LAWS OF MALAYSIA


ACT 100
TRUST COMPANIES ACT 1949 (REVISED - 1973)
Incorporating latest amendment - P.U.(A) 357/1980
First enacted : 1949 (Ordinance No. 33 of 1949)
Date of coming into operation:West Malaysia: 28 September 1949 [Ord. 33/1949]; East Malaysia: 1 January 1973 [P.U. (A) 273/72];
Revised up to :1973 (Act No. 100 w.e.f. 15th March 1973)
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ARRANGEMENT OF SECTIONS
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Long Title

PRELIMINARY

Section 1. Short title.
Section 2. Interpretation.

REGISTRATION OF TRUST COMPANIES

Section 3. Application by company to be registered as a trust company.
Section 4. Issue of certificate.
Section 5. Registration of company incorporated in Singapore as a trust company.
Section 6. Register of trust companies to be kept.

DEPOSIT BY TRUST COMPANIES

Section 7. Deposit to be held as security.

OBJECTS OF TRUST COMPANIES

Section 8. Objects.

PROBATE AND ADMINISTRATION

Section 9. Company may act as executor.
Section 10. Company may be authorized to apply for probate or administration.
Section 11. Procedure as to petitions, etc.

TRUSTEESHIP

Section 12. Appointment of company to be trustee.
Section 13. Joint tenancy.

AGENCY

Section 14. Company may act as agent.

EXEMPTION FROM GIVING SECURITY

Section 15. Trust company not to furnish security.

INVESTMENT OF TRUST FUNDS

Section 16. Trust funds to be kept separate.
Section 17. Investment of trust funds.

INVESTMENT OF COMPANY'S FUNDS

Section 18. Investment of company's funds.
Section 19. Loans to company's officers prohibited.

BORROWING POWER

Section 20. Borrowing.

ANNUAL STATEMENT

Section 21. Annual statement.

INSPECTION

Section 22. Investigation by inspector.

WINDING UP

Section 23. Special provision as to winding up.

LIABILITY OF OFFICERS

Section 24. Personal liability of officers.
Section 25. Loan to director, etc.

LIABILITY OF OFFICERS

Section 26. Liability on winding up.

PENALTIES

Section 27. Wilful neglect to make entry.
Section 28. False statements in accounts.
Section 29. Refusal to produce books.
Section 30. Neglect to forward annual statement.

GENERAL

Section 31. Guardianship of person prohibited.
Section 32. Restriction on holding of shares.
Section 33. Voluntary winding up or disposal of shares may be restrained.
Section 34. Liability and powers of company.
Section 35. Registration of trust company as shareholder, etc., not notice of a trust.
Section 36. Unclaimed money to be paid into Court.
Section 37. Fees.
Section 38. Repeal.

SCHEDULE

LIST OF AMENDMENTS