebagai balasan bagi suatu bahagian daripada balasan keuntungan perniagaan itu, pemberi pinjaman itu tidak bahagıan berhak mendapat balik apa-apa jua berkenaan dengan keuntungan pinjamannya, dan penjual nama-baik itu tidak berhak dalam hal kebankrapan. mendapat balik apa-apa jua berkenaan dengan bahagian keuntungan yang dikontrakkan, sehingga tuntutan pemiutang-pemiutang lain bagi peminjam atau pembeli bagi balasan bernilai dalam bentuk wang atau nilaian wang telah diselesaikan. Erti firma dan namafirma.
Text as at 1 June 2000 (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).
