Development Financial Institutions Act 2002 s 47
s 47 Property of trust fund as collateral
(1) No prescribed institution shall provide the property of a trust fund as collateral for a financing facility granted by any person to the prescribed institution or to any other person.
(2) Any prescribed institution that contravenes subsection (1) commits an offence and shall on conviction be liable to a fine not exceeding twenty-five million ringgit.
Read this section in the full act β Β· Open Part V β
Find Act 618 on lom.agc.gov.my β
Text as at 1 August 2016 (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).
