Kootu Funds (Validation) Act 1974 s 3
s 3 Certain kootu funds to be lawful and enforceable
(1) It is hereby declared that all kootu funds which were in operation on or before 18 February 1971 and were operated by a company—
(a) which has been wound up in accordance with paragraph 8(2)(b) of the Kootu Funds (Prohibition) Act 1971; or
(b) which has been wound up in accordance with the provisions of the Companies Act 1965,
shall, notwithstanding any law to the contrary, be lawful and enforceable.
(2) The reference in this section to the winding up of a company includes, in the case of a foreign company, a reference to the winding up of the affairs of the foreign company so far as the assets of the foreign company within Malaysia are concerned.
Malay text (authoritative)
Kumpulan wang kutu tertentu adalah sah di sisi undang-undang dan boleh dikuatkuasakan
(1) Adalah dengan ini diisytiharkan bahawa semua kumpulan wang kutu yang telah berjalan pada atau sebelum 18 Februari 1971 dan telah dijalankan oleh suatu syarikat—
(a) yang telah digulung mengikut perenggan 8(2)(b) Akta (Larangan) Kumpulan Wang Kutu 1971; atau
(b) yang telah digulung mengikut peruntukan Akta Syarikat 1965,
walau apa pun undang-undang yang berlawanan, sah di sisi undangundang dan boleh dikuatkuasakan.
(2) Sebutan dalam seksyen ini mengenai penggulungan sesuatu syarikat termasuk, jika syarikat itu suatu syarikat asing, sebutan mengenai penggulungan hal ehwal syarikat asing itu setakat yang aset berkenaan syarikat asing itu yang terdapat dalam Malaysia berkenaan.
Read this section in the full act →
Find Act 142 on lom.agc.gov.my ↗
Text as at 1 January 2006 (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).
