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← Bank Simpanan Nasional Berhad Act 1997

Bank Simpanan Nasional Berhad Act 1997 s 42

Bank Simpanan Nasional Berhad Act 1997 s 42

s 42 Limitations, terms and conditions in respect of giving of credit facility

(1) The Minister may specify limitations, terms and conditions in respect of the giving of any class, category or description of credit facilities to be given by the Bank, including the giving of any credit facilities to any person— (a) for the purposes of financing— (i) the purchase of securities or the making of any payment that may be due on securities already purchased; (ii) the purchase or development of immovable property; (iii) the purchase or holding of any interest in the shares of any corporation; (iv) the purchase or holding of any derivative instrument; or (v) the purchase or holding of any other property as may be prescribed by the Minister; or (b) on the security of any securities, immovable property, interest in shares, derivative instrument or any other property. (2) Where the Bank fails to comply with subsection (1), it shall not exceeding five 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 five million ringgit or to imprisonment for a term not exceeding five years or to both.

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

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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