Section 49
of National Retirement Scheme Act
Section 49
(1)
Notwithstanding anything to the contrary in this Act or any other written laws, where any contribution remaining unpaid by a body corporate, partnership, association or body of persons —
(a)
the directors or former directors of such body corporate;
(b)
the partners or former partners of such partnership; or
(c)
the members or office bearers of such association or body of persons, as the case may be, during such period in which contributions were liable to be paid shall, together with the body corporate, partnership, association or body of persons liable to pay contributions, be jointly and severally liable for the contributions due and payable to the Fund.
(2)
In this section, “contribution” includes any dividend, service charge and penalties due to any contribution charged by the Board under this
Act or any regulations made thereunder.
Exemption 50.
His Majesty the Sultan and Yang Di-Pertuan may by order exempt any person or class of persons from all or any of the provisions of this Act.
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Board may engage in activities not directly related to Scheme and may call for information 51.
The Board may, if the Minister is satisfied that it is in the public interest to do so, engage in activities not directly related to the administration of the Scheme including, in particular, the compilation of information of a statistical nature or otherwise relating to employers and employees and for this purpose the Board may require employers and employees to furnish such particulars as may be necessary.
Amendment of Schedules 52.
The Minister may, with the consent of His Majesty the Sultan and Yang
Di-Pertuan, by order published in the Gazette, amend the Schedules to this
Act.
Regulations 53.
(1)
The Minister may, after consultation with the Board and with the consent of His Majesty the Sultan and Yang Di-Pertuan, make regulations —
(a)
to provide for the manner of payment and collection of contributions and any matter incidental thereto;
(b)
to provide for the disposal of amounts which are unclaimed, unpaid or otherwise remain in the Scheme;
(c)
to provide for the classification of any employment, not being employment under a contract of service or apprenticeship, as an employment in respect of which contributions are payable under the provisions of this Act;
(d)
to provide that where an employee is employed in a specified employment, a person specified as the principal employer is deemed to be his employer for the purposes of this Act notwithstanding that the principal employer is not the immediate employer of the employee;
(e)
to require such person as His Majesty the Sultan and Yang
Di-Pertuan may specify who derives income from any trade, business, profession or vocation, or from any other source or sources as
His Majesty the Sultan and Yang Di-Pertuan may prescribe, to contribute to the Scheme in respect of such income in such manner and
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B.L.R.O. 2/2024 37
at such rate as His Majesty the Sultan and Yang Di-Pertuan may prescribe;
(f)
to provide for members of the Scheme to apply, assign or withdraw all or part of the contributions and dividend standing to their credit in the Scheme for the purchase of immovable property or to repay any loan taken to finance or refinance the purchase of immovable property, including the payment of costs, fees or other incidental expenses incurred for the purchase of an immovable property or for obtaining any loan to finance or refinance such purchase or in connection with withdrawals of any money from the
Scheme;
(g)
to provide for the nomination by a member of the Scheme of the persons to whom any amount standing to his credit at the time of his death is to be paid at his death, for the manner in which such nomination may be revoked and for the circumstances in which it is to be treated as having ceased to be operative and for payment of such amount to the administrator nominee so nominated;
(h)
to prescribe rates of contributions for the purposes of this
Act;
(i)
to specify and periodically revise the class of self-employed persons for the purposes of this Act;
(j)
to prescribe for fees for the purposes of this Act;
(k)
to periodically adjust the amounts of the monthly payments;
(l)
generally for giving effect to the objects and purposes of this
Act and for the due administration thereof.
(2)
The Board may, in addition to the other duties imposed and powers conferred on it under this Act, make rules —
(a)
to provide for —
(i)
the return of contributions under this Act, or any part of such contributions, paid in error;
(ii)
the payment of contributions under this Act, or any part of such contributions, omitted to be paid in error;
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(b)
to provide for the keeping of books, accounts or records by employers;
(c)
to provide for the registration with the Board of employers and employees;
(d)
to provide for the appointment of medical boards for the purpose of determining whether a member of the Scheme is physically or mentally incapacitated;
(e)
to prescribe the procedure for the withdrawal of amounts from the Scheme;
(f)
to prescribe the evidence to be produced and the person, officer or authority to whom the evidence is to be produced for the purposes of section 20;
(g)
to prescribe the procedure to be followed when contributions are paid into the Scheme;
(h)
to provide, in case where an employee is employed concurrently by two or more employers, the extent of the obligation of those employers as to payment of contributions under this Act;
(i)
to prescribe the procedure to be followed when any voluntary contribution is paid to the Scheme;
(j)
to prescribe the returns to be made and the registers to be used in the carrying out of the provisions of this Act;
(k)
to prescribe anything which under this Act may be prescribed by the Board;
(l)
generally for giving effect to the objects and purposes of this
Act and for the due administration thereof.
Contributions not to be assigned etc.