ACT 452
EMPLOYEES PROVIDENT FUND ACT 1991

An Act to provide for the law relating to a scheme of savings for employees' retirement and the management of the savings for the retirement purposes and for matters incidental thereto.

[1 June 1991, P.U. (B) 264/1991; Subs. Act A1300; 2007]

BE IT ENACTED by the Duli Yang Maha Mulia Seri Paduka Baginda Yang di-Pertuan Agong with the advice and consent of the Dewan Negara and Dewan Rakyat in Parliament assembled, and by authority of the same, as follows:

1. This Act may be cited as the Employees Provident Fund Act 1991.
2. This Act shall come into force on such date as the Minister may, by notification in the Gazette, appoint.

In this Act, unless the context otherwise requires -
"additional amount" means the amount which may be paid under section 58;

[Am. Act A1300/2007]

"amount of wages for the month" means -

1. in respect of an employee paid monthly or at intervals of longer than a month, the amount of wages due to him in respect of the month; or
2. in respect of any other employee, the aggregate amount of wages due to him on such pay days as fall within the month:

Provided that where arrears of wages are paid to an employee upon any wage revision, such arrears of wages shall for the purposes of this Act be deemed to be part of the amount of wages for the month in which the arrears of wages are paid in addition to the amount of wages due to him in respect of the month referred to in paragraph (a) or (b);

"appointed day" means the day appointed by the Minister under subsection 1(2);

"approved company" means a company -

1. incorporated in Malaysia and having a place of business in Malaysia;
2. 1. having as its sole or primary object the promotion of home ownership by advancing for the purchase of lands and buildings sums of money, repayable by instalments of principal and interest over a fixed period of years, not exceeding at any time the valuation of such lands and buildings made by a licensed land surveyor or a licensed appraiser; or
   2. in which the Government of Malaysia has participation and having as its sole or primary object the financing of industries; and
3. approved by the Minister by notification in the Gazette for the purpose of receiving loans from the Board in accordance with section 26A;

[Am. Act A914/1995]

"approved fund" means-

1. a provident fund or other scheme for the benefit of employees established by an employer or by a group of employers and declared by the Board under section 52 to be an approved fund, and includes-
   1. any scheme in respect of persons who are in the employment of the Government of Malaysia, any State Government or any statutory or local authority and are emplaced on the pensionable establishment;
   2. any arrangement in respect of persons in the employment of any organization where the appointment to such organization is made by or with the approval of the Government of Malaysia of a person who prior to such appointment was in the employment of the Government of Malaysia, any State Government or any statutory or local authority and where the period of service with such organization is reckonable for the purposes of the grant of any pension, gratuity or other benefit by the Government of Malaysia under any written law relating to pensions,
      
      and if any doubt arises as to whether any person is in such employment or not, the decision of the Minister shall be final; or
2. any scheme expressly established by any written law immediately before 6 August 1970, for the benefit of the employees in any trade, business, industry or occupation:
   
   Provided that such scheme shall cease to be an approved fund upon the Minister declaring that it shall cease to be so;

"Board" means the Employees Provident Fund Board established under section 3;

"Chairman" in relation to the Board includes the Deputy Chairman;

"loan" includes financing in accordance with Shariah;

[Ins. Act A1504/ 2016]

"chief executive officer" means any person appointed to be a chief executive officer under section 30 of the Act;

[Ins. Act A958/ 1996]

"credit" means the contributions standing to the account of a member of the Fund together with any dividend thereon;

"employee" means any person, not being a person of the descriptions specified in the First Schedule, who is employed under a contract of service or apprenticeship, whether written or oral and whether expressed or implied, to work for an employer;

[Am. Act A914/1995; A1123/2001]

"employer" means the person with whom an employee has entered into a contract of service or apprenticeship and includes-

1. a manager, agent or person responsible for the payment of salary or wages to an "employee";
2. any body of persons whether or not statutory or incorporated; and
3. any Government, department of Government, statutory bodies, local authorities or other bodies specified in the Second Schedule and, where an employee is employed with any such Government, department, authority or body or with any officer on behalf of any such Government, department, authority or body, the officer under whom such employee is working shall be deemed to be an employer:

   Provided that no such officer shall be personally liable under this Act for anything done or omitted to be done in good faith by him as an officer of such employer;

"Fund" means the fund set up under section 24;

"gratuity" means any payment paid by an employer to an employee upon completion of service or voluntary resignation as a recognition of such employee's service;

[Ins. Act A914/1995]

"house" means any dwelling house built or being built and includes a flat, condominium or shophouse built or being built for the purpose of dwelling or partly for dwelling and partly for carrying on a business, trade or profession therein;

"Inspector" means an Inspector appointed under section 34;

[Am. Act A914/ 1995]

"member of the Fund" means a person who has an account and credit with the Fund;

[Am. Act A1300/ 2007]

"Minister" means the Minister charged with responsibility for matters relating to the Employees Provident Fund Board;

[Am. Act A914/ 1995]

"month" means a calendar month or a part thereof;

"new scheme" means the revised salaries and terms and conditions of service of employees in the service of the Government of Malaysia or of any State or of a statutory or local authority arising from the revision of salaries and terms and conditions of service of such employees made by the Government of Malaysia or of any State;

"overtime payment" means any payment due from an employer to an employee for work carried out in excess of the normal working hours of such employee and includes any payment paid to an employee for work carried out on public holidays and rest days;

[Ins. Act A914/1995]

"pensionable employee" means an employee who has been emplaced in the appropriate pensionable establishment or is deemed to have been so emplaced under any written law affecting the emplacement of employees in the appropriate pensionable establishment by the Government of Malaysia or of any State or by any statutory or local authority;

"person" includes any agent, company, association or body of persons corporate or unincorporate;

"prescribed by the Board" means prescribed by rules made under this Act;

[Ins. Act A1300/ 2007]

"prescribed by the Minister" means prescribed by regulations made under this Act;

[Ins. Act A1300/ 2007]

"retirement benefit" means any payment paid to an employee upon retirement either compulsory or optional or on medical grounds as stated under the contract of service of the employee;

[Ins. Act A914/1995]

"self-employed person" means any person who is gainfully occupied and is not an employee;

"service charge" means any money or payment, whether in the form of a service charge, a service fee, a tip, or otherwise howsoever described, which has been paid by, charged on, collected from, or voluntarily given by, a customer or any other person (not being the employer) in relation to the employer's business and which is payable to an employee whether in whole or in part, directly or indirectly, and whether under a contract of service between the employer and the employee, or otherwise;

"special housing loan" means any loan to an approved company solely for the purpose of relending to borrowers for the purchase of low cost houses;

[Ins. Act A914/1995]

"wages" means all remuneration in money, due to an employee under his contract of service or apprenticeship whether agreed to be paid monthly, weekly, daily or otherwise and includes any bonus, commission or allowance payable by the employer to the employee whether such bonus, commission or allowance is payable under his contract of service, apprenticeship or otherwise, but does not include-

[Am. Act A1080/ 2000]

1. service charge;
2. overtime payment;
3. gratuity;
4. retirement benefit;

   [Am. Act A1080/ 2000]

5. retrenchment, lay-off or termination benefits;

   [Ins. Act A914/ 1995]

6. any travelling allowance or the value of any travelling concession; or

   [Ins. Act A914/ 1995]

7. any other remuneration or payment as may be exempted by the Minister.

[Ins. Act A914/ 1995]

For the purposes of managing the Fund and for carrying into effect the purposes of this Act, a body corporate by the name of "Employees Provident Fund Board" is established with perpetual succession and a common seal, and which may sue and be sued in its corporate name and, subject to and for the purposes of this Act, may enter into contracts and may acquire, purchase, take, hold and enjoy movable and immovable property of every description and may convey, assign, surrender, yield up, charge, mortgage, demise, reassign, transfer or otherwise dispose of, or deal with any movable or immovable property or any interest therein vested in the Board upon such terms as it deems fit.

1. The Board shall consist of-
   1. a Chairman;
   2. a Deputy Chairman to be appointed from amongst the persons referred to in subparagraph (d)(i);
   3. the chief executive officer, who shall be an ex-officio member; and

      [Am. Act A958/ 1996]

   4. not more than twenty other members of whom-

      [Am. Act A1611/ 2019]

      1. not more than five shall be persons who are holding office of emolument under the Government of Malaysia or of a State;

         [Am. Act A1611/ 2019]

      2. not more than five shall be employers contributing to the Fund and not being persons holding office of emolument under the Government of Malaysia or of a State or employed by any statutory or local authority;

         [Am. Act A1611/ 2019]

      3. not more than five shall be employees contributing to the Fund; and

         [Am. Act A1611/ 2019]

      4. not more than five shall be persons who shall have knowledge or experience in finance, business, economy, social security or other relevant knowledge or experience.

         [Am. Act A1611/ 2019]

2. Where the Chairman is not a representative of the Ministry of Finance, the Minister shall appoint a representative of the Ministry of Finance to be a member of the Board under subparagraph (1)(d)(i) who shall also be appointed the Deputy Chairman.
3. Members of the Board shall be appointed by the Minister and, subject to sections 6 and 7 shall, unless they sooner resign or their appointment is sooner revoked, hold office for such term as the Minister may determine.
4. Members of the Board shall not be entitled to any remuneration but may be paid such honorarium and travelling and subsistence allowances as the Minister may determine.

[Am. Act A914/ 1995]

1. The Minister may in respect of each of the members appointed under subparagraph 4(1)(d)(i) appoint by name a person to be an alternate member to attend meetings of the Board in place of the member when the member is for any reason unable to attend.
2. When attending meetings of the Board in place of a member, an alternate member shall for all purposes be deemed to be a member of the Board.
3. An alternate member shall cease to be an alternate member when the member in respect of whom he is an alternate member ceases to be a member of the Board.

(1) Subject to subsection 7(2), sections 8 and 22, a member of the Board, other than the chief executive officer, shall hold office for a term not exceeding three years.

[Am. Act A958/ 1996; A1611/ 2019]

(2) A member of the Board referred to in subsection (1) shall be eligible for reappointment but no member shall hold office for a total term of more than twelve years.

[Ins. Act A1611/ 2019]

1. A member of the Board, including the Deputy Chairman, may at any time resign his office by a written notice addressed to the Chairman, and in the case of the Chairman by a written notice addressed to the Minister.
2. The Minister may at any time revoke the appointment of a member of the Board if he thinks it is expedient so to do without assigning any reason therefor.

A member of the Board shall be deemed to have vacated his office-

1. upon his death; or
2. upon his failure to attend three consecutive meetings of the Board without the permission of the Chairman.

[Subs. Act A1611/2019]

1. The Chairman or the Deputy Chairman and eight other members shall form a quorum at all meetings of the Board.

   [Am. Act A1611/ 2019]

2. In the absence of the Chairman, the Deputy Chairman shall preside at all meetings of the Board and, may exercise all the powers of the Chairman in respect of that meeting.
3. The Board shall have powers to determine the conduct of its proceedings.

1. If on any question to be determined there is an equality of votes, the Chairman shall have the casting vote in addition to his original vote.
2. Where the Chairman is also the chief executive officer, he shall have no vote in his capacity as the chief executive officer.

[Am. Act A958/ 1996]

The Minister may give to the Board directions of a general nature not inconsistent with the provisions of this Act as to the exercise of the functions and powers of the Board and the Board shall give effect to those directions.

The Board shall furnish the Minister with such information relating to its activities as he may, from time to time, require.

All deeds, documents and other instruments requiring the seal of the Board shall be sealed with the common seal of the Board in the presence of the Chairman and the chief executive officer, or either the Chairman or the chief executive officer and one other member of the Board or any two other members of the Board, and any deed, document or instrument purporting to be sealed with the common seal of the Board and so authenticated shall until the contrary is proved, be deemed to have been validly executed:

         Provided that where the Chairman is also the chief executive officer the common seal of the Board shall be sealed in the presence of the Chairman and one other member of the Board or any two other members of the Board.

[Am. Act A914/ 1995]

1. The Board shall have such powers and shall perform such duties as are given or imposed by this Act
2. The Board may, by instrument under its seal, appoint any person and delegate to such person whether in Malaysia or any place outside Malaysia all or any of such powers and duties of the Board and the person so appointed may, subject to the instrument, do any act or exercise any power or carry out any duty which he is authorized by the instrument to do or execute.
3. The Board may employ and pay agents, advocates and solicitors, bankers, stockbrokers or any other persons, to transact any business or do any act required to be transacted or done in the exercise of its powers or in the carrying out of its duties or for the better carrying into effect of the purposes of this Act.

1. The Board may establish and manage a general reserve and other reserve accounts.
2. The payment into and out of the reserve accounts shall be determined by the Board.

Notwithstanding any other provisions of this Act, the Board may appoint any person or establish any committee in respect of any matter relating to the management and administration of the Fund.

The Board may grant loans and make advances to its officers and servants on such terms and conditions as the Board may determine.

1. An Investment Panel responsible for matters pertaining to the investments of the Fund and which shall consist of the following members is established:
   1. the Chairman, or any other person to be appointed by the Minister, who shall be the Chairman of the Investment Panel;
   2. the Deputy Chairman who shall be a representative of the Ministry of Finance;
   3. (Deleted by Act A1611/ 2019))
   4. the chief executive officer, who shall be an ex-officio member; and
   5. four other persons who shall have knowledge or experience in finance, business, economy or other relevant knowledge or experience, to be appointed by the Minister.

      [Subs. Act A1300/ 2007; Am. Act A1611/ 2019]

2. The Investment Panel shall be subject to such directions issued by the Board and approved by the Minister, from time to time.
3. Members of the Investment Panel shall not be entitled to any remuneration but may be paid such honorarium and travelling and subsistence allowances as the Board may, with the approval of the Minister, determine.

A member of the Investment Panel shall be deemed to have vacated his office-

1. upon his death; or
2. upon his failure to attend three consecutive meetings of the Investment Panel without the permission of the Chairman of the Investment Panel.

1. The Chairman or the Deputy Chairman of the Investment Panel and two other members of the Investment Panel shall form a quorum at all meetings of the Investment Panel.

   [Am. Act A1300/2007]

   
   (1A) In the absence of the Chairman, the Deputy Chairman shall preside at all meetings of the Investment Panel and, shall exercise all powers of the Chairman in respect of that meeting.

   [Ins. Act A1300/2007]

2. Subject to subsection 18(2), the Investment Panel shall have powers to determine the conduct of its proceedings.

1. If on any question to be determined there is an equality of votes, the Chairman of the Investment Panel shall have the casting vote in addition to his original vote.
2. Where the Chairman is also the chief executive officer and he is appointed to be the Chairman of the Investment Panel, he shall have no vote in his capacity as the chief executive officer.

The following persons shall be disqualified from being appointed as a member of the Board or the Investment Panel or if he is a member of the Board or Investment Panel he shall cease to be such a member:

1. a person who is of unsound mind or is otherwise incapable of performing his duties;
2. a person who has been convicted of an offence and sentenced to imprisonment for a term of not less than one year;
3. a person who has been convicted of an offence involving fraud, dishonesty, or moral turpitude; or
4. a bankrupt.

1. Every member of the Board or the Investment Panel, having directly or indirectly by himself, his spouse or children, any interest in any matter under discussion by the Board, the Investment Panel or any committee of which he is a member, shall disclose to the Board, the Investment Panel or committee, as the case may be, the fact of his interest and the nature thereof as soon as practicable after the relevant fact has come to his knowledge.
2. Any member of the Board, the Investment Panel or committee who fails to disclose his interest as provided under subsection (1) shall be guilty of an offence and shall, on conviction, be liable to imprisonment for a term not exceeding three years or to a fine not exceeding ten thousand ringgit or to both.
3. Every declaration under this section shall be recorded in the minutes of the Board, the Investment Panel or committee, and after any declaration made under subsection (1) the member of the Board, the Investment Panel or committee, as the case may be, shall-
   1. not take part nor be present in any deliberation or decision of the Board, the Investment Panel or committee relating to the matter; and
   2. be disregarded for the purposes of constituting a quorum of the Board, the Investment Panel or committee for such deliberation or decision.
4. No act or proceedings of the Board, the Investment Panel or committee shall be invalidated on the ground that any member of the Board, the Investment Panel or committee has contravened the provisions of this section.

1. The Board shall establish a Shariah Advisory Committee which shall be the authority for the ascertainment of Shariah matters for the purposes of advising the Board and the Investment Panel in ensuring that the management of the accounts of the members of the Fund whose elections under section 43A have come into effect complies with Shariah principles, including the contributions, investment and dividend.
2. The Shariah Advisory Committee may determine its own procedures.

[Ins. Act A1504/2016]

The Shariah Advisory Committee shall have the following functions:

1. to ascertain the application of Shariah principles on any matter relating to the accounts of the members of the Fund whose elections under section 43A have come into effect;
2. to advise the Board and the Investment Panel on any matter relating to Shariah and the application of Shariah principles on any matter relating to the accounts of the members of the Fund whose elections under section 43A have come into effect;
3. such other functions as may be prescribed by the Board.

[Ins. Act A1504/2016]

1. The Board shall may appoint such number of persons, which shall not be less than three, from amongst persons who are qualifield in Shariah, or who have knowledge or experience in Shariah and in banking, finance, law or such other related disciplines, as members of the Shariah Advisory Committee.
2. Members of the Shariah Advisory Committee shall not be entitled to any remuneration but may be paid such honorarium, any travelling and subsistence allowances, as the Board may determine.

[Ins. Act A1504/2016]

1. The Board and the Investment Panel shall refer to the Shariah Advisory Committee any matter relating to Shariah and any matter which requires the ascertainment of Shariah principles by the Shariah Advisory Committee relating to the accounts of the members of the Fund whose elections under section 43A have come into effect.
2. The advice given by the Shariah Advisory Committee on any matter reffered under subsection (1) shall be binding on the Board and the Investment Panel.

[Ins. Act A1504/2016]

1. For the purpose of this Act there shall be established a fund to be called the "Employees Provident Fund", into which shall be paid-
   1. all contributions required to be made under this Act;
   2. money earned by carrying out any project, scheme or enterprise financed from the Fund;
   3. moneys earned or arising from any property, investments, mortgages, charges or debentures acquired by or vested in the Board; and
   4. all other sums or property which may in any manner become payable to or vested in the Board in respect of any matter incidental to its powers and duties.
2. The Fund shall be expended for the purpose of-
   1. meeting all payments required to be made under this Act;
   2. investment under this Act;

      [Am. Act A914/1995]

   3. granting of loans and making of advances to officers and servants of the Board;
   4. paying, any expenses lawfully incurred by the Board including survey or legal fees and costs or any other fees and costs under section 14 and, the remuneration of officers and servants appointed and employed by the Board including superannuation allowances, pensions or gratuity;

      [Am. Act A914/1995]

   5. paying any other expenses, costs or expenditure properly incurred or accepted by the Board in the execution of its powers and the carrying out of its duties;

      [Am.Act A914/1995]

   6. repaying any moneys borrowed under this Act if any, and the interest due thereon; and
   7. generally paying any expenses for carrying into effect the provisions of this Act and in connection with the administration of the Fund.

[Am. Act A914/1995]

The Board shall be the trustee of the Fund.

[Subs. Act A914/1995]

1. The Board may subject to subsection 18 (2), invest moneys belonging to the Fund in the following manner:

    

   1. to be deposited in-
      1. Bank Negara Malaysia; or
      2. a bank or an investment bank duly licensed under the Financial Services Act 2013 [Act 758]; or

         [Subs. Act A1504/2016]

      3. an Islamic bank duly licensed under the Islamic Financial Services Act 2013 [Act 759];or

         [Subs. Act A1504/2016]]

      4. a development financial institution regulated under the Development Financial Institutions Act 2002 [Act 618];

         [Ins. Act A1504/2016]

   2. to be invested in-
      1. shares offered pursuant to an initial public offering which have been approved under the Capital Markets and Services Act 2007 [Act 671] or shares listed on a stock exchange which have been approved under the same Act;
         or

         [Subs. Act A1504/2016]

      2. debentures of any public company;

          

   3. in bonds or purchasing of mortgage papers, commercial notes, bankers acceptances, money market papers, certificates of deposits, private debt securities, promissory notes and bills of exchange within the meaning of the Bills of Exchange Act 1949 [Act 204] and other negotiable instrument of similar nature;
   4. in accordance with the provisions of the Trustee Act 1949 [Act 208]:
      Provided however, where the Board invests in or upon titles to immovable property in Malaysia in accordance with paragraph 4(1)(c) of the Trustee Act 1949, such immovable property may or may not yield any income at the time of such investment;
   5. to provide loans to the Goverment of Malaysia or the State Government; and

      [Am. Act A1504/2016]

   6. to provide loans to members of the Fund subject to such terms and conditions as may be determined by the Board for the purpose of purchasing or building a house.
2. The Board may with the written approval of the Minister, invest moneys belonging to the Fund in the following manner:
   1. to be deposited in any bank or financial institution established by or under any written law;
   2. to be invested in any joint venture;
   3. by participating in any privatization programme;
   4. to provide loans to any company incorporated under the Companies Act 1965 [Act 125] or any corporation established by or under any written law;
   5. by investing in any investment outside Malaysia;

      [Am. Act A1300/2007]

      (ea) by participating in or by carrying out dealings in any derivative instruments; or

      [Am. Act A1300/2007]

   6. investing in any other form of investment.
3. For the purpose of this section-

   "debenture" includes debenture stock, bonds, notes and any other securities of a corporation whether constituting a charge on the assets of the corporation or not;

   [Am. Act A1300/2007]

   "derivative instruments" means a financial contract including forward contract, futures contract and option contract; and

   [Am. Act A1300/2007]

   "share" means paid-up shares (whether fully paid or not) in the share capital of a company and includes stocks and rights to subscribe for any stocks and shares.

4. The Board may, where a foreign currency is required as an instrument of investment, in exercising the investment which has been approved under this section, make loan of the foreign currency for the purpose of the investment.

[Ins. Act A1300/2007]

[Ins. Act A914/1995; Am. Act A958/1996]

1. In addition to the powers of the Board to invest in accordance with section 26, the Board may invest-
   1. in loans to an approved company or the buying of shares in an approved company; or
   2. in special housing loans to an approved company.
2. No moneys belonging to the Fund shall be invested in accordance with subsection unless-
   1. the paid-up ordinary share capital of the approved company is not less than five million Malaysian ringgit;
   2. the approved company has paid a dividend at the rate of not less than five per centum upon such ordinary share capital during each of the last three years prior to the time of investment and where the approved company is a company which has acquired the assets and liabilities of another approved company, payment of a dividend by that other company during each of the last three years prior to the time of such acquisition shall be treated as payment by the approved company;
   3. in the case of an approved company having as its sole or primary object the promotion of home ownership and, the total amount of the borrowings of the approved company from all sources, excluding the amount of any special housing loan, whether trustee or not, accepted by the approved company on loan and deposit, and including interest due thereon and not repaid by the approved company, does not at any time exceed three-fourth of the amount, excluding prospective interest, for the time being secured to the approved company from its borrowers:
      
      Provided that the Minister may vary any limitation imposed on the total amount of the borrowings of the approved company in this paragraph;

      [Ins. Act A958/ 1996]

   4. a certificate that the provisions of paragraphs (a), (b) and (c) of this subsection were complied with in respect of the last financial year of the approved company, if incorporated in the auditor's report annexed to the approved company's annual accounts required to be prepared under the Companies Act 1965, to which the approved company is subject, shall be conclusive in favour of the Board making such investment; and
   5. any agreement as to repayment made between the Board and the approved company shall be immediately determined if-
      1. the approved company shall cease to comply with any of the provisions of paragraphs (a), (b) and (c) of this subsection;
      2. the approved company shall fail to obtain a certificate in the terms and in the manner stated in paragraph (d) of this subsection; or
      3. the Minister may at any time by notification in the Gazette, order that the company shall cease to be an approved company in consequence of his considering that the company has departed from its sole or primary object,
      and any moneys belonging to the Fund shall be repayable immediately thereupon.

[Ins. Act A914/1995]

1. Subject to any variation which the Minister may make under subsection (2), the Board shall invest or re-invest at least fifty per centum of the moneys belonging to the Fund and invested or reinvested during any one year, in securities issued by the Government of Malaysia, provided that the total amount of moneys so invested in such securities at any one time shall not be less than seventy per centum of the Fund's total investments.
2. The Minister may, upon the application of the Board, vary the percentage specified in subsection (1).

   [Subs. Act A1123/2001]

3. For the purpose of this section, securities issued by the Government of Malaysia shall include-
   1. loans which are fully guaranteed by the Government of Malaysia;
   2. negotiable securities or instruments which are fully guaranteed by the Government of Malaysia including negotiable securities or instruments issued by a corporation fully owned by the Government of Malaysia;
   3. Bank Negara Malaysia papers; [Am. Act A958/1996]
   4. negotiable securities or instruments which are fully guaranteed by Bank Negara Malaysia including negotiable securities or instruments issued by a corporation which is fully owned by Bank Negara Malaysia;

      [Am. Act A958/1996]

   5. any commercial instrument (with elements of negotiability) issued by a State Government or a local authority with a maturity period of at least three years from the date of issue; and
   6. any deposit in advance subscription account in Bank Negara Malaysia under subparagraph 26(1) (a)(i).

[Ins. Act A958/1996]

1. The Board may, in exercising the investment powers under this Act, from time to time, with the special approval of the Minister-
   1. establish a corporation by such name as the Board may think fit;
   2. incorporate a company under the Companies Act 1965 by such name as the Board may think fit; or
   3. take over any company, to carry out, administer, conduct and manage any project, joint venture, privatization programme, scheme, enterprise or any other matters which have been planned or undertaken by the Board.
2. The Seventh Schedule shall apply to a corporation established under paragraph 1(a) and the Companies Act 1965 shall apply to a company incorporated or taken over under paragraph (1)(b) or (c), respectively.

[Subs. Act A1504/2016]

1. At or after the end of the financial year, being the 31st December of each year, the Board shall, with the approval of the Minister, declare a dividend on contributions to the Fund in respect of that year-
   1. in relation to contributions made by the members of the Fund who have not elected for their accounts to be managed according to Shariah under section 43A or who have made the elections under section 43A but the elections have not come into effect, at any rate according to the actual performance of the investment made by the Board in relation to the accounts which shall not be less than two and one half per centum per annum; and
   2. in relation to contributions made by the members of the Fund whose elections under section 43A have come into effect, at any rate according to the actual performance of the investment made by the Board in relation to the accounts.
2. Subject to section 50, the dividend declared under subsection (1) shall be payable on contributions to the Fund according to the accounts of the members of the Fund respectively.
3. Notwithstanding paragraphs (1)(a) and (b), no rate of dividend exceeding two and one half per centum per annum shall be so declared-
   1. unless the Board is satisfied that the ability of the Fund to meet all payments required to be paid under this Act is not endangered by the declaration of such rate; and
   2. if any sums advanced by the Government of Malaysia under section 28 have not then been repaid.

If the Fund is at any time unable to pay any sum which the Fund is required to pay under this Act, the sum required to be so paid shall be charged on and advanced to the Fund from the Federal Consolidated Fund and the Fund shall as soon as practicable repay to the Government of Malaysia the sum so advanced.

The annual accounts of the Fund shall be audited in accordance with the provisions of the Statutory Bodies (Accounts and Annual Reports) Act 1980 [Act 240].

[Ins. Act A958/1996, Subs. Act A1300/2007]

1. Notwithstanding anything contrary to the provisions of this Act, the Board may, subject to any regulations and rules made under this Act—
   1. authorize an application made by a member of the Fund for investment in fund management institutions or other institutions approved by the Minister for investment purposes in any investments approved by the Minister; and
   2. authorize transfer of any amount standing to the credit of such member of the Fund into fund management institutions or other institutions approved by the Minister subject to any terms and conditions as he thinks appropriate.
2. Where the Board has authorized the transfer of a sum of money standing to the credit of such member under subsection (1)—
   1. such amount so authorized shall not be paid dividend as declared by the Board under section 27; and
   2. such amount shall be deemed withdrawn from the credit of such member at the Fund from the date such member has attained the age of fifty-five years and such member may deal directly with the fund management institutions or other institutions approved by the Minister in relation to the credit.

[Am. Act A1080/2000]

Appointment of the chief executive officer, officers and servants of the Board

1. The Minister shall appoint a fit and proper person, on such terms and conditions as he may determine, as chief executive officer, who may be designated by any name as determined by the Board.

   [Subs. Act A958/1996]

2. Where no appointment of the chief executive officer is made under subsection (1), the Chairman shall exercise the duties of the chief executive officer and shall be known as the Executive Chairman and any remuneration or allowance paid shall be determined by the Minister.

   [Am. Act A914/1995]

3. The Board shall appoint such number of other officers or servants, as it considers necessary for the efficient conduct of the business of the Board, on such terms and conditions as may be determined by the Board, who may be designated by any name as determined by the Board.

   [Am. Act A914/1995, Subs. Act A958/1996]

4. The chief executive officer shall, subject to the direction of the Board on matters of policy, be charged with the day to day administration and management of the affairs of the Board and the administrative control of its officers and servants.
5. Subject to sections 31 and 33, it shall be the duty of the Board to appoint, confirm, emplace on the permanent or pensionable establishment, promote, transfer and exercise disciplinary control over its officers and servants.
6. The Board may delegate to any member of the Board, officer or to any committee, comprising of such members or officers or both such members and officers, appointed by it, any of its functions under subsection (5) and that member, officer or committee shall exercise those functions under the direction and control of the Board.

[Am. Act A1080/2000]

Establishment of the Disciplinary Committee

[Subs. Act A1300/2007]

1. A Disciplinary Committee of the Board responsible for matters relating to the disciplines of the officers and servants of the Board is established.

   [Am. Act 914/1995, Am. Act A958/1996]

2. The Disciplinary Committee shall consist of five members of the Board to be appointed by the Board, one of whom shall be appointed chairman of the Committee.

   [Am. Act 914/1995, Am. Act A958/1996]

3. The chairman of the Disciplinary Committee and two members of the Committee shall form a quorum at all meetings of the Disciplinary Committee.

   [Am. Act A958/1996, Am. Act A1080/2000]

4. The Disciplinary Committee shall have powers to determine the conduct of its proceedings.

   [Am. Act A958/1996, Am. Act A1080/2000]

5. In the exercise of its disciplinary functions, the Disciplinary Committee shall have the power to take such disciplinary action and impose such disciplinary punishment as provided by any disciplinary rules made under section 73.

   [Am. Act A1080/2000]

6. The Disciplinary Committee may, subject to subsection (7), delegate any of its disciplinary functions, powers or duties other than the disciplinary punishment of dismissal or reduction in rank to any officer or servant of the Board, or to any committee of officers and servants of the Board, in respect of any particular officer or servant of the Board or in respect of any class or category of officers or servants of the Board, and the officer and servant or committee delegated with such functions, powers or duties shall carry out, exercise or discharge them under the direction and control of the Disciplinary Committee which shall have the power to review, rescind or vary any decision or finding of such officer or servant or such committee.
7. No delegation shall be made under subsection (6) so as to enable an officer or servant of the Board to exercise any disciplinary authority or to be a member of a committee which may exercise any disciplinary authority over an officer or servant who is superior to him in rank.

[Am. Act A914/1995]

[Ins. Act A1300/2007]

1. A Disciplinary Appeal Committee of the Board responsible for matters relating to appeals against the decisions made by the Disciplinary Committee under section 31 is established.
2. The Disciplinary Appeal Committee shall consist of seven members of the Board to be appointed by the Board, one of whom shall be appointed chairman of the Committee.
3. The chairman of the Disciplinary Appeal Committee and four other members of the Disciplinary Appeal Committee shall form a quorum at all meetings of the Disciplinary Appeal Committee.
4. The Disciplinary Appeal Committee shall have powers to determine the conduct of its proceedings.
5. Any officer or servant of the Board who is aggrieved by the decision of the Disciplinary Committee or of any person or committee delegated with powers, functions or duties under subsection 31(5) may appeal against such decision to the the Disciplinary Appeal Committee within thirty days from the date of the service of the decision to the last known address of the officer or servant.
6. The decision of the Disciplinary Appeal Committee shall be final.

1. If the Board is satisfied that any person who is or was in the employment of the Board-
   1. is or was responsible for any improper payment of moneys from the Fund or for any payment of such moneys which is not duly vouched;
   2. is or was responsible for any deficiency in, or for the destruction of, any moneys, stamps, securities, stores or other property of the Board;
   3. being or having been an accounting officer, fails or has failed to keep proper accounts or records; or
   4. has failed to make any payment, or is or was responsible for any delay in the payment, of moneys from the Fund to any person to whom such payment is due under any contract, agreement or arrangement entered into between that person and the Board,
   and if a satisfactory explanation is not furnished to the Board within a period specified by the Board, with regard to the failure to collect, improper payment, payment not duly vouched, deficiency or destruction, or failure to keep proper accounts or records, or failure to make payment, or delay in making payment, the Board may surcharge against the said person a sum not exceeding the amount of any such amount not collected, such payment, deficiency, or loss or the value of the property destroyed, as the case may be; and with regard to the failure to keep proper accounts or records, or the failure to make payment, or the delay in making payment, the Board may surcharge against the said person such sum as the Board may think fit.(2) The Board shall cause the chief executive officer to be notified of any surcharge made under subsection (1) and the chief executive officer shall thereupon notify the person surcharged.
2. The Board may at any time withdraw any surcharge in respect of which a satisfactory explanation has been received or if it otherwise appears that no surcharge should have been made, and the Board shall at once cause the chief executive officer to be notified of such withdrawal.
3. The amount of any surcharge imposed under subsection (1) and not withdrawn under subsection (3) shall be a debt due to the Board from the person against whom the surcharge is imposed and may be sued for and recovered in any court at the suit of the Board and may also be recovered by deduction-
   1. from the salary of the person surcharged if the Board so directs; or
   2. from the pension of the person surcharged if the Board so directs,
   by equal monthly instalments not exceeding one-fourth of the total monthly salary or pension, as the case may be, of the person.

1. A Promotion Committee of the Board in respect of officers and servants of the Board other than the chief executive officer, which shall consist of five members of the Board to be appointed by the Board, one of whom shall be appointed chairman of the Committee, is established.
    

   [Am.Act A914/1995, Subs. Act A958/1996, Subs. Act A1300/2007]
    

   (1A) The chairman of the Promotion Committee and two other members of the Promotion Committee shall form a quorum at all meetings of the Promotion Committee.

   [Am. Act A914/1995, Subs. Act A958/1996]
    

   (1B) If on any question to be determined there is an equality of votes, the chairman of the Promotion Committee shall have the casting vote in addition to his original vote.

   [Am. Act A914/1995, Subs. Act A958/1996]
    

   (1C) The Promotion Committee shall have powers to determine the conduct of its proceedings.

   [Am. Act A914/1995]

2. The Promotion Committee shall have such powers, functions and duties relating to the promotion of the officers and servants of the Board.
3. The Promotion Committee may delegate any of its powers, functions or duties to any officer or servant of the Board, or to any committee of officers or servants of the Board, in respect of any particular officer or servant of the Board or in respect of any class or category of officers or servants of the Board, and the officer or servant or committee delegated with such powers, functions or duties, shall carry out, exercise or discharge them under the direction and control of the Promotion Committee which shall have the power to review, rescind or vary any decision or finding of such officer or servant or such committee.
4. (Deleted by Act A1300).
5. (Deleted by Act A1300).

[Ins. Act A1300/2007]

Establishment of the Promotion Appeal Committee in respect of officers and servants of the Board

1. A Promotion Appeal Committee of the Board in respect of officers and servants of the Board responsible for matters relating to appeals against the decisions made by the Promotion Committee under section 33 is established.
2. The Promotion Appeal Committee shall consist of seven members of the Board to be appointed by the Board, one of whom shall be appointed chairman of the Committee.
3. The chairman of the Promotion Appeal Committee and four other members of the Promotion Appeal Committee shall form a quorum at all meetings of the Promotion Appeal Committee.
4. The Promotion Appeal Committee shall have powers to determine the conduct of its proceedings.
5. Any officer or servant of the Board who is aggrieved by the decision of the Promotion Committee or any person or committee delegated with powers, functions or duties under subsection 33(3) may appeal against such decision to the Promotion Appeal Committee within thirty days from the date of the service of the decision to the last known address of the officer or servant.
6. The decision of the Promotion Appeal Committee shall be final.

1. The Board may appoint such number of Inspectors as it may consider necessary for the purposes of this Act from any officer and servant appointed under subsection 30(3) and such appointment shall be published in the Gazette.

   [Am. Act A914/1995, Am. Act A1080/2000]

2. Subject to subsection (3), an Inspector appointed under subsection (1) shall have all the powers, functions and duties conferred under this Act.
3. An Inspector shall be subject to the direction and control of the chief executive officer, or of such other officer or servant of the Board as may be authorized by the chief executive officer to act on behalf of him, and of any other Inspectors superior to him in rank, and shall exercise his powers, perform his functions, and discharge his duties referred to in subsection (2) in compliance with such directions, instructions, conditions, restrictions or limitations as the chief executive officer, or an officer or servant of the Board authorized to act on behalf of him, or an Inspector superior in rank, may specify orally or in writing, either generally, or in any particular case or circumstances.
4. The chief executive officer shall have all the powers of an Inspector.
    

   [Am. Act A914/1995, Am. Act A1080/2000]
    

5. The Board may, in writing, vests in any officer of the Board who is not appointed as an Inspector under subsection (1) all or any of the powers, functions and duties of an Inspector.

[Subs. Act A1080/2000]

Subject to any regulations made under section 71, an Inspector or an officer vested with the powers of an Inspector may at any reasonable time-

1. enter any premises or place where persons are believed to be engaged as employees;
2. make such examination and inquiry as may be necessary for ascertaining whether the provisions of this Act or the regulations or rules made thereunder are being or have been complied with in any such premises or place;
3. examine either alone or in the presence of any other person with respect to any matters under this Act on which he may reasonably require information every person who he has reason to believe can give information respecting the subject matter of the inquiry, and require every such person to be examined and for the purposes of such examination may summon any such person to attend at the time and place specified in such summons; and
4. exercise such other powers as may be necessary for carrying this Act into effect.

[Am. Act A914/1995]

1. No person shall-
   1. refuse any Inspector exercising his powers under section 35, access to any premises or part thereof;
   2. assault, obstruct, hinder or delay such Inspector in effecting any entrance which he is entitled to effect;
   3. fail to comply with any lawful demands of an Inspector in the execution of his powers, functions and duties under section 35;
   4. refuse to give to an Inspector any information which may reasonably be required of him;
   5. fail to produce to, or conceal or attempt to conceal from, an Inspector, any property, book, other document, or article in relation to which the Inspector has reasonable grounds for suspecting that an offence has been or is being committed under this Act; or
   6. furnish to an Inspector as true, information which he knows or has reason to believe to be false.
   (1A) For the purpose of this section, an Inspector shall include any officer who is vested with the powers of an Inspector.

   [Ins. Act A914/1995]

2. Any person who contravenes the provisions of subsection (1) shall be guilty of an offence.

1. The Inspector or an officer vested with the powers of an Inspector, making any investigations under section 35 may examine orally any person whom he believes to be acquainted with the facts and circumstances of the case and shall reduce into writing any statement made by the person so examined.
2. The person so examined shall be legally bound to answer all questions relating to such case put to him by the examining officer:
   
   Provided that such person may refuse to answer any question the answer to which would have a tendency to expose him to a criminal charge or penalty or forfeiture.
3. A person making a statement under this section shall be legally bound to state the truth, whether or not such statement is made wholly or partly in answer to questions.
4. An officer examining a person under subsection (1) shall first inform that person of subsections (2) and (3).
5. A statement made by any person under this section shall, whenever possible, be taken down in writing and signed by the person making it or affixed with his thumb print, as the case may be, after it has been read to him in the language in which he made it and after he has been given an opportunity to make any corrections he may wish.

   [Am. Act A914/1995]

6. (Deleted by Act A914.)

[Ins. Act A914.]

Power of the Board to assess contributions based on information available

1. An Inspector or an officer vested with the powers of an Inspector may, assess any contributions which is due by any employer based on any information available if the employer-
   1. fails to keep or maintain any statement, particulars, register book or any record pertaining to each employee as required to be performed by him under this Act; or
   2. fails or refuse to submit any statement, particulars, register book or record pertaining to each employee as required to be submitted by him under this Act.
2. The assessment made under subsection (1) shall be sufficient proof of the Board's claim for the recovery of any contributions under section 65.

1. For the purpose of obtaining full information for ascertaining whether any person is liable to pay contributions under this Act, the chief executive officer may by notice in writing require any person-
   1. to furnish the chief executive officer within a time specified in the notice not being less than thirty days from the date of such notice any information or particulars specified in the notice;
   2. to attend personally before the chief executive officer or any officer appointed by him and produce for examination all books, accounts, records and other documents which the chief executive officer or officer deems necessary; or
   3. to furnish the information or particulars in accordance with paragraph (a) and also to attend in accordance with paragraph (b).
2. Any person who fails to comply with the provisions of subsection (1) shall be guilty of an offence.
   (2A) Where a person is found guilty of an offence under subsection (2), the Court before which the person is found guilty shall order such person to comply with the notice of the chief executive officer under subsection (1) within twenty-one days from the date of the order of the Court. [Ins. Act A1080/2000]
3. Whenever it appears to any magistrate, upon written information on oath, and after any enquiry he may think necessary, that there are reasonable grounds for suspecting that there are on particular premises any book, account, record or other document the production of which has been required pursuant to subsection (1) and which has not been produced in compliance with that requirement, such magistrate may issue a warrant authorizing the chief executive officer or any person named therein with or without assistance-
   1. to search the premises and to break open and search any cupboard, drawer, chest, trunk, box, package or other receptacle, whether a fixture or not, in the premises; and
   2. to take possession of, or secure against interference, any book, account, record or other document that appear to be book, account, record or other document the production of which was so required.

[Subs Act A1611/2019]

Preventing person from leaving Malaysia without paying contributions

1. 1. Where the chief executive officer has reason to believe that any person is about or is likely to leave Malaysia without paying any outstanding and due contributions under this Act the chief executive officer may issue to the Director General of Immigration a certificate containing particulars of the person and the outstanding and due contributions with a request that the person be prevented from leaving Malaysia, unless he pays the outstanding and due contributions, or furnishes security to the satisfaction of the chief executive officer for its payment.

      [Subs. Act A1300/2007, Subs. Act A1611/2019]

   2. Subject to any order issued or made under any written law relating to immigration, the Director General of Immigration upon receiving a request under paragraph (a) in respect of any person shall take or cause to be taken all such measures (including the use of reasonable force and the seizure, removal or retention of any certificate of identity and any passport, exit permit or other travel document relating to that person) as may be necessary to give effect to it.

      [Subs. Act A1611/2019]

   3. The chief executive officer shall cause notice of the issue of a certificate under paragraph (a) to be served personally or by registered post (addressed to his last known address) on the person to whom the certificate relates:
      
      Provided that the non-receipt of the notice by that person shall not invalidate anything done under this section.
   4. Where a person in respect of whom a certificate has been issued under paragraph (a) produces a written statement signed on or after the date of the issue of the certificate by the chief executive officer or an authorized officer to the effect that the outstanding and due contributions to the Fund specified in the certificate have been paid or that security has been furnished for their payment, the statement or the payment, as the case may be, shall be sufficient authority for allowing that person to leave Malaysia.

      [Subs. Act A1611/2019]

2. No legal proceedings shall be instituted or maintained against the Board, its officers and servants, the Government of Malaysia or any public officer in respect of anything lawfully done under this section.

   [Am. Act A1611/2019]

3. Any person who, knowing that a certificate has been issued in respect of him under subsection (1), leaves Malaysia without paying all the outstanding and due contributions specified in the certificate or furnishing security to the satisfaction of the chief executive officer for its payment shall be guilty of an offence and shall, on conviction, be liable to imprisonment for a term not exceeding six months or to a fine not exceeding two thousand ringgit or to both.

   [Ins. Act A1611/2019]

4. For the purpose of this section, “contributions” includes any dividend or late payment charges due on any contributions. 

   [Ins. Act A1611/2019]

(Deleted by Act A1300/2007)​​​

1. Every employer shall, unless he is already registered with the Board, before the end of the first week in the first month in which he is paying wages in respect of which he is required to pay contributions under this Act, register with the Board in the manner as may be prescribed by the Board.
2. Any employer who contravenes subsection (1) shall be guilty of an offence and shall, on conviction, be liable to imprisonment for a term not exceeding three years or to a fine not exceeding ten thousand ringgit or to both.
3. Where any person ceases to be an employer, within the meaning of this Act, he shall, within the period as prescribed by the Board, notify the Board of the same in the manner as may be prescribed by the Board.

   [Am. Act A1300/2007]

4. Any person who contravenes subsection (3) shall be guilty of an offence.

1. Every employer shall prepare and furnish statement of wages to each and every employee and the statement of wages shall contain such information as may be prescribed by the rules.
2. Every employer shall prepare and keep one or more registers containing such information as may be prescribed by the rules and such register shall be kept for such period that every particular recorded therein shall be available for inspection for not less than six years after the recording thereof.

1. Subject to section 52, every employee and every employer of a person who is an employee within the meaning of this Act shall be liable to pay monthly contributions on the amount of wages for the month at the rate respectively set out in the Third Schedule.

   [Ins. Act A914/1995]

   (1A) Subject to section 52, the monthly contribution of every employee and employer who are subject to the minimum wages order made under the National Wages Consultative Council Act 2011 [Act 732] shall not be less than the monthly contributions based on the amount of the minimum wages for the month as determined under the minimum wages order at the rate respectively set out in the Third Schedule.

   [Ins. Act A1504/2016]

2. Any person being an employer who fails, within such period as may be prescribed by the Minister, to pay to the Fund any contributions which he is liable under this Act to pay in respect of or on behalf of any employee in respect of any month shall be guilty of an offence and shall, on conviction, be liable to imprisonment for a term not exceeding three years or to a fine not exceeding ten thousand ringgit or to both.

   [Subs. Act A1300/2007]

3. Without prejudice to the provisions of subsection (1), an employer and an employee or either of them may, at any time elect to pay monthly contributions at a rate which exceeds the rate respectively set out in the Third Schedule by one ringgit or a multiple of one ringgit subject to any maximum limit of monthly contributions set out in the Third Schedule.

   [Am. Act A1504/2016, Ins. Act A1300/2007]

4. Notice of such election shall be given to the Board in such manner as may be prescribed by the Board and where any such notice has been given, this Act shall, in respect of any employer or employee who has elected as aforesaid, apply as if the rate of contribution which such employer or employee has elected to pay, were the rate respectively set out in the Third Schedule:
   
   Provided that an election cannot be made to take effect retrospectively.

   [Am. Act A1080/2000]

5. An employer and an employee or either of them may, at any time, revoke his election made under subsection (4).
6. Notice of such revocation shall be given to the Board in such manner as may be prescribed by the Board and where any such notice has been given, this Act shall, in respect of any employer or employee who has revoked as aforesaid, apply as if such employer or employee has not elected to pay the excess contribution:
   
   Provided that a revocation cannot be made to take effect retrospectively.

   [Am. Act A1080/2000]

7. In the event of the death of an employee, no contributions shall be due under this section by or on behalf of such employee in respect of the month during which such death occurs:
   
   Provided that where any such contribution has been received it shall be paid into the Fund in accordance with section 50.

   [Ins. Act A914/1995]

8. Notwithstanding subsection (1)-
   1. a self-employed person;
   2. a pensionable employee;
   3. any person not being an employer or an employee, whether or not within the meaning of this Act; or

      [Ins. Act A1080/2000, Ins. Act. A1611/2019]

   4. any person not being an employer and not being an employee whether or not within the meaning of this Act and both have given their consent to contribute,

      [Subs. Act. A1611/2019]

   may, by giving notice in such manner as may be prescribed by the Board, elect to pay monthly contributions in accordance with the rate as prescribed by the Board.

   [Pin. Act A1080/2000]

9. The Board may, subject to any terms and conditions as prescribed by the Board, return—
   1. the exceeded amount of contributions paid under subsection (3) or (8); or
   2. any contribution which is paid by any persons who has no liability to contribute.

[Ins. Act A1300/2007]

1. A member of the Fund may elect for all amount standing to the credit of his account to be managed according to Shariah subject to any terms and conditions as may be prescribed by the Board.
2. The election under subsection (1) shall be made in such manner as may be prescribed by the Board and the election shall take effect from the date as determined by the Board.
3. The Board shall notify the effective date of the election determined under subsection (2) to the member of the Fund not less than seven days before the effective date.
4. The member of the Fund may, before the effective date of the election determined under subsection (2), revoke his election in such manner as may be prescribed by the Board.
5. After the election made under subsection (1) is effective, the Board shall segregate the account of such member of the Fund from other accounts of the members of the Fund-
   1. who have not made the election under subsection (1); and
   2. who have made the election under subsection (1) but the election has not come into effect,
      
      for the purposes of managing the account of the member of the Fund according to Shariah.

[Ins. Act A1504/2016]

[Subs. Act A1123/2001]

1. In addition to section 43, an employer or any other person may at any time, with the consent of the employee, remit to the Board—
   1. any funds being retirement benefits of the employee; or
   2. any funds from any other retirement scheme or plan relating to the employee,
   in any manner as may be prescribed by the Board.
2. An employee or any other person may at any time remit to the Board any funds from any retirement scheme or plan relating to the employee or person in any manner as may be prescribed by the Board.
3. Upon the Board receiving the funds as remitted under subsection (1) or (2), the Board shall cause the funds to be paid into the Fund in accordance with section 50.

[Ins. Act A1300/2007]

Adding up credit into the account of a member of the Fund

In addition to sections 43 and 44, any person prescribed by the Board may add up credit into the account of a member of the Fund by remitting a sum of money to the Board, subject to any terms and conditions as prescribed by the Board, and any maximum limit of monthly contributions set out in the Third Schedule.

Payment of contributions

1. Except where otherwise provided in this Act, the employer shall, in the first instance, be liable to pay both the contributions payable by himself and also, on behalf of and to the exclusion of the employee, the contributions payable by that employee; and for the purposes of this Act contributions paid by an employer on behalf of an employee shall be deemed to be contributions by the employee.
2. Contributions payable by the employer for himself and on behalf of the employee under subsection (1) shall be paid in respect of the first and subsequent months' wages.
3. Notwithstanding section 49, where an employer fails to pay any contributions due within such period as prescribed by the Minister, the employer shall, in addition to such contributions, be liable to pay dividend on such contributions at the rate and in accordance with any manner and calculation determined by the Board.

   [Ins. Act 914/1995, Subs. Act A958/1996, Subs. Act A1504/2016, Subs. Act A1300/2007]

4. Any employer who contravenes subsection (3) shall be guilty of an offence and shall, on conviction, be liable to imprisonment for a term not exceeding three years or to a fine not exceeding ten thousand ringgit or to both.

[Ins. Act A914/1995]

Joint and several liability of directors, etc.

1. Where any contributions remaining unpaid by a company, a firm or an association of persons, then, notwithstanding anything to the contrary in this Act or any other written law, the directors of such company including any persons who were directors of such company during such period in which contributions were liable to be paid, or the partners of such firm, including any persons who were partners of such firm during such period in which contributions were liable to be paid, or the office-bearers of such association of persons, including any persons who were office-bearers of such association during such period in which contributions were liable to be paid, as the case may be, shall together with the company, firm or association of persons liable to pay the said contributions, be jointly and severally liable for the contributions due and payable to the Fund.
2. For the purpose of this section-

   [Ins. Act A914/1995; Subs. Act A1504/2016]
    

   "contribution" shall be deemed to include any dividend and late payment charges due on any contributions;

   "partner"-

   1. means any partner referred to in the Partnership Act 1961 [Act 135]; or
   2. has the meaning assigned to it under the Labuan Limited Partnerships and Limited Liability Partnerships Act 2010 [Act 707] and the Limited Liability Partnerships Act 2012 [Act 743].".

1. Notwithstanding any contract to the contrary, the employer shall not be entitled to deduct or otherwise recover from the wages or remuneration of the employee, the employer's contribution, from the employee.

   [Am. Act A914/1995]

2. If an employer deducts or attempts to deduct from the wages or remuneration of any employee the whole or any part of the employer's contribution, he shall be guilty of an offence and shall, on conviction, be liable to imprisonment for a term not exceeding six years or to a fine not exceeding twenty thousand ringgit or to both.

1. Subject to this section, the employer shall be entitled to recover from the employee, in accordance with this section, the amount of any contribution payable on behalf of the employee.
2. The amount of any contribution payable by the employer on behalf of the employee shall, notwithstanding any written law or any contract to the contrary, be so recoverable by means of deductions from the wages of the employee due from the employer to the employee and not otherwise.
3. Any employer who deducts the employee's contributions from the wages of an employee and fails to pay such deducted sum or any part thereof to the Fund shall be guilty of an offence and shall, on conviction, be liable to imprisonment for a term not exceeding six years or to a fine not exceeding twenty thousand ringgit or to both.
4. No deduction of any contribution shall be made as provided by subsection (2)-
   1. except at the time wages are paid to the employee; and
   2. other than of the contribution in respect of the wages which are then being paid:

      
      Provided that, subject to such conditions as may be prescribed by the Board, where an employer has, by error not occasioned by that employer's negligence, omitted to deduct any contribution or part of any contribution payable by him on behalf of the employee, then, such contribution or part thereof may be deducted from the wages payable by such employer to the employee not later than six months from the date of the payment of the wages in respect of which the contribution or part thereof was omitted to be deducted.

      [Am. Act A914/1995]

5. Any employer who contravenes subsection (4) shall be guilty of an offence.
6. (Deleted by Act A914).

[Am. Act A1504/2016]

Late payment charges on contribution in arrears

1. Where the amount of the monthly contributions or part of any monthly contributions which an employer is liable to pay under section 45 is not paid within such period as prescribed by the Minister, the employer shall be liable, in addition to the dividend to be paid under subsection 45(3), to pay late payment charges to be credited to the Fund on such amount at such rate and in accordance with any manner and calculation determined by the Board.

   [Am.Act A1504/2016, Subs. Act A1300/2007]

2. The Board may in any case in which it thinks fit remit in whole or part the payment of any late payment charges due under this section.

[Am. Act A1504/2016]

1. All sums collected, recovered or transferred under this Act shall be paid into the Fund in such manner as the Board shall direct.

   [Am. Act A1080/2000]

2. The Board shall cause to be credited to each member's account-
   1. the amount of any contributions paid in his respect by the employer on his own behalf and on behalf of such member of the Fund;

      [Am. Act A914/1995]

   2. dividend on any amount standing to the credit of such member at the rate declared under section 27 in such manner as the Board may prescribe; and

      [Am. Act A958/1996]

   3. any other moneys paid on behalf of such member under this Act.

      [Am. Act A958/1996]

   (2A) For the purpose of crediting any amount of money into the account of a member of the Fund under subsection (2), the Minister may prescribe any number of accounts in respect of a member of the Fund and prescribe the percentage to be credited into each account.

   [Ins. Act A1080/2000]

   (2B) Notwithstanding paragraphs 2(a) and 2(b)

   [Am. Act A1504/2016]

   1. no amount of contributions or money may be credited into the account of a member of the Fund after such member has attained the age of seventy-five years; and
   2. dividend shall be credited on any amount standing to the credit of a member of the Fund until all sums of money standing to the credit of such member are transferred to the Registrar of Unclaimed Money under section 51A.

   [Ins. Act A1300/2007]

   
   (2C) Notwithstanding subsection (2), where the Board receives partial payment of any assessment for outstanding contributions from the employer, the Board may determine the manner in which the outstanding contributions by the employer is to be credited into each account of the member of the Fund

   [Ins. Act A1300/2007]

3. If any employer fails to pay any contribution which he has deducted from the wages of an employee, the Board shall, on being satisfied that such deduction has been made, credit the employee with the amount of such contribution together with any dividend which would have been credited in respect thereof if such contribution had been paid by the employer within the prescribed period and shall charge the amount so credited to the general revenues of the Fund:
   Provided that nothing in this section shall prejudice the right of the Board to recover the amount of such contribution and dividend from the employer.
4. Any amount recovered under subsection (3) shall be disbursed in the following manner:
   1. firstly to be credited to the general revenues of the Fund such sum that has been paid out from the general revenues of the Fund under subsection (3); and
   2. the balance thereof shall be credited to the respective employees' accounts rateably.
5. (Deleted by Act A958/1996).
6. The provisions of this section shall apply to any amount standing to the credit of an employee in an approved fund upon the transfer of such amount to the Fund.

In addition to payment of dividend paid under the proviso to subsection 50(2), the Board may pay to the member of the Fund who has made a withdrawal under subsection 54(1), an additional dividend as determined by the Board.

[Ins. Act A914/1995]

1. Notwithstanding anything to the contrary contained in any other written law-

   [Ins. Act A1504/2016]

   1. no sum deducted from the wages of a member of the Fund under section 48;
   2. no amount payable by the employer as his contribution; and
   3. no amount standing to the credit of a member of the Fund,
   shall be assignable, transferable, liable to be attached, sequestered, levied upon, for, or in respect of, any debt or claim whatsoever, nor shall the Official Assignee be entitled to or have any claim on any such sum or amount.

   [Am. Act A914/1995]

2. Notwithstanding subsection (1), the amount standing to the credit of a member of the Fund under paragraph (1)(c) may be forfeited if the amount standing to the credit of such member is subject to an order of forfeiture by a court under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 [Act 613].

   [Am. Act A1504/2016]

[Ins. Act A1300/2007]

1. Notwithstanding section 51, the Board may transfer to the Registrar of Unclaimed Money all sums of money standing to the credit of a member of the Fund which have not been claimed when such member has attained the age of one hundred years or any age limit as prescribed by the Board, whichever is higher.

   [Sub. Act A1504/2016]

2. Any application or claim relating to the credit of such member of the Fund after such transfer under subsection (1) has been effected shall be forwarded to the Registrar of Unclaimed Money according to the Unclaimed Moneys Act 1965 [Act 370].

1. No contributions shall become payable to the Fund by the employees in respect of whom there exist an approved fund, or by the employer or employers of such employees in respect of such employees.
2. Where the Minister amends the First Schedule under section 74 by deleting any paragraph thereof, any employer or group of employers who before the date on which the order comes into force has established a provident fund or other scheme for the benefit of all or of a group of his or their employees of the description specified in that paragraph shall, within such period as the Board may in its discretion allow, furnish the Board with such particulars of such provident fund or other scheme as the Board may prescribe or in any particular case require, and if after examining such particulars the Board is satisfied that such provident fund or other scheme as amended if necessary in such manner as the Board may require provides for an employee benefits not less advantageous to him than the benefits which are provided for an employee by the Fund, the Board may, subject to such conditions as it may impose, declare such provident fund or other scheme to be an approved fund.
3. Where an employee for any reason whatsoever changes employment to an employment in respect of which an approved fund exists, contributions in respect of the employee shall cease to be payable to the Fund and the amount standing to the credit of such employee shall remain in the Fund.
4. Where an employee, who is in an employment in respect of which an approved fund has been established, is precluded by the rules of such approved fund from contributing thereto during a specified period of probation, any sum standing to such employee's credit in the Fund which represents contributions to the Fund both by the employer and the employee since the date on which such employment commenced, together with any dividend thereon, shall remain in the Fund.
5. Where-
   1. an employer who is one of a group of employers by whom an approved fund has been established ceases to participate in such approved fund; or
   2. an employee-
      1. leaves an employment in respect of which he was a contributor to an approved fund; or
      2. ceases to contribute to an approved fund, in circumstances other than those set out in paragraph 54(1)(a), (b) or (c),
   the amount standing to each employee's or to such employees' credit in such approved fund that represents contributions to such approved fund both by the employer and the employee since 1 July 1952 together with any dividend thereon, shall, notwithstanding anything to the contrary contained in any other written law, be transferred to the Fund, and the Board shall cause to be credited to each such employee or such employees such amount in such manner as the Board shall direct and such amount shall be transferred within one month of the employer ceasing to participate in such approved fund or of the employee leaving the employment or ceasing to contribute, as the case may be, or within such further period as the Board may in any particular case allow:
   
   Provided that where an employee-
   1. transfers from employment in Malaysia under an employer by whom an approved fund has been established to employment outside Malaysia under the same employer; or
   2. transfers from employment under an employer who is one of a group of employers by whom an approved fund has been established to employment under another employer who is one of the same group,
      
      and in either case, where such transfer is permitted by the rules of such approved fund to continue to contribute thereto on the same terms and conditions as if such transfer had not taken place, such employee, so long as he continues so to contribute, shall not for the purposes of subparagraph (b)(i) of this subsection be deemed to have left an employment in respect of which he was a contributor to an approved fund:
      
      Provided further that where in accordance with the rules of such approved fund the amount standing to the credit of any employee consists in whole or in part of a policy of life assurance, such policy shall not be transferred to the Fund, but shall be dealt with in accordance with such rules.
       
6. 1. Where an approved fund is wound up, the amount standing to each employee's or to such employees' credit in such approved fund that represents contributions to such approved fund both by the employer and the employee since 1 July 1952 together with any dividend thereon, shall notwithstanding anything to the contrary contained in any other written law, be transferred to the Fund, and the Board shall cause to be credited to each employee or such employees such amount in such manner as the Board shall direct.
   2. The Board may, if it considers desirable in the interest of employees so to do, accept in their entirety the assets and liabilities of such approved fund at such date as is agreed and where the assets of such approved fund shall not be sufficient to meet its liabilities, the amount to be credited to such employee or employees under paragraph (a) shall be reduced in such proportion as the Board may determine:

      
      Provided that where in accordance with the rules of such approved fund the amount standing to the credit of any employee consists in whole or in part of a policy of life assurance such policy shall not be transferred to the Fund, but shall be dealt with in accordance with such rules.

7. An employer who has established an approved fund shall-
   1. furnish the Board with such accounts as the Board may require in respect of such approved fund duly certified by a person who has been approved as a company auditor under section 8 of the Companies Act 1965;
   2. inform the Board of any proposed amendment to the rules of such approved fund and shall not effect any such amendment except with the written approval of the Board; and
   3. furnish the Board with such particulars of those employees contributing to such approved fund in such manner as may be prescribed by the Board.
8. The Board may, if not satisfied with the management of any approved fund, revoke any declaration made under this section, and upon such revocation, subsection (5) section shall apply as they would apply if such fund were wound up.
9. An employer in respect of any approved fund shall be subject to offences and penalties in respect of any deductions or contributions made under the rules approved fund as are provided by this Act in respect of deductions and contributions relating to the Fund.
10. Notwithstanding anything to the contrary in the rules of an approved fund, the amount standing to an employee's credit therein together with any dividend thereon may be withdrawn in any of the circumstances set out in paragraph 54(1)(a), (b) or (c).
11. Notwithstanding anything to the contrary in the rules of an approved fund, any employer may on application by an employee who has attained the age of fifty years authorize not more than
    one withdrawal from such approved fund a sum representing onethird of the amount standing to the credit of such employee and an employee in respect of whom an authority for withdrawal has been given under this subsection shall notwithstanding such withdrawal continue to be treated as a contributor to such approved fund.
12. When an employee withdraws under subsection (10) any amount standing to his credit in an approved fund, he shall not thereafter be treated as an employee, notwithstanding that, but for this subsection, he would be an employee, for the purpose of this Act.
13. Any employer who fails to comply with any requirement or direction of the Board under this section, or with any provision of subsection (7), shall be guilty of an offence.
14. Where in the circumstances mentioned in subsections (5) and (8), amount of contributions paid since 1 July 1952, is transferred to the Fund, the employer and employee concerned may, by mutual agreement, elect to transfer to the Fund all such amount standing to the credit of the employee in an approved fund as represents the contributions paid to such fund before the 1 July 1952. Notice of such election shall be given to the Board in such manner as may be prescribed by the Board, and if the Board approves such transfer, the employee shall be credited with the amount so transferred to the Fund.
15. The provisions of section 51 shall apply in respect of an approved fund in like manner as it applies in respect of the Fund.
16. For the purpose of this section the expression "an employer who has established an approved fund" includes an employer for the benefit of whose employees an approved fund has been
    established.
17. Nothing in the provisions of subsections (7) and (13) shall apply to an approved fund expressly established by or under any written law.
18. Any expenses incurred by the Board in enforcing the obligations of approved funds under this Act shall be reimbursed to the Board from the funds of such funds on of membership of such funds.

The approved fund of a statutory or local authority under the new scheme shall be wound up on as the Minister may, by notification in the Gazette, appoint in each particular case, and and liabilities of the approved fund shall be transferred to the Fund and dealt with Act:
 

Provided that where there is a pension scheme of a statutory or within the meaning of "approved fund" under section 2 of this Act then the winding up scheme shall be dealt with under section 30 of the Statutory and Local Fund Act 1977 [Act 185] notwithstanding section 52.

1. Notwithstanding section 51, when an order is issued by a court of the sums of money standing to the credit of a member of the Fund is matrimonial asset, the Board may, after being served with the sealed order, transfer the sum of money as ordered by the court from the account of a member of the Fund into the account of the receiver named in subject to any terms and conditions as prescribed by the Board.
2. The Board shall postpone such transfer under subsection (1) if an order, appeal or any process of court proceedings which prevents the execution of the subsection (1) is served on the Board.
3. Notwithstanding subsections (1) and (2), the transfer of credit from the account of a member of the Fund into the account of the receiver named in the order is subject to the amount standing to the credit of such member of the Fund at the date of the transfer is made.
4. For the purpose of subsection (3),"the date of the transfer" means the date on which the sums of money is debited from the account of a member of the Fund.

[Ins. Am A1300/2007]

1. Notwithstanding any relevant provisions of this Act, the amount which has been transferred into the account of the receiver named in the order under subsection 53A(1) shall not be withdrawn or transferred except in accordance with subsection (2).
2. The Board may authorize the withdrawal of all amounts so transferred subject to any terms and conditions as may be prescribed by the Board if the Board is satisfied that the receiver—
   1. has died;
   2. has attained the age of fifty-five years;
   3. is physically or mentally incapacitated from engaging in an employment; or
   4. is not a Malaysian citizen and is about to leave Malaysia.
3. Where such authority for withdrawal under paragraph 2(a) or 2(c) has been granted, no additional amount under section 58 may be paid.

The contributions of a member of the Fund affected by the transfer into the account of another member of the Fund under this Part shall be the employee’s contributions of the first mentioned member of the Fund.

[Ins. Act A1611/2019]
 

1. Notwithstanding section 51 and subject to the conditions and criteria as specified in the Eighth Schedule, a member of the Fund may elect to transfer his contributions at the rate specified in the Eighth Schedule into the account of another member of the Fund who is or are his lawful wife or wives.
2. A member of the Fund who elects to transfer his contributions shall make an application to the Board by submitting such particulars or documents, and in such manner, as determined by the Board. 
3. After receiving an application under subsection (2), the Board shall transfer the contributions of the member of the Fund who elects to transfer his contributions into the account of another member of the Fund elected by him on a monthly basis or in accordance with such other period as determined by the Board subject to the availability of contributions in the account of the member of the Fund who makes the election.

[Mas. Akta A1611/2019]

1. Apabila berlakunya mana-mana hal keadaan yang dinyatakan dalam Jadual Kelapan berhubung dengan suatu pemindahan caruman, ahli Kumpulan Wang yang telah memilih untuk memindahkan carumannya di bawah seksyen 53D boleh memohon kepada Lembaga untuk menghentikan pemindahan itu. 
2. Suatu permohonan bagi penghentian pemindahan caruman di bawah subseksyen (1) hendaklah dibuat kepada Lembaga dengan mengemukakan apa-apa butir-butir atau dokumen, dan mengikut apa-apa cara, sebagaimana yang ditentukan oleh Lembaga.
3. Selepas menerima suatu permohonan di bawah subseksyen (2), Lembaga hendaklah menghentikan pemindahan caruman itu. 
4. Apa-apa amaun yang telah dipindahkan ke dalam akaun ahli Kumpulan Wang yang menerima caruman yang dipindahkan sebelum tarikh penghentian pemindahan caruman itu hendaklah dikekalkan dalam akaun ahli Kumpulan Wang itu. 

[Mas. Akta A1611/2019]

Jika caruman di bawah seksyen 53D telah dipindahkan secara silap, Lembaga boleh memindahkan semula caruman itu, termasuk apa-apa dividen, ke dalam akaun ahli Kumpulan Wang yang telah memilih untuk memindahkan caruman itu, tertakluk pada amaun yang ada pada kredit ahli Kumpulan Wang yang telah menerima caruman yang dipindahkan secara silap itu.

[Pin. Akta A958/1996; Gan. Akta A1080/2000]

1. Lembaga boleh membenarkan pengeluaran kesemua jumlah wang yang ada pada kredit seseorang ahli Kumpulan Wang mengikut apa-apa terma dan syarat yang ditetapkan oleh Lembaga jika Lembaga berpuas hati bahawa -

   [Gan. Akta A914/1995]

    
   1. ahli Kumpulan Wang itu telah meninggal dunia;
       
   2. (Dipotong oleh Akta A1300/2007) ;
       
   3. ahli Kumpulan Wang itu tidak berupaya dari segi fizikal atau mental untuk bekerja; atau

      [Pin. Akta A1123/2001]

   4. (Dipotong oleh Akta A1123/2001).
       
   5. ahli Kumpulan Wang itu bukan seorang warganegara Malaysia dan dia akan meninggalkan Malaysia.

      [Pin. Akta A1300/2007]

      (1A) Tertakluk kepada apa-apa peraturan-peraturan dan kaedah-kaedah yang dibuat di bawah Akta ini, bagi maksud perenggan 54(1)(a), mana-mana ahli Kumpulan Wang boleh membuat penamaan bagi maksud pembayaran kredit selepas kematian ahli itu.

      [Mas. Akta A1300/2007]

2. (Dipotong oleh Akta A1300/2007).
    
3. (Dipotong oleh Akta A1300/2007).
    
4. Seseorang ahli Kumpulan Wang yang, sebelum 1 Ogos 1995, telah membuat pengeluaran kesemua jumlah wang yang ada pada kreditnya dalam Kumpulan Wang atas alasan bahawa dia hendak meninggalkan Malaysia tanpa niat untuk kembali ke Malaysia atau dia hendak bermastautin di Republik Singapura hendaklah dianggap sebagai pekerja di bawah Akta ini jika dia memberikan suatu notis kepada Lembaga dan majikannya mengikut cara yang ditetapkan oleh Lembaga mengenai niatnya untuk mencarum kepada Kumpulan Wang.
    

   [Gan. Akta A914/1995; Gan. Akta A1300/2007]

   (4A) (Dipotong oleh Akta A1300/2007).
    
5. (Dipotong oleh Akta A1300/2007).
    
6. Walau apa pun subseksyen (1) dan tertakluk kepada subseksyen 59(2), Lembaga boleh membenarkan permohonan seseorang ahli Kumpulan Wang untuk mengeluarkan sebahagian daripada amaun yang ada pada kreditnya mengikut apa-apa terma dan syarat yang ditetapkan oleh Lembaga jika Lembaga berpuas hati bahawa—

   [Pin. Akta A958/1996; Pin. Akta A1300/2007]

   1. ahli Kumpulan Wang itu telah mencapai umur lima puluh tahun;
   2. ahli Kumpulan Wang itu telah membeli atau membina rumah;
      (ba) ahli Kumpulan Wang itu telah menjual rumah yang dibeli atau dibinanya dengan menggunakan pengeluaran di bawah perenggan (b) dan kemudiannya dia telah membeli atau membina rumah yang lain;

      [Mas. Akta A1123/2001]

   3. ahli Kumpulan Wang itu telah membeli atau membina rumah dan telah mengambil pinjaman di bawah perenggan 26(1)(f) untuk pembelian atau pembinaan rumah itu;
   4.  ahli Kumpulan Wang itu telah membeli atau membina rumah dan telah mengambil pinjaman dan rumah itu telah digadaikan sebagai cagaran untuk pinjaman itu;
      (da) ahli Kumpulan Wang itu telah menjual rumah yang telah digadaikan sebagai cagaran bagi pinjaman di bawah perenggan(d)dan dia kemudiannya -

      [Mas. Akta A1123/2001]

      1. telah membeli atau membina rumah yang lain dan telah mengambil pinjaman lain dan rumah baharu itu telah digadaikan sebagai cagaran bagi pinjaman lain; atau

         [Mas. Akta A1123/2001; Gan. Akta A372/2016]

      2. telah membeli rumah daripada Perbadanan Perumahan Rakyat 1Malaysia dan telah mengambil pinjaman lain dan rumah baharu itu telah digadaikan sebagai cagaran bagi pinjaman lain itu;

         [Mas. Akta A1123/2001; Gan. P.U.(A) 372/2016]

      (db) ahli Kumpulan Wang itu telah membeli rumah daripada Perbadanan Perumahan Rakyat 1Malaysia dan telah mengambil pinjaman dan rumah itu telah digadaikan sebagai cagaran untuk pinjaman itu;

      [Mas. P.U. (A) 372/2016]

   5. ahli Kumpulan Wang itu tidak mengambil pinjaman untuk membeli atau membina rumah tetapi isteri atau suami ahli Kumpulan Wang itu telah membeli atau membina rumah dan telah mengambil pinjaman dan rumah itu telah digadaikan sebagai cagaran untuk pinjaman itu;

      [Pin. Akta A1300/2007]

   6. ahli Kumpulan Wang itu atau mana-mana orang lain yang diluluskan oleh Lembaga memerlukan pembiayaan perubatan;
   7. ahli Kumpulan Wang itu memerlukan pembiayaan untuk pengajian tinggi bagi dirinya sendiri, anaknya, suami atau isterinya atau ibu atau bapanya;

      [Gan. Akta A1123/2001; Pin. Akta A1190/2003; Pin. P.U.(A) 177/2021]

      
      (ga) ahli Kumpulan Wang itu beragama Islam telah menerima surat tawaran daripada Lembaga Tabung Haji untuk menunaikan haji dan memerlukan pembiayaan bagi menampung kos menunaikan haji; haj;

      [Mas. Akta A498/2012]

   8. (Dipotong oleh Akta A1190/2003);

      [Pin. Akta A1123/2001; Akta A1190/2003]​​​

   9. ahli Kumpulan Wang itu mempunyai kredit yang melebihi satu juta ringgit dalam akaunnya; dan;

      [Mas. Akta A1300/2007; Pin. Akta A135/2020]

   10. ahli Kumpulan Wang itu mengambil suatu polisi insurans atau sijil takaful, sebagaimana yang ditentukan oleh Lembaga daripada suatu syarikat insurans atau takaful yang diluluskan oleh Menteri tertakluk kepada apa-apa terma dan syarat yang difikirkannya sesuai, bagi dirinya sendiri, atau dirinya sendiri dan mana-mana orang lain yang diluluskan oleh Lembaga;

       [Mas. Akta A1300/2007; Pin. P.U.(A).135/2020; Pin. Akta A253/2021]

   11. (Dipotong oleh P.U.(A) 151/2022)
   12. (Dipotong oleh P.U.(A) 151/2022)
   13. (Dipotong oleh P.U.(A) 151/2022)
   14. (Dipotong oleh P.U.(A) 151/2022)
7. Walau apa pun subseksyen 54(6), Menteri boleh, jika difikirkannya suai manfaat dan selepas berunding dengan Lembaga, melalui perintah yang disiarkan dalam Warta, menambah, mengubah atau mengubahsuaikan maksud yang baginya seseorang ahli Kumpulan Wang boleh membuat pengeluaran di bawah subseksyen (6).;

   [Mas. Akta A1123/2001]

[Mas. Akta A958/1996]

Bagi maksud pengeluaran di bawah Akta ini, tarikh pengeluaran hendaklah -

1. jika pembayaran dibuat dengan waran, pada tarikh waran bagi pengeluaran itu dikeluarkan; dan
2. jika pembayaran dibuat dengan cara selain daripada waran, pada tarikh amaun bagi pengeluaran itu didebitkan daripada akaun ahli Kumpulan Wang itu.