Central Bank of Malaysia Act 2009 s 84

s 84 Financing for housing, vehicles, studies and scholarships

(1) Without prejudice to subsections 83(4) and (5), but subject to subsections (2), (3) and (4), the Bank shall not extend financing to an officer or employee. (2) The Bank may extend financing to an officer or employee upon such terms and conditions as the Board may determine— (a) for the purchase, erection, alteration, renovation or enlargement of a house in which he resides or intends to reside; (b) to discharge a mortgage or encumbrance on such a house; or (c) for the purchase of a vehicle. (3) The Bank may, where the Governor is satisfied that special or compassionate circumstances exist or the purpose is appropriate, extend financing to an officer or employee on such terms and conditions as the Governor may determine, not exceeding at any one time an amount equal to three months’ salary of the officer or employee. (4) The Bank may extend financing for studies or scholarships to any officer or employee of the Bank or any child, including a step-child or adopted child of such officer or employee, or to any suitable person, in accordance with such terms and conditions as may be approved by the Board generally or in any particular case.

Malay text (authoritative)

Pembiayaan bagi perumahan, kenderaan, pengajian dan biasiswa

(1) Tanpa menjejaskan subseksyen 83(4) dan (5), tetapi tertakluk kepada subseksyen (2), (3) dan (4), Bank tidak boleh memberikan pembiayaan kepada seseorang pegawai atau pekerja. (2) Bank boleh memberikan pembiayaan kepada seseorang pegawai atau pekerja atas apa-apa terma dan syarat sebagaimana yang ditentukan oleh Lembaga— (a) bagi membeli, mendirikan, mengubah, mengubahsuaikan atau membesarkan rumah yang didiaminya atau dicadangkan didiaminya; (b) untuk melepaskan suatu gadai janji atau bebanan atas rumah itu; atau (c) bagi pembelian kenderaan. (3) Bank boleh, jika Gabenor berpuas hati bahawa wujud hal keadaan khas atau belas kasihan atau maksudnya sesuai, memberikan pembiayaan kepada seseorang pegawai atau pekerja atas apa-apa terma dan syarat yang ditentukan oleh Gabenor, yang tidak melebihi pada bila-bila masa suatu amaun yang bersamaan dengan tiga bulan gaji pegawai atau pekerja itu. (4) Bank boleh memberikan pembiayaan bagi pengajian atau biasiswa kepada mana-mana pegawai atau pekerja Bank atau mana-mana anak, termasuk anak tiri atau anak angkat pegawai atau pekerja itu, atau kepada mana-mana orang yang sesuai, mengikut apa-apa terma dan syarat sebagaimana yang diluluskan oleh Lembaga secara amnya atau dalam mana-mana hal tertentu.

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

Find Act 701 on lom.agc.gov.my ↗

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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