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Cooperative Societies Ordinance 1948 has since been revised as the Cooperative Societies Act 1948 [Act 287] and later repealed by the Cooperative Societies Act 1993 [Act 502]– see paragraph 95(1)(a) of Act 502.