Kootu Funds (Prohibition) Act 1971 [Act 28]   cite [+]
Changes to legislation: Kootu Funds (Prohibition) Act 1971 is incorporated with all amendments up to 1 December 2011. There are changes that may be brought into force at a future date. Legislation carried on this site may not be fully up to date.


Act 28

Kootu Funds (Prohibition) Act 1971

An Act to prohibit the registration or licensing of businesses which promote or are designed to promote kootu funds and the registration of companies which have as their object or as one of their objects the promotion of schemes or arrangements variously known as kootus, cheetus, chit funds, hweis, tontines or otherwise as well as to make it unlawful for any person to carry on the business of promoting such schemes or arrangements and to provide for matters incidental thereto.

[Throughout Malaysia-30 April 1971]

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

Important Notice: Legislation from this website is not a copy of the Gazette printed by the Government Printer, Percetakan Nasional Malaysia Berhad, for the purposes of section 61 of the Interpretation Acts 1948 and 1967 [Act 388] and does not constitute prima facie evidence of the contents of the Gazette by virtue of the section.