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← Co-operative Societies Act 1993

Co-operative Societies Act 1993 s 25

Co-operative Societies Act 1993 s 25

s 25 Deposits by or on behalf of child

(1) A co-operative society may receive deposits from or for the benefit of children and the co-operative society may pay a bonus out of its net profit on such deposits. (2) Any deposit made by or for the benefit of the child may, together with the bonus, be paid to the child or to the guardian of that child for the use of that child. (3) The receipt of any child or guardian for money paid to him by a co-operative society under this section shall be a sufficient discharge of the liability of the co-operative society in respect of that money.

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

Find Act 502 on lom.agc.gov.my ↗

Text as at 1 April 2015 (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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