PERBADANAN TABUNG PENDIDIKAN TINGGI NASIONAL ACT 1997

LAWS OF MALAYSIA ONLINE VERSION OF UPDATED TEXT REPRINT Act 566 PERBADANAN TABUNG PENDIDIKAN TINGGI NASIONAL ACT 1997 As at 1 April 2013 2 PERBADANAN TABUNG PENDIDIKAN TINGGI NASIONAL ACT 1997 … … … … … 18 June 1997 Date of publication in the Gazette … … ... 30 June 1997 Latest amendment made by Act A1296 which came into operation on … 20 July 2007 Date of Royal Assent … … … PREVIOUS REPRINTS First Reprint ... ... ... ... ... 2002 Second Reprint ... ... ... ... ... 2005 Third Reprint ... ... ... ... ... 2006 3 LAWS OF MALAYSIA Act 566 PERBADANAN TABUNG PENDIDIKAN TINGGI NASIONAL ACT 1997 ARRANGEMENT OF SECTIONS PART I PRELIMINARY Section 1. Short title and commencement 2. Interpretation PART II THE TABUNG PENDIDIKAN TINGGI NASIONAL 3. Establishment of the Fund 4. Expenditure to be charged on the Fund PART III THE PERBADANAN TABUNG PENDIDIKAN TINGGI NASIONAL 5. Establishment of the Perbadanan 6. Common seal 7. The Board of Management 8. Alternate members 4 Laws of Malaysia ACT 566 PART IV FUNCTIONS AND POWERS OF THE PERBADANAN Section 9 . Functions of the Perbadanan 1 0 . Powers of the Perbadanan 1 1 . Power to receive deposits 11A. Guarantee of the Government 1 2 . Regulations as to deposits 1 3 . Power to establish insurance and unit trust schemes 1 4 . Power to borrow 1 5 . Power to invest 15A. Additional powers of the Perbadanan 1 6 . Guarantee and indemnity 1 7 . Committee 1 8 . Delegation of functions 1 9 . Power of Minister to give directions PART V EDUCATIONAL LOANS 2 0 . Provision of educational loans in annual estimates 2 1 . Disbursement of educational loans 2 2 . Duty to maintain record of educational loans 22A. The Chief Executive may issue certificate to the Inspector General of Police or the Director General of Immigration to prevent recipient student leaving Malaysia in certain circumstances 2 3 . Perbadanan to be responsible for the recovery and collection of repayments of educational loans 23A. Limitation for action founded on a contract for educational loans 2 4 . Appointment of collection agents 2 5 . Inland Revenue Board as collection agent 2 6 . Commencement of repayment of educational loan 2 7 . Recovery and collection of repayments of educational loans Perbadanan Tabung Pendidikan Tinggi Nasional 2 8 . Lawful methods for collection of repayments of educational loans 2 9 . Employer to assist the Perbadanan and Inland Revenue Board 3 0 . Certificate of Perbadanan to be conclusive 3 1 . Payment of commission to collection agents PART VI CHAIRMAN, OFFICERS, SERVANTS 3 2 . Chairman 3 3 . Chief Executive 3 4 . Appointment of officers and servants of the Perbadanan 3 5 . Appointment of agents, consultants, etc. 36. (Deleted) 37. (Deleted) 38. (Deleted) 39. (Deleted) 40. (Deleted) 41. (Deleted) 42. (Deleted) 43. (Deleted) 44. (Deleted) 4 5 . Perbadanan may adopt regulations, etc. 4 6 . Protection from personal liability 4 7 . Public Authorities Protection Act 1948 4 8 . Public servants PART VII GENERAL 49. Power to make regulations 49A. Penalties for subsidiary legislation 50. Reserve Fund 51. Expenditure and preparation of estimates 5 6 Laws of Malaysia ACT 566 52. Accounts and reports 53. Statutory Bodies (Accounts and Annual Reports) Act 1980 to apply 54. Obligation of secrecy 55. Penalty in the case of a continuing offence 56. Offences by bodies corporate 57. Things done in anticipation of the enactment of the Act 58. Conduct of civil proceedings 59. Power to compound SCHEDULE 7 LAWS OF MALAYSIA Act 566 PERBADANAN TABUNG PENDIDIKAN TINGGI NASIONAL ACT 1997 An Act to establish the Tabung Pendidikan Tinggi Nasional, to incorporate the Perbadanan Tabung Pendidikan Tinggi Nasional, and to provide for related matters. [1 July 1997, P.U.(B)255/1997] 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: PART I PRELIMINARY Short title and commencement 1. (1) This Act may be cited as the Perbadanan Tabung Pendidikan Tinggi Nasional Act 1997. (2) This Act shall come into force on such date as the Minister may appoint by notification in the Gazette. Interpretation 2. In this Act, unless the context otherwise requires— “Board” means the Board of Management established under section 7; “Chairman” means the Chairman of the Board appointed under paragraph 7(2)(a); 8 Laws of Malaysia ACT 566 “Chief Executive” means the principal executive officer of the Perbadanan appointed under section 33; “committee” means a committee established under section 17; “deposits” means the deposits received by the Perbadanan under section 11; “educational loan” means a loan approved and paid out by the Perbadanan to a student under this Act; “higher educational institution” means— (a) an institution of learning which provides education leading to the award of a diploma, degree or the equivalent of a diploma or degree established under— (i) the Universities and University Colleges Act 1971 [Act 30]; (ii) the Universiti Teknologi MARA Act 1976 [Act 173]; and (iii) the Private Higher Educational Institutions Act 1996 [Act 555]; (b) a polytechnic established and maintained by the Minister under the Education Act 1996 [Act 550]; and (c) any other higher educational institution established or deemed to have been established under the Education Act 1996 and which is determined by the Minister to be a higher educational institution for the purposes of this Act; “Fund” means the Tabung Pendidikan Tinggi established under section 3; Nasional “Inland Revenue Board” means the Inland Revenue Board of Malaysia established under section 3 of the Inland Revenue Board of Malaysia Act 1995 [Act 533]; Perbadanan Tabung Pendidikan Tinggi Nasional 9 “Minister” means the Minister responsible for Higher Education; “Perbadanan” means the Perbadanan Tabung Pendidikan Tinggi Nasional established under section 5; “recipient student” means a student to whom has been approved, and who is in receipt of, an educational loan under this Act; “student” means a person receiving education, instruction or training of any description on a full-time or part-time basis from or in a higher educational institution. PART II THE TABUNG PENDIDIKAN TINGGI NASIONAL Establishment of the Fund 3. (1) For the purposes of this Act there is established a fund called the “Tabung Pendidikan Tinggi Nasional” which shall be administered and controlled by the Perbadanan Tabung Pendidikan Tinggi Nasional. (2) The Fund shall consist of— (a) such moneys as may be allocated by the Government from time to time for the purposes of this Act; (b) all grants, donations, gifts, contributions and bequests made to or in favour of the Perbadanan; (c) deposits received by the Perbadanan under section 11; (d) moneys earned by the operation of any project, agency, scheme or enterprise financed from the Fund; (e) fees or other charges imposed by the Perbadanan under this Act; 10 Laws of Malaysia ACT 566 (f) such moneys as may be paid from time to time to the Perbadanan from any financing or financial assistance given by the Perbadanan, and all moneys from time to time falling due to the Perbadanan in respect of the repayment of any financing or financial assistance, including educational loans, given out of the Fund; (g) moneys borrowed by the Perbadanan under section 14; (h) any property, investment, mortgage, lease, tenancy, charge or debenture acquired by or vested in the Perbadanan; (i) moneys earned or arising from any property, investment, mortgage, lease, tenancy, charge or debenture acquired by or vested in the Perbadanan; (j) all other moneys or property which may in any manner become payable to or vested in the Perbadanan in respect of any matter incidental to its functions, powers or duties; and (k) all other moneys lawfully received by the Perbadanan. Expenditure to be charged on the Fund 4. The Fund may be expended for the purpose of— (a) the granting of educational loans to students for the payment of fees, educational equipment and aids, and cost of living expenses during the students’ period of study at a higher educational institution; (b) the financing of, or the granting of financial assistance to, students in higher educational institutions other than by way of educational loan; (c) establishing insurance and unit trust schemes; Perbadanan Tabung Pendidikan Tinggi Nasional 11 (d) repayments on borrowings and such other outgoings and expenditure as may be permitted by this Act or any regulation made under this Act; (e) administrative expenses including the remuneration, retirement benefits, gratuities and other allowances of the officers and servants of the Perbadanan; and (f) other expenses incidental to the management of the Fund and the functions of the Perbadanan including any moneys required to satisfy any judgment, decision, or award by any court or tribunal against the Perbadanan, or any member of the Board or any committee, or any officer, servant or agent of the Perbadanan in respect of any act, neglect or default done or committed by him in carrying out the functions of the Perbadanan. PART III THE PERBADANAN TABUNG PENDIDIKAN TINGGI NASIONAL Establishment of the Perbadanan 5. (1) There is established a body corporate by the name of “Perbadanan Tabung Pendidikan Tinggi Nasional” which shall be responsible for the management of the Fund. (2) The Perbadanan shall have perpetual succession and a common seal, and may sue and be sued in its name. (3) Subject to and for the purposes of this Act, the Perbadanan, upon such terms as it deems fit, may— (a) enter into contracts; (b) acquire, purchase, take, hold and enjoy movable and immovable property of every description; and 12 Laws of Malaysia ACT 566 (c) convey, assign, surrender, yield up, charge, mortgage, demise, reassign, transfer, or otherwise dispose of, or deal with— (i) any movable or immovable property; and (ii) any interest in any movable or immovable property, vested in the Perbadanan. Common seal 6. (1) The common seal of the Perbadanan shall bear such device as the Perbadanan may approve and the seal may be broken, changed, altered and made anew by the Perbadanan from time to time as it may think fit. (2) The common seal shall be kept in the custody of the Chief Executive and shall be authenticated by him or by an officer authorized by the Perbadanan in writing. (3) All deeds, documents, and other instruments purporting to be sealed with the common seal and authenticated in accordance with subsection (2) shall be deemed to have been validly executed, until the contrary is proved. (4) Notwithstanding subsection (3), any document or instrument which if executed by a person not being a body corporate would not be required to be under seal may in like manner be executed by the Perbadanan, and any such document or instrument may be executed on behalf of the Perbadanan by an officer or servant of the Perbadanan generally or specially authorized by the Perbadanan in that behalf. (5) The common seal of the Perbadanan shall be officially and judicially noticed. Perbadanan Tabung Pendidikan Tinggi Nasional 13 The Board of Management 7. (1) There is established the Board of Management of the Perbadanan which shall exercise the powers and perform the functions of the Perbadanan. (2) The Board shall consist of the following members: (a) the Chairman; (b) the Attorney General or his representative; (c) the Secretary General of the Ministry of Finance or his representative; (d) the Secretary General of the Ministry of Higher Education or his representative; (da) the Secretary General of the Ministry of Education or his representative; (e) the chief executive officer of the Inland Revenue Board or his representative; (f) the Chief Executive; and (g) not more than five other members. (3)