Co-operative Societies Act 1993 s 54

s 54 Investment of funds

(1) Subject to its by-laws, a co-operative society may invest its surplus funds in— (a) any securities issued by the Government of Malaysia, Bank Negara Malaysia or any other securities approved by the Commission; or (b) shares of any other co-operative society. (2) Unless otherwise provided in the regulations, no co-operative society shall invest its surplus funds in— (a) bonds or debentures of any other co-operative society; (b) the securities of any company or any body corporate registered in Malaysia, other than those specified in subsection (1); (c) its subsidiaries; or (d) any other manner as may be specified by the Commission. (3) Any co-operative society or officer of the co-operative society who fails to comply with subsection (2) commits an offence and shall, on conviction— (a) in the case of a co-operative society, be liable to a fine not exceeding one million ringgit; or (b) in the case of an officer of the co-operative society, be liable to a fine not exceeding one million ringgit or to imprisonment for a term not exceeding one year or to both.

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

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).

What to look at next

Co-operative Societies Act 1993, full textChapter navigation and full text, so you can read this section in contextMalaysia legislation Malaysia Acts by type and yearGrouped by instrument type and year of enactment, so you can find others of the same kindBrowse by type and year Part VI — Property and funds of co-operative societies — read this in contextThe surrounding text of the act in order, so you can see what comes before and afterChapters and sections