Bank Simpanan Nasional Act 1974 s 29
s 29 General Reserve Fund
(1) There shall be a General Reserve Fund of the Bank.
(2) At the end of each financial year, the net profit of the Bank for that year shall be determined after allowing for the expenses of operation and after making provision for bad and doubtful debts, depreciation in assets, contribution to staff provident or pension funds and such other contingencies as are usually provided for by banks.
(3) The net profit determined under subsection (2) shall be dealt with as follows:
(a) such part as the Board may direct shall be placed to the credit of the General Reserve Fund; and
(b) any excess shall be carried in the profit and loss account for the ensuing financial year.
(4) The Board may appropriate such portion of the General Reserve Fund as may be necessary for the purpose of—
(a) meeting losses arising from any revaluation or disposal of assets;
(b) maintaining reasonable rates of interest payments on deposits in the Bank;
(c) carrying out the general business of the Bank; and
(d) such other purposes as may be approved by the Minister in keeping with the objects of this Act.
Malay text (authoritative)
Kumpulan Wang Rizab Am
(1) Suatu Kumpulan Wang Rizab Am bagi Bank hendaklah diadakan.
(2) Pada penghujung tiap satu tahun kewangan, keuntungan bersih Bank bagi tahun itu hendaklah ditentukan selepas mengambil kira belanja pengendalian dan selepas membuat peruntukan bagi hutang lapuk dan ragu, susut nilai aset, caruman kepada kumpulan wang simpanan atau pencen kakitangan dan apa-apa luar jangkaan lain yang biasanya diperuntukkan oleh bank.
(3) Keuntungan bersih yang ditentukan di bawah subseksyen (2) hendaklah diuruskan seperti berikut:
(a) apa-apa bahagian yang diarahkan oleh Lembaga hendaklah diletakkan pada kredit Kumpulan Wang Rizab Am; dan
(b) apa-apa lebihan hendaklah dibawa ke dalam akaun untung-rugi bagi tahun kewangan berikutnya.
(4) Lembaga boleh menguntukkan apa-apa bahagian Kumpulan Wang Rizab Am yang perlu bagi maksud—
(a) menampung kerugian yang timbul daripada apa-apa penilaian semula atau pelupusan aset;
(b) menyenggara pembayaran bunga dengan kadar yang berpatutan ke atas deposit dalam Bank;
(c) menjalankan urusan am Bank; dan
(d) apa-apa maksud lain sebagaimana yang diluluskan oleh Menteri sesuai dengan tujuan Akta ini.
Read this section in the full act → · Open Part VI →
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).
