Trustee Act 1949 s 7
s 7 Statutory powers of investment
(1) In the case of trustees constituted under any written law, section 5 shall apply only in so far as the Minister may direct.
(2) Where any body of persons, not being trustees, have under any written law power (however expressed) to make the like investments as trustees are for the time being authorized by law to make, section 5 shall not apply to the body except in so far as the Minister may direct.
(3) The Minister may direct that any specified body of persons, not being trustees constituted under any written law, which apart from this subsection would not have the like power of investment as is conferred by section 5, shall have that power to such extent as may be specified in the direction.
(4) Any direction under this section may be given generally or in a particular case, and unconditionally or subject to conditions.
*NOTE—The words “Public Trustee” is now refered to as “corporation” under the name of Amanah Raya Berhad incorporated under the Companies Act 1965 [Act 125] pursuant to section 3–see section 2 and subsection 43(3) of the Public Trust Corporation Act 1995 [Act 532]. **NOTE—Banking Act 1973 [Act 102] has been repealed by Banking and Financial Institutions Act 1989 [Act 372]–see subsection 128(1) of Act 372.
Malay text (authoritative)
Kuasa pelaburan statutori
(1) Dalam hal pemegang-pemegang amanah yang dilantik di bawah mana-mana undang-undang bertulis, seksyen 5 adalah terpakai hanya setakat yang diarahkan oleh Menteri.
(2) Jika mana-mana golongan orang, yang bukannya pemegang amanah, mempunyai kuasa di bawah mana-mana undang-undang bertulis (walau bagaimanapun dinyatakan) untuk membuat pelaburan yang sama seperti pelaburan yang pemegang amanah pada masa itu dibenarkan oleh undang-undang membuat, seksyen 5 tidaklah terpakai bagi golongan itu kecuali setakat yang diarahkan oleh Menteri.
(3) Menteri boleh mengarahkan supaya mana-mana golongan orang tertentu, yang bukannya pemegang amanah yang dilantik di bawah mana-mana undang bertulis, yang selain subseksyen ini tidak mempunyai kuasa pelaburan yang sama seperti yang diberi di bawah seksyen 5, hendaklah mempunyai kuasa itu setakat yang dinyatakan dalam arahan itu.
(4) Apa-apa arahan di bawah seksyen ini boleh diberi secara am atau dalam hal tertentu, dan diberi tanpa syarat atau tertakluk kepada syarat-syarat.
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Find Act 208 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).
