Bank Simpanan Nasional Act 1974 s 23
s 23 Borrowing by staff
(1) Subject to subsection (2), the Bank shall not lend or advance money to an officer or employee except—
(a) for the purchase, erection, alteration, and renovation of a house in which he resides or intends to reside under rules approved by the Board;
(b) to discharge a mortgage or encumbrance on such a house; or
(c) for the purchase of a vehicle.
(2) When the Bank is satisfied that special or compassionate circumstances exist, it may approve a loan or advance to an officer or employee on such terms and conditions as the Board deems appropriate.
Malay text (authoritative)
Peminjaman oleh kakitangan
(1) Tertakluk kepada subseksyen (2), Bank tidak boleh meminjamkan atau mendahulukan wang kepada seseorang pegawai atau pekerja kecuali—
(a) bagi membeli, mendirikan, mengubah dan membaiki rumah yang di dudukinya atau yang dia bercadang hendak menduduki di bawah kaedah-kaedah yang diluluskan oleh Lembaga;
(b) untuk melepaskan sesuatu rumah daripada sesuatu gadai janji atau beban; atau
(c) bagi membeli kenderaan.
(2) Apabila Bank berpuas hati tentang adanya keadaan khas atau yang menimbulkan belas kasihan, Bank boleh meluluskan sesuatu pinjaman atau pendahuluan kepada seseorang pegawai atau pekerja mengikut terma dan syarat yang difikirkan sesuai oleh Lembaga.
Read this section in the full act → · Open Part V →
Find Act 146 on lom.agc.gov.my ↗
Text as at 1 December 2011 (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).
