← Bank Simpanan Nasional Berhad Act 1997

Bank Simpanan Nasional Berhad Act 1997 s 34

s 34 Advance against security of own shares or shares of holding company

(1) The Bank shall not give any credit facility, or enter into any other transaction, against the security of its own shares or the shares of its holding company. (2) Where the Bank fails to comply with subsection (1), it shall not exceeding three million ringgit. (3) Where the Bank is guilty of an offence under subsection (2), any person who at the time of the commission of the offence was a person responsible for the Bank shall also be guilty of that offence and shall on conviction be liable to a fine not exceeding three million ringgit or to imprisonment for a term not exceeding three years or to both.

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Find Act 571 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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