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← Bank Kerjasama Rakyat Malaysia Berhad (Special Provisions) Act 1978

Bank Kerjasama Rakyat Malaysia Berhad (Special Provisions) Act 1978 s 14

Bank Kerjasama Rakyat Malaysia Berhad (Special Provisions) Act 1978 s 14

s 14 Authorized business of the Bank

(1) In addition to the powers, functions, duties, and responsibilities conferred or imposed on the Bank by the *Ordinance, the rules made thereunder, and the by-laws of the Bank, the Bank may— (a) make loans to, and stand guarantee for any loan of money to, any person, whether or not a member of the Bank; (b) grant and issue letters of credit to any person, whether or not a member of the Bank; (c) acquire, hold, issue on commission, underwrite, and deal with stock, bonds, funds, obligations, securities, and investments of all kinds; (d) transact all manner of agency business; (e) acquire and undertake the whole or any part of the business of any person or company carrying on any business of the same nature as the Bank may lawfully carry on, or possessed of property suitable for the purposes of the Bank; (f) maintain accounts with other banks in Malaysia; (g) carry on any other business expressly authorized by the Minister with the concurrence of the Minister of Finance. (2) In exercising its powers and carrying out its functions, the Bank shall give paramount consideration to its primary objective of raising the economic status of its members. (3) The Minister may, with the concurrence of the Minister of Finance, by order published in the Gazette exempt the Bank from any provisions of the *Ordinance or direct that any of the provisions of the *Ordinance shall apply to the Bank with such modifications as may be specified in the order. (4) No investment exceeding the amount determined by the Minister with the concurrence of the Minister of Finance shall be made by the Board in exercise of its powers under *section 33 of the *Ordinance or under subsection (1), unless prior written approval of the Minister, given with the concurrence of the Minister of Finance, has been obtained. *NOTE—The Cooperative Societies Ordinance 1948 has since been revised as the Cooperative Societies Act 1948 [Act 287] and later repealed by the Cooperative Societies Act 1993 [Act 502]– see paragraph 95(1)(a) of Act 502.

Malay text (authoritative)

Urusan yang dibenarkan bagi Bank

(1) Selain daripada kuasa, fungsi, kewajipan, dan tanggungjawab yang diberikan kepada atau dipertanggungkan ke atas Bank oleh *Akta Koperasi 1993, kaedah-kaedah yang dibuat di bawahnya, dan undang-undang kecil Bank, Bank boleh— (a) memberikan pinjaman kepada, dan menjadi penjamin bagi apa-apa pinjaman wang kepada, mana-mana orang sama ada ahli Bank atau tidak; (b) memberikan dan mengeluarkan surat kredit kepada mana-mana orang, sama ada ahli Bank atau tidak; (c) memperoleh, memegang, mengeluarkan atas komisen, menanggung insuran, dan menguruskan saham, bon, kumpulan wang, kewajipan, sekuriti, dan pelaburan daripada segala jenis; (d) menjalankan segala cara urusan agensi; (e) memperoleh dan menjalankan kesemua atau apa-apa bahagian urusan mana-mana orang atau syarikat yang menjalankan apa-apa urusan daripada jenis yang sama sebagaimana yang boleh dijalankan dengan sah oleh Bank, atau yang memiliki harta yang sesuai bagi maksud Bank; (f) menyenggara akaun dengan bank lain di dalam Malaysia; * CATATAN- Akta Koperasi 1993 [Akta 502] telah memansuhkan Akta Koperasi 1948 [Akta 287] - lihat perenggan 95(1)(a) Akta 502. Bank Kerjasama Rakyat Malaysia Berhad (Peruntukan Khas) 17 (g) menjalankan apa-apa urusan lain yang dibenarkan dengan nyata oleh Menteri dengan persetujuan Menteri Kewangan. (2) Pada menjalankan kuasa dan melaksanakan fungsinya, Bank hendaklah memberi pertimbangan yang paling utama kepada matlamat utamanya untuk meninggikan taraf ekonomi ahlinya. (3) Menteri boleh, dengan persetujuan Menteri Kewangan, melalui perintah yang disiarkan dalam Warta mengecualikan Bank daripada mana-mana peruntukan *Akta Koperasi 1993 atau mengarahkan supaya mana-mana peruntukan *Akta Koperasi 1993 terpakai bagi Bank dengan apa-apa ubah suaian yang dinyatakan dalam perintah itu. (4) Tiada pelaburan melebihi amaun yang ditetapkan oleh Menteri dengan persetujuan Menteri Kewangan boleh dibuat oleh Lembaga pada menjalankan kuasanya di bawah seksyen 54 *Akta Koperasi 1993 atau di bawah subseksyen (1), melainkan jika kelulusan bertulis daripada Menteri, yang diberikan dengan persetujuan Menteri Kewangan, telah didapati terlebih dahulu.

Read this section in the full act → · Open Part III →

Find Act 202 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).

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